Bondable Means On a Job Application
The term ‘bondable means’ in a job application that you are insured or trustworthy to the company or the employer recruiting you for the job. It saves or protects the employer from any fraudulent or criminal background activities of the employee that the employer is hiring. This is essential for the employer to know as they will be acquainted with the employee who is being hired and the risks that they have to be prepared for if the situation arises. This process is usually done for a thorough background check on the person to assign their duties properly.
It is often seen in all the contracts of a job that the term ‘bondable’ is used. This is to inform and take acknowledgment that the employee is trustworthy of confidential materials/matters. If the question ‘are you bondable’ is seen or asked by the employer, it merely means that they are asking if you are trustworthy. It is also used to check for the employee’s criminal records, if any. If the employee has had a criminal record, then this term is put into question, and the employee may need to get a pardon so that their record is clear for the job they are applying for.
For example, if a person with a criminal record of theft for a bank job, the individual might not be considered bondable as they would be entrusted with a large sum of money. If the individual is entrusted with the job, this bond covers the bank in case of theft or fraud by the hired employee who signed this bondable contract.
This criterion is essential for not any jobs but also permits and access to other important documents. This bond can be made for all the employees or on selective candidates, depending on their qualifications. This also includes a drug test, especially in jobs dealing with pharmaceuticals. The company needs to be insured for any drug smuggling cases not liable for the employee’s actions. The employer will be protected for the employee’s actions and not be held in charge of any consequences.
Another example is hiring cleaners or movers who are going to be in your space with no supervision. The employer feels safe when they sign the contract to be aware that he is protected even if something is stolen. E.g., Vick is hired by Helen to clean out his apartment to be ready for renovation. Vick signs that he is bondable. Vick is left alone in the apartment to clean up, and he ends up stealing some of Helen’s valuable, which Helen finds out after returning. Helen here is protected for her lost valuables as Vick has signed that he is bondable, thus only Vick will be held responsible, and Helen is insured for this situation.
Bondable also means ‘binding terms,’ it is an agreement of sorts, and when the employee decided to break this agreement, then the employer is protected from these violations of the agreement. There are four different ways to bond the employees:
- To make a list of employees and cover them all with the bond through the insurance company who will run background checks on the employees. This way is called a Scheduled Fidelity Bond.
- Another type of bond is called the Blanket Position Bond, where only individuals of a certain rank or position are covered under this bond. This is often used in companies with a large turnover that do not include all their employees in this bond but rather the ‘important’ positions.
- The last type of bond is called the Primary Commercial Blanket Bond, where the company covers all the employees under the bond. In case a group of employees commits a crime, then the company is insured against all the employees.
- A Surety Bond is used in workplaces which involves the handling of large sums of money or cash. This process secures and protects the company from fraudulent employees as the insurance companies reject the individuals with a criminal record to save the company and for its best interest. This process also comes with its cons, which is not giving a chance to ex-convicts. Even though there is a huge risk factor in hiring individuals with a criminal record, they also deserve a second chance to feel accepted and trusted in society and help themselves make a new start in life.
Bonds are a necessity, especially in today’s world, as the workplace is never safe. There is a fear of theft of either material, intellectual property, or confidential information for which the company with no direct fault of their own would suffer the damage. Still, with these bonds, the company or employer is protected from such damages. These bonds basically protect the employers from the future or unpredictable damages that the employee may cause to them. In such cases, the employer is insured of their losses.
Bonds not only give a sense of safety to the company or employer but also the customers. The customers are also given a safe idea that their interests are protected and trusted with the respective company. While a criminal record of an individual might be seen as a negative to the insurance company, even a misdemeanor, which is not a criminal record, might negatively affect the insurance company. Although misdemeanors are usually overlooked, it depends on the severity of the job. An individual whose insurance was rejected because of a misdemeanor can get it expunged by the court to have a clear record.
An individual with a clear record and an impressive experience in past jobs with no fraudulent activities in their previous jobs is always seen as a plus. Thus this fidelity comes with its own pros and cons. On the one hand, it is of utmost importance to ensure a company of its losses. It is also necessary for those without a clear record to get jobs and restart their lives. No employer can predict if their employee will turn out as a bad impact to them or a good one, but it is always better to be ready for the worst, as they say- “prevention is better than cure” fits perfectly for this situation.
Bondable jobs are usually of more severity as they contain tasks with either handling sums of money, confidential information, or valuables. Thus it is always important to know what kind of employee is being hired and to know if they are trustworthy and a reliable source to the company. The bonds bring a sense of trust towards their employees and give a better quality of work. The employees are trained for the job qualities and the ethical and moral grounds in that workspace. This bond may also interfere with the individual’s personal interests and compatibility, which may lead to a loss of job opportunities. These bonds are mostly beneficial for the employer more than the employee and having this insurance is necessary for the employer.