Free Fidelity Bond Form Template

Tips For Using the Fidelity Bond Form Template

As an employer, you need to protect your business against financial losses. Employee dishonesty and fraud can occur at any time, leaving you with significant losses.

However, with a fidelity bond form, you can protect your company from such risks. This insurance policy provides coverage for monetary losses caused by employee dishonesty or fraud.

However, securing fidelity bonds is a challenging and time-consuming process. With an online fidelity bond form template, you can get the protection your company needs in minutes!  

Find out how to get a fidelity bond effortlessly with a Formplus template.

What Is a Fidelity Bond Form?

A fidelity bond form is a type of insurance document that protects an employer from financial losses caused by dishonest or fraudulent actions by their employees. It guarantees that any financial losses incurred as a result of an employee's fraudulent or dishonest actions will be reimbursed to the employer.

This type of insurance is particularly important for businesses that handle large sums of money, sensitive information, or valuable assets. It typically outlines the insurance policy's terms and conditions, such as coverage limits, types of losses covered, and the circumstances under which the insurance company will pay out a claim.

Most business owners use fidelity bonds because they provide additional protection beyond traditional insurance policies.

What Is an Example of a Fidelity Bond?

Example 1

Most bank purchase fidelity bonds to protect themselves against losses caused by employee dishonesty or fraud. This bond would cover employees who handles money and other valuables.

Let's say a bank teller is in charge of cash deposits and withdrawals. If a teller steals money from a customer's account, the bank can use the fidelity bond to make up for the losses. 

Example 2

Let's say you've hired a building contractor to remodel your house. You can require the contractor to obtain a fidelity bond, which protects you from losses caused by the contractor's employees' dishonest or fraudulent actions.

How Do I Get a Fidelity Bond?

1. Go to Formplus Fidelity Bond Form Template.
2. Add new fields to fit the insurance company’s specifications. For example, specify your coverage amount, and other relevant details.
3. Save the form.
4. Next, customize the form’s design and preview to ensure it’s responsive on all devices.
5. Choose your preferred settings- notifications, submission deadline, form privacy, and other settings.
6. Fill out the form if you're the one getting a fidelity bond for yourself. If you’re requiring an employer e.g a hired contractor to get a fidelity bond, share the form with them via email, QR code, or embed it on your website.
7. Submit the filled form to the insurance company.
8. Monitor the form’s responses to know when it gets approved.

Conclusion

Getting a fidelity bond for your business protects you against financial losses caused by employee dishonesty or fraud. But it can be a complicated process; using the Formplus fidelity bond form template simplifies the process.

Want the peace of mind that comes with knowing you’re protected?  Get a fidelity bond today with the Formplus fidelity bond form template.