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rojones405 · Apr 1, 2009, 12:32 PM

How to go about getting bonded

Stringer · Apr 1, 2009, 09:12 PM

Only if the particular client wants it. It is not mandatory to have it, only on a job by job basis, again if they ask for one. If they do, it will generally be in the bid package information. Then the insurance company that provided you with your liability insurance can provide you with bonding insurance as well. There obviously is a charge and that cost depends upon the $ size of the contract.

A bond in the cleaning business is to guarantee that you will perform the services as specified, if you fail then you forfeit the bond and it costs you the bond. I will say here that if that happens, you will have a very hard time getting any future bonding.

But, I definitely would get liability insurance for you / your company for your protection and that of your clients.

I hope that I answered your question, please let me know if you have further questions, thanks.

Stringer

Cleaningman23 · Apr 5, 2009, 02:43 PM

Getting bonded is a waste of money

All you need is insurance

Cleaning business owner

Stringer · Apr 5, 2009, 03:10 PM

As I said above, you will only need it IF the prospect requests/demands it.

Obviously, since you can purchase it on a job by job basis, this expense only applies IF you decide to bid that job... don't bid it... no cost for bonding insurance. I do agree that liability insurance for your company is a must, but bonding is not unless you choose to bid those jobs.

Too often the terms. Liability insurance and bonding are confused.

Stringer

Fr_Chuck · Apr 5, 2009, 07:04 PM

You may have a client, a bank or some business that will require it.

Or if your employees are handling your money, you may want to bond them to protect you.

Stringer · Apr 5, 2009, 07:22 PM

Originally Posted by Fr_Chuck

you may have a client, a bank or some business that will require it.

Or if your employees are handling your money, you may want to bond them to protect you.

I agree Chuck, since they stated that they have a 'cleaning company' I was addressing specifically how it would apply to that. Although in some cases I could see where and employee would possibly handle some cash, in most instances they wouldn't.