fidelity bond
- A contractual agreement that provides coverage to an employer or governing authority, safeguarding them from financial harm that may arise due to the fraudulent activities of an employee or a person in a position of trust
- The nonprofit organization decided to get a fidelity bond for protection against potential internal theft.
- Each manager at the financial consultancy was required to have a fidelity bond in place, to secure the company against fraudulent actions.
- The local village council updated their insurance policies to include a fidelity bond, to safeguard against potential dishonesty within the administration.
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