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Fidelity bonds are like a kind of insurance policy for employers and companies that serve to protect the ownership and management of a business in the event that any of their employees steals monies, misappropriates funds, or acts in a dishonest fashion that ends up causing the business to suffer a financial loss. These types of bonds cover acts of theft, forgery, and embezzlement of funds that are the responsibility of the employee or placed within their care. These types of security are not liability bonds and do not apply to a series of other work related costs and damages including: employee mistakes or errors, poor or shoddy performance or workmanship, accidents at the workplace, and on the job injuries.
One common type of fidelity bonds is an ERISA bond. This is a form of bond whose name comes from the Employee Retirement Income Security Act (ERISA). The ERISA legislation was passed in 1974 to provide protection for employee benefit and pension plans. One requirement of the ERISA legislation is that businesses that currently operate a registered employee benefit or pension plan must obtain a bond or surety in the amount of ten percent of the worth of the employee benefit plan. In accordance with the overall purpose of the ERISA legislation, this provision is to protect employees and their benefit plans against inappropriate or illegal actions that may be taken by employers in the management and operations of these benefit plans.
Another popular form of fidelity bonds are criminal insurance bonds. Their main purpose is to protect business owners against deliberate criminal acts on the part of their own employees. These types of bonds do not replace the need to closely screen new hires for criminal backgrounds, but they do provide some measures to allow the business to recoup any such financial losses which may occur later.
Fidelity bonds may not be able to guarantee that employees won't bite the hand that feeds them by stealing from their employers, but they are a useful tool for management of a company to use as part of any employee anti-theft program. This anti-theft program should also focus on two other main areas. One is to ensure that the people who walk in your front door as employees are not likely to walk out the back with your products, goods, services, money, or corporate information.
The second is a firm and unwavering policy to severely punish employee theft, regardless of whether that theft occurs in the warehouse or the executive boardroom. This policy should be well known and well publicized to employees as part of an introduction or orientation to their new workplace. They need to know that theft of any of the employer's belongings or property will bring swift discipline that might include dismissal for a first offense. These programs, along with sureties and insurance, can help to protect not only the employer's property, but the integrity and honesty of all employees.
Contact http://www.bfbond.com to learn more about how to insure your business properly.
We all treat wealth like some big mystery wondering how these individuals got there. Actually there are three wealth strategies of the rich and famous and they are all about the investments.
If you are just dying to know the three wealth strategies of the rich and famous it's your lucky day - mutual funds, bonds, and index funds.
Of the three wealth strategies of the rich and famous let's look at strategy number one - mutual funds. Wall Street professional are very eager to help you invest in the right best mutual funds. How would you like to share in a $20,000,000 portfolio but be prepared for the up front commission. That said these funds are the funds of the big boys and the commission is just part of that game. That's why the three wealth strategies of the rich and famous are all about the investment.
The second of the three wealth strategies of the rich and famous is about bonds. For a while everyone hated bonds but they've come back into fashion and although they historically give a lower return they are also almost completely risk fr Reed Chairs Joint Hearing on the State of the US Capital Markets Part II
ee so not a bad idea if someone is thinking about putting part of the funds in a safe investment. Not only that smart investors began to realize that CEO's couldn't manipulate the profits for bonds like they could for stocks. You can see that why the three wealth strategies of the rich and famous are all about the type of investments you make.
And finally the last of the three wealth strategies of the rich and famous is all about index funds which have continuously outperformed at least 90% of the mutual funds on the market. Today there are several index funds but Vanguard was actually one of the first to offer index funds. The reason index funds are part of the three wealth strategies of the rich and famous is because of the exceptionally high returns on investment. It certainly speeds up the amount of time it takes to make more money.
Life isn't always fair and since we can't all have wealthy parents that will leave us a substantial fortune and most of us can barely find $100 a month to invest. So we need to use the three wealth strategies of the rich and famous so that you turn a little into a lot. Your future depends on it.
