Wisconsin Authorization to increase bonded indebtedness
Description
How to fill out Authorization To Increase Bonded Indebtedness?
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FAQ
The employer or applicant must contact a local bonding coordinator in a Wisconsin Job Center. Call (888) 258-9966 or visit JobCenterofWisconsin.com/ directory to find the location nearest you. Applicant must have a job offer, and the employer must schedule a date to start work.
Bonded vs. Insured. Now that you know what each term means, you may be wondering what the difference is between bonded and insured? Put simply, insurance helps protect your business while bonds protect a third party, often the public, from financial loss or damage due to non-compliance, wrongdoing, or misconduct.
It protects the company if the worker does something dishonest, like theft. The fidelity bond is free for six months. After six months, bonding becomes the companies' responsibility. The coverage is usually for $5,000, but can be more, and there is no deductible to pay.