dlamontm98 37 Report post Posted March 23, 2003 Are banks a good thing to target in the janitorial industry? Share this post Link to post Share on other sites
One Tough Pressure 580 Report post Posted March 24, 2003 Yes , as long as your Insurance and Bonding are up to date. Those are two of the most important items that they start with. Share this post Link to post Share on other sites
Joel Hawley 14 Report post Posted March 24, 2003 Yes , as long as your Insurance and Bonding are up to date. I know this is the wrong forum to ask but since you brought it up, what is the diffrence between being insured and being bonded? Share this post Link to post Share on other sites
ron p 500 Report post Posted March 24, 2003 insurance is for accident's bonding can be diffrent things. You can get a "bid bond" You can bond your employee's you can even get bonded out of jail. This type is money insurance. Someone else bonds you for X amount of money. If you dont return the bonder has to pay your tab. Bonding am employee is insurance againt theft. Like if you were window washing in someone's home and a ring was missing. That type of thing. You are researched by the insurance co. before they will bond you. This is what i believe to be true, i could be mistaken? Share this post Link to post Share on other sites
One Tough Pressure 580 Report post Posted March 24, 2003 Insurance would be to cover any items that you break or damage, such as their precious computer equipment. The Bonding, would be a way of showing that you have done some homework on your employees, and are not employing some convicted bank robbers, ready to make their next heist. Share this post Link to post Share on other sites
dlamontm98 37 Report post Posted March 25, 2003 He said that a bond is basically a waste of money and that most companies are really interested if you have insurance to cover damages. Anyway--couldn't you get some type of insurance that could cover damages and theft by your employees. Why would you want to bond somebody out of jail if they have stolen on the job and that you have a policy against theft in your company. Wouldn't it be the employee responsibility to deal with his own problems with they law. As the owner--its your responsibility to replace what was damaged and stolen, which should be covered by your insurance. Share this post Link to post Share on other sites
ron p 500 Report post Posted March 25, 2003 my story was just to show a sample of what a bond could be, not what you should or should not do. Share this post Link to post Share on other sites
One Tough Pressure 580 Report post Posted March 25, 2003 I am saying that Bonding shows potential clients that you have done your homework, on your employees. They do not want a crook in their place and this is a measure of good faith to show that you are not just hiring anyone, and that they are checked out. Share this post Link to post Share on other sites
Mike Williamson 198 Report post Posted March 25, 2003 I know that our company (my day job) has fidelity bond insurance, which covers us against employee theft, etc. We don't have to do anything to research our employees' backgrounds to get or keep that insurance. I'm not sure if this would suffice for bonding purposes, but you may want to check into it. Ours is through Nationwide Insurance. You may also want to make sure your agent understands that the bonding is for working inside a bank, that may change his tune about it being a waste of money. Share this post Link to post Share on other sites
Jon 533 Report post Posted March 25, 2003 Another way to look at it is say you hire an employee that has a felony, he or she will not be able to post bond. Would you want to put that person in a bank and trust him/her not to commit another crime? They would not hire your company if they knew about that person. Why take the risk? Like to many DUI's you won't get a license or insurance. Jon Share this post Link to post Share on other sites
