An employment agency surety bond is a form of a surety bond that is required by the government from all employment agencies before obtaining licenses that will allow them to practice are issued. Getting an employment agency surety bond is not as complicated as some people think, although knowing about some basic steps will massively help in the process.
- The first step necessary for anybody that is ready to get an employment agency surety bond is to visit the state capital of its business and request for information about getting a private employment surety bond. The process is often uncomplicated and will require that a form is filled after which the stipulated fees are paid.
- Anytime you visit your state capital for information, always look out for the labour department as most of these processes are carried out there, or else there is none at your state office.
- Confirm from your processing officers if you need the third party assistance to get a surety bond; this is necessary as some cases require that a form of guarantor or reference is provided. Furthermore, there are peculiar cases where some forms of insurance policies are needed before this bond is finally issued. Generally, most of these additional requirements are set for companies that have high default risk or bad credit history.
- Always ensure that the rules and regulations of both local and state regulatory institutions have been duly followed. Case of regular and consistent violations by applying agencies may result in denied application for the employment agency surety bond.