Why do private investigators need a surety bond?
The reason private investigators need a surety bond is that they are entrusted to carry out activities that require trust and integrity. A surety bond offers added security for any clients or businesses hiring a PI. It also ensures the protection of the public by requiring a PI to meet all statutory requirements in order to provide their services, including being licensed through their state agency, having insurance coverage, and completing continuing education hours.
If a client or business hires an unlicensed PI or one whose license has been revoked then they have no recourse under the bond if something were to go wrong. Also if the PI fails to maintain proper licensure from one year to another then there would be no opportunity for them to seek compensation from the bonding company either since the bond only applies for a limited time.
Pre-employment screening is also an important function of a surety bond. A client or business can make use of a PI’s services with confidence, safety, and peace of mind knowing the PI they hire is trustworthy and properly vetted. For those who may be hesitant to utilize the services of a private investigator, it provides added security.
What is a private investigator surety bond?
As a private investigator, you are required to have a surety bond in order to be employed. The bond is necessary because of the nature of your job and what it entails. This type of bond is also known as an “Agency Bond” and serves as indemnity for any damages suffered by third parties due to any negligence or failure on your part during the course thereof.
The following list includes some reasons why having such a bond might benefit you: – It provides indemnity against errors and omissions – It protects your clients – both personal and commercial – from potential losses that they may suffer due to any errors or mistakes made by you within the fulfillment of your duties.
It covers possible legal liabilities and responsibilities that may take place if you violate statutory laws or other regulations that might govern private investigators – It provides protection against damages you may cause to third parties as a result of your negligence or any kind of wrongdoing.
How do you get a private investigator license in Illinois?
In order to receive a PI license in Illinois you need to have completed the following prerequisites: – Be least 21 years of age – Have at least 3,000 hours of experience working as a private investigator within the last 5 years, or 10,000 hours if you’re not a citizen of the States.
These must be verifiable and documented by way of your employer’s stamp on official time sheets – Possess no less than three letters of recommendations from former employers (no more than two may be family members) and complete training for unarmed private security personnel through an approved course
What do you need to provide when applying?
When filling out your application form for licensure in the State of Illinois you will need to submit: The appropriate licensing fee along with your fingerprint cards (which can be obtained from the ISP after payment is submitted) – these cards will determine if you are eligible to work for the agency and may also be used as proof of meeting other qualifications, like no criminal record.
The original or certified copy of your high school diploma, GED, or transcripts – A letter of good standing from any state in which you were authorized to act as a PI within the past 3 years (this document must also detail how many hours you’ve worked there).
Why are surety bonds required?
PI agency bonds may serve as a means to protect others from the actions of the PI in which they hire. An example is if a client hires a PI and later on it’s found out that the agent was working with an expired license the bond would provide the proper coverage when despite negligence, or other unprofessional behavior has occurred. It can be easy for someone to claim that they were harmed due to an error made by you but without such insurance, you’d have no way of challenging any such allegations
A surety bond never guarantees that you, as an applicant, will be successful in obtaining the agency license from the state of Illinois. However, it does guarantee that if unsuccessful or if there are certain debts and obligations that have been neglected during this process, then the surety company is responsible to pay them instead of you. This ensures that all parties remain protected throughout this process without any unnecessary costs being incurred by anyone.
One final point to keep in mind is something called “moral character”. Every single state has its own set of rules and regulations regarding what is considered a moral character. In Illinois here are some examples of what they consider to be considered as a lack of moral character: – Having a prior conviction for a felony or any misdemeanor that involves fraud, dishonesty, theft, or moral turpitude – Being involved in an illegal endeavor such as the sale of drugs
Private Investigator License surety bonds exist to cover certain obligations and responsibilities that may come about through neglectful behavior on your part – It allows you your freedom but also ensures that others will remain safe and protected from compromising situations or instances where someone is
Who benefits from a surety bond?
Most bonds benefit both you and the consumer. The PI company or agency benefits from a surety bond because it guarantees them that whatever is required of the agent will be met, for example, if they require a license in order to work then it’s guaranteed that this specific requirement will be fulfilled by the security provider.
On the other hand, consumers benefit from these bonds because they can have an additional layer of trust which makes them feel safer when hiring someone to look into matters on their behalf.