Illinois Bond-Certiorari-Workmens Compensation is a type of bond that is required to be posted in the state of Illinois in order to protect employers from financial loss if an employee is injured or killed on the job. This bond guarantees that the employer will make payments to the injured employee or to any dependents of a deceased worker. The bond amount is typically determined by the amount of wages the employee earns. This bond is also known as a Workmen’s Compensation Bond, a Certiorari Bond, and an Illinois Surety Bond. There are three main types of Illinois Bond-Certiorari-Workmens Compensation: Commercial, Contractor, and Industrial. The Commercial Bond is designed for businesses that employ three or more people and provides protection from liability for workers’ compensation claims. The Contractor Bond is for businesses that provide services to other businesses or individuals and guarantees payment for any damages caused by the contractor’s negligence. The Industrial Bond provides protection for employers who employ five or more people in the manufacturing, construction, and mining industries.
Illinois Bond-Certiorari-Workmens Compensation
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