Illinois Private Employment Agency Bond
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How much does an employment agency bond cost in Illinois?
Owners of private employment agencies are required by the Illinois Department of Labor to post $5,000 surety bonds.
SuretyBonds.com issues these bonds instantly for just $100 for a one-year term. A multi-year discount is also available. Simply click Buy Now to purchase your bond online using our secure bond checkout. In just a few minutes, you can be on your way to becoming bonded as an Illinois private employment agency.
Why do I need this bond?
Illinois employment agency bonds ensure that principals (private employment agencies) adhere to all of the provisions of the Illinois Private Employment Agency Act. Specifically, this bond makes certain that employment agencies do not knowingly send individuals to employers who treat employees unethically or who force them to work in unsafe conditions. Under this bond, the principal is required to keep accurate records of employee orders and never charge clients for services not received.
If the principal violates any of the terms of the bond agreement and consumers are harmed, the surety will pay for all damages up to the full bond amount. The principal, in turn, must reimburse the surety for any damages paid out.
What’s the fine print?
Illinois private employment agency bonds expire one year after the effective date. If the surety decides to cancel the bond before the expiration date, it must file a written cancellation notice with the Department 60 days prior to the effective termination date. However, the surety remains responsible for any claims brought against the bond during this 60-day period.
How to become a private employment agency in Illinois
Applicants must take an exam before applying for a license with the Illinois Department of Labor. Once the applicant has passed the exam, he or she must submit the appropriate application along with a surety bond, a $50 filing fee, and two signed and notarized affidavits from two different professionals who have known the applicant for at least two years and can attest that the applicant is a person of good moral character.