Employee Fidelity Bond. An Employee Fidelity Bond shall be procured on all employees of the Provider insuring against loss from employee's dishonest acts. The Bond shall be in the amount of a percentage of the current year’s budget set forth in the schedule below: Total Budget Minimum Bond Amount Up to $100,000.00 20 percent of budget (Minimum $10,000) Total Budget Minimum Bond Amount $100,000.01 to $250,000 $20,000 plus 15 percent of all over $100,000 $250,000.01 to $500,000.00 $42,500 plus 13 percent of all over $250,000 $500,000.01 to $750,000.00 $75,000 plus 8 percent of all over $500,000 $750,000.01 to $1,000,000.00 $95,000 plus 4 percent of all over $750,000 $1,000,000.01 to $2,000,000.00 $105,000 plus 2 percent of all over $1,000,000 $2,000,000.01 to $5,000,000.00 $125,000 plus 1 percent of all over $2,000,000 $5,000,000.01 to $10,000,000 $155,000 plus ½ percent of all over $5,000,000 10,000,000.01 and upwards $180,000 plus ¼ percent of all over $10,000,000 In fixing such minimum bond, round to the nearest $1,000.
Employee Fidelity Bond. A company-wide blanket Employee Fidelity Bond intended to cover every officer, director, agent, subcontractor, or employee authorized to receive or deposit funds under the contract, or issue financial documents, checks, or other instruments of payment of program costs. This bond shall be in the amount of $100,000 or the highest planned single payment by CSB during the contract period, whichever is more.
Employee Fidelity Bond. A company-wide blanket Employee Fidelity Bond intended to cover every officer, director, agent, subcontractor, or employee authorized to receive or deposit funds under the contract, or issue financial documents, checks, or other instruments of payment of program costs. This bond shall be in the amount of $100,000 or the highest planned single payment by CSB during the contract period, whichever is more.
