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Bond types · Bond type
Payroll Service Bond
A payroll provider may hold client money for wages and remittances without being the employer.
1 bond
Purpose
A payroll provider may hold client money for wages and remittances without being the employer. These forms may secure employee payments, benefit, or tax contributions, or obligations connected to labor services.
Who needs it
Employers, labor contractors, staffing businesses, and payroll or employee-leasing providers.
Who it protects
A wage or contribution bond is different from employee dishonesty coverage and from workers’ compensation insurance.
Category
Payroll Service Bond bonds
- Maine — Payroll Processor BondMaine · Employment, wages & benefits
Before you buy
- Describe fund custody, payroll processing, and remittance arrangements.
- Identify the employer of record and the party requesting security.
- Bring the wage agreement, contribution notice or labor-services licensing request.
Common questions
Is the applicant the payroll processor or the employer of record?
Describe fund custody, payroll processing, and remittance arrangements. Compare that information with the exact capacity, activity and obligee named in the written request. Similar catalog labels do not establish an interchangeable form.
Is a type guide the bond I should purchase?
A type guide explains the activity. Choose a jurisdiction-associated parent listing and compare its actual source options with your written requirement; the type page is not a purchasable form.