Individual Fidelity Bond

Definition of "Individual fidelity bond"

Pat Patton real estate agent

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Pat Pattonelite badge icon

Ultd, Llc

Bond that reimburses a business for loss caused by the dishonest act of an employee. Since crime insurance policies exclude coverage of dishonest acts of employees, it is necessary to have a fidelity bond for this protection. Fidelity bonds cover mercantile business and financial institutions.

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