Shredding Business Bond

[Bond Guy]

I already submitted this in the license section but I wanted to make sure I have a stronger understanding of the Fidelity bond that my client should have in place as well. Any information would be helpful.

Please explain who, what, when and where of bonds for the shredding business. I have 15 years background in insurance business but have little knowledge of what these bonds protect. Please help. My client is required tio have a 10,000 bond for his license and some sort of Fidelity bond since he is working with confidential documents.

[Surety Queen]

I already submitted this in the license section but I wanted to make sure I have a stronger understanding of the Fidelity bond that my client should have in place as well. Any information would be helpful.

Please explain who, what, when and where of bonds for the shredding business. I have 15 years background in insurance business but have little knowledge of what these bonds protect. Please help. My client is required tio have a 10,000 bond for his license and some sort of Fidelity bond since he is working with confidential documents.

The $10,000 bond is probably required by the State to be licensed. This bond assures the State and your client's customers that they will operate the business according to the laws and regulations of the state they are working in.

Here is a link to the License & Permit bond application. Premium here will depend on the personal credit of the owners of the company as well as the specific bond language.

License & Permit Bonds - Surety Bond Types

The Fidelity bond protects your client's customers from theft or dishonest acts of your client.

Here is a link to the Fidelity bond application. It's very easy to get and has a pretty low premium.
JW Surety Bonds - Fidelity Bond Applications