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Thread: Cleaning Banks

  1. Join Date
    Oct 2007
    Posts
    171

    Cleaning Banks

    I run a cleaning company and would like to do business with some of our local banks. Because we will be going in after hours, they would like to see that we are bonded.

    Is it possible to obtain a fidelity bond or would this situation be considered too risky?

  2. Join Date
    Oct 2007
    Posts
    401

    Cleaning Banks

    Quote Originally Posted by Mother Bond
    I run a cleaning company and would like to do business with some of our local banks. Because we will be going in after hours, they would like to see that we are bonded.

    Is it possible to obtain a fidelity bond or would this situation be considered too risky?

    It may be possible to obtain a Janitorial Service Bond even if you will be going into the bank after hours. Your best bet would be to find the application on our website under Fidelity bonds. Once the application is sent to our office, the representative will submit it to the surety company for an approval.

    Please be sure to be as detailed as possible on the application as far as what type of work you will be doing.

  3. Join Date
    Oct 2007
    Posts
    171

    Cleaning Banks

    I'm looking over the application right now... how do I determine how much coverage to get?

  4. Join Date
    Oct 2007
    Posts
    401

    Cleaning Banks

    Quote Originally Posted by Mother Bond
    I'm looking over the application right now... how do I determine how much coverage to get?
    That is really up to you. You need to chose a bond amount that you feel most comfortable with. Please note that these types of bonds are not very expensive, so the differences in price will not be that much.

  5. Join Date
    Oct 2007
    Posts
    171

    Cleaning Banks

    Quote Originally Posted by Bond Magician
    That is really up to you. You need to chose a bond amount that you feel most comfortable with. Please note that these types of bonds are not very expensive, so the differences in price will not be that much.
    Let's say I get $50K for now, but later decide I want $100K... can I increase the coverage mid-term?

  6. Join Date
    Oct 2007
    Posts
    558

    Fidelity Bonds

    Quote Originally Posted by Mother Bond
    Let's say I get $50K for now, but later decide I want $100K... can I increase the coverage mid-term?
    Yes - you can change the bond amount any time. Premium would be charged on a pro-rated basis.

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