What Does Being Bonded Mean in Canada?

In Canada, you will notice that any job application forms you look at and fill out will come with a little box to tick accompanied by the words “Are you bondable?”. First of all, you absolutely must know what it means to be bondable before you just check the box. In many fields, employers will require the people they hire to be what is known as bondable before they will even move along with the hiring process.

Knowing whether or not you’re bondable absolutely matters as this tells all jobs that you are deemed trustworthy. Hiring is already a risky process. However, being bondable acts as some form of a guarantee that you are a much safer bet.

What is Bondable?

By now, you’re likely wondering what the term bondable means and where it comes from. Bondable is very much like what the name suggests as it takes the idea of a bond and applies it to the person. Let’s now take a good look at the main definitions of the word bond.

• Criminal bonds are a sum that is paid as a form of agreement to entrust that someone will appear in court;
• A relationship created between entities based on a mutual interest;
• A legally backed agreement that offers insurance when services are not honoured as promised;
• A connecting force between two objects or surfaces.

While all of these definitions are helpful, the type of bond we are speaking about here is a little different. When it comes to your job, a bond works as a sort of question of insurance. Being bondable means that you give your company protection in the event that they suffer any loss due to fraudulent behavior.

You can sometimes even think of it as something your workplace should worry about when you need to manage insurance policy costs. If you are bondable, it is a great show that up until now, your behavior has been seen as respectful. This means that there is no good reason that you will be a risk or create circumstances that require an insurer to pay you out.

Read more about the being bondable and implications for Canadians with a criminal record.

What Does Being Bondable Mean on a Job Application?

When speaking about the word bondable in relation to employment, it means one’s ability to be insured by the hiring company. This is so that in the event of loss or theft by the employee company, they are insured for the value of the entire loss. This process will require several different checks such as credit checks and background checks.

A company that is looking to hire throughout various departments will often ask if the candidate is bondable. They may also ask you things such as “Can you be bonded?” and “Have you ever been bonded?”.

Some of these jobs include:

• Work in the Vulnerable Sector;
• Positions where there is sensitive or secret company information;
• Client Representative Service Jobs where you need to act with customers;
• Employment where you will need to handle cash directly;
• Jobs that will involve any use of client financial information such as credit card information;
• Baking institutions or financial services.

You may have heard that pretty much every person is bondable because everyone is able to buy insurance at varying price points. However, the very definition of bondable for a job just essentially means that you don’t have a criminal record. This piece will show the extreme diversity of employers that are actually concerned about whether or not you’re bondable.

Being bondable will almost always mean that they will be more willing to pay you more if they hire you. Being bondable is becoming more and more important as a requirement when you’re applying for jobs. This is because of the increasing use of criminal record checks when companies are looking at employment throughout many different industries in Canada.

Another reason that is far more discreet is that employers have had limits placed on them when it comes to asking questions regarding criminal records. If you do have any sort of criminal record, it is important that you answer no to this question on your job application. This is because of the fact that when the company who hired you tries to get you bonded, the company that insures you will do a complete criminal record check.

If it comes back with any prior conviction, the bond will be denied. You will then likely face repercussions from your employer.

 

What Jobs Require Me to Be Bondable?

When asked this question, the quickest answer is that you will need to be bondable if you have any job that deals with money, people, or any kind of information that may be sensitive like the ones outlined above. The reality of it is that most jobs do require you to be bondable at this point in time.

This means that it is super important to begin taking the steps toward becoming bondable if you aren’t already. There are many factors that play into this and while being bondable is most certainly preferred, it is also possible for future employers to pay the higher premium for your bond. Because of the fact that employers have to offer insurance, every single new hire will come with a fee.

The cost that is associated with your policy is very much dependent on whether or not you’re bondable. This means that many employees will choose to opt for bondable candidates.

Are You Eligible to be Bonded?

If you are wondering whether or not you’re eligible to be bonded, you likely are! Most of the time, losing your bondable status is a result of something else. Here are some of the top reasons that you may lose your bondable status or become unable to be bonded:

• Payment delinquencies;
• A criminal record;
• A poor credit or tax history.

The main thing that is being questioned most of the time is whether or not you’ve got a criminal record. When employers can access your past convictions and charges, it becomes a huge obstacle. Thankfully, Canada does often allow for pardons service to seal your record.

Don’t let your criminal record make you think twice about embracing new opportunities. Schedule a free consultation at your convenience or call us at 1 (866) 972-7366 today.