Nevada Employee Leasing Company Bond

Nevada Employee Leasing Company Bond

Employee leasing companies, also known as professional employer organizations (PEO), can file a $100,000 surety bond to the Nevada Department of Business and Industry if they have not been operating long enough to provide an audited financial statement. The Employee Leasing Company Bond is used as a financial guarantee that the PEO will complete all due payments they are bound to.

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Jet Insurance Company offers the bond for PEO’s to aid the Division of Industrial Relations (a sector of the Department of Business and Industry) in its mission to keep Nevada citizens and workers healthy and safe. If a professional employer organization fails to provide fulfill payments, like wage payments or contributions to benefits, claims can be filed on the bond for reimbursement.

What Is the Cost of the Employee Leasing Company Bond in Nevada?

The cost of the Employee Leasing Company Bond must be approved through underwriting. After a short review of your application, you will receive an email with an approved rate that you can purchase right away. The price you pay will only be a small percentage of the $100,000 bond limit.

In your emailed quote, you will be able to purchase the bond for a one-year term or more, depending on what is best for you. Jet’s exclusive monthly option may also be available, breaking up your payments to a fraction of the annual cost.

How to Apply for the Nevada Employee Leasing Company Bond With Jet

Applying for an Employee Leasing Company Bond is easy with Jet! Our application takes you through each step, only asking for the information necessary to provide you a quote. This includes your social security number (used for the soft credit check) and financial statements.

Once your application is submitted, a Jet underwriter will review your application. When it is ready, your quote will be emailed to you. A digital copy of your bond and a receipt will be sent to you after purchase.

Can Jet File the Employee Leasing Company Bond for Me? 

Yes! If you need to file it yourself, possibly with the application for your certificate of registration, you can request to do so when paying for your bond.

The original bond form must be submitted to:

Nevada Department of Business and Industry
Division of Industrial Relations
Workers’ Compensation Section
400 West King St, Ste 400
Carson City, NV 89703

Can I Cancel My Nevada Employee Leasing Company Bond and Get a Refund?

Yes, Jet can provide a refund on bonds that were cancelled prior to the end of their term. If you need to cancel your bond, send Jet an email at [email protected] to get the process started. Our team will notify the Department of the cancellation and they will begin the 30-day cancellation period.

Once the bond is officially cancelled, Jet will calculate any remaining time on the bond into a refund. If the bond was purchased on monthly payments a refund is not available, but payments will end after the Department releases Jet from liability.

How to Renew the Employee Leasing Company Bond With Jet

Renewing your bond only takes a minute with Jet. You will receive a mailed and emailed renewal notice. Just fill out the notice and submit payment to keep your bond active. If any additional information is needed, we will be sure to let you know.

Those utilizing monthly payment plans are not required to renew the bond; every month’s payment keeps the bond active with the Nevada Department of Business and Industry.

Avoiding Employee Organization Bond Claims and What to Do if You Get One

Essentially, the professional employer organization must complete all payments they are obligated to pay, including benefits, wages, and taxes. A shortcoming in this aspect or a violation of the Nevada Revised Statutes, Chapter 616B.670–697 can cause financial harm that will lead to a claim on the bond. Any party who has suffered damages can lay claim on the bond, whether it’s the Department for a lack of tax payments or an employee that didn’t receive wages.

Contact Jet right away if you receive a claim. Our team will investigate the claim to make sure you are not falsely accused. However, if it is found to be true, Jet must make the payment as restitution for your failure to provide the required funds. Since this payment is made as a result of your actions and on your behalf, you are responsible for paying Jet back.

Nevada Employee Leasing Company Bond Form

Notary Bond Application:

X

Business Information:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Employee Dishonesty Bond Application:

Business Information:

Business Description:

Coverage Requirements:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Contract Bond Application:

X

Business Information:

Owner Information:

Job Details:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Worker's Compensation Application:

X

Business Information:

Business Description:

Coverage Requirements

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information: