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  1. Bond Magician
    Bond Magician is offline Senior Member
    Join Date
    Oct 2007
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    401

    Licensed and Bonded

    The other day, I saw a van that said "licensed and bonded" on the side. Does "bonded" mean that they have a surety bond?
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  2. Surety Queen
    Surety Queen is offline Surety Professional
    Join Date
    Oct 2007
    Posts
    558

    Fidelity Bond

    Quote Originally Posted by Bond Magician
    The other day, I saw a van that said "licensed and bonded" on the side. Does "bonded" mean that they have a surety bond?
    To be honest with you? Probably not. People feel that if their potential customers think they are bonded that they must be a good company to do business with. You can't be bonded just to say you are bonded. The bond must be required by someone (the state, a local municipality, etc.) with the exception of an employee dishonesty bond. That could well be what they are referring to. That type of bond (or fidelity policy) covers for employee theft.
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