“Failure to become employed after release is a major factor contributing to the high rate of recidivism. Having a record of arrest, conviction or imprisonment functions as a significant barrier to employment since employers generally view ex-offenders as potentially untrustworthy workers and insurance companies usually designate ex-offenders as being “not bondable” for job honesty … The bonds issued by the FBP [Federal Bonding Program] serve as a job placement tool by guaranteeing to the employer the job honesty of at-risk job seekers. Employers receive the bonds free-of-charge as an incentive to hire hard-to-place job applicants as wage earners. The FBP bond insurance was designed to reimburse the employer for any loss due to employee theft of money or property with no deductible amount to become the employer’s liability (i.e., 100% bond insurance coverage). The USDOL [U.S. Department of Labor] experiment has proved to be a great success, with over 42,000 job placements made for at-risk job seekers who were automatically made bondable. Since approximately 460 proved to be dishonest workers, bonding services as a job placement tool can be considered to have a 99% success rate.” Information is provided for: program background; highlights of the Federal Bonding Program; what to do if you are seeking bonding; procedures for bond purchases and management; Directory of State Bonding Coordinators; marketing tools; and news and resources.
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The Federal Bonding Program: A US Department of Labor Initiative
Accession Number: 027729