The Federal Bonding Program assists both employer and job seeker when the qualified job seeker’s past creates a barrier to obtaining commercial bonding to gain full-time employment. If a bond is the only thing standing in the way of the job seeker gaining the job, we can help.
We are able to provide bonding in $5,000.00 increments, up to $25,000.00, for the first 6 months of employment at no charge to the employer or the worker.
Workers must be of legal age for employment, the job must be for full-time employment and workers must be paid wages with federal taxes automatically deducted and NH Unemployment Insurance taxes paid. Self-employed persons cannot be covered. Bonding does not cover poor workmanship.
The employer contacts the state Bonding Coordinator at (603) 228-4079. The application can be taken over the telephone and is then forwarded to the bonding agent who provides the bond insurance documents to the employer, generally within two weeks. Bonding is retroactive of the day the employer wishes the job seeker to start.
If the employer wishes to extend the bond past the 6 months, a "transitional bond" is available through the bonding agent. As with any insurance, rates will vary dependant on the type of employment.
Additional Information on the Federal Bonding Program can be found at www.bonds4jobs.com
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