In Michigan, it is requires that Professional Employer Organizations (PEO) maintain working capital of not less than $100,000. If the Professional Employer Organization does not have this amount of working capital available, a Michigan Professional Employer Organization (PEO) Bond can be posted in lieu of the working capital requirement.
Bonds Express offers a Michigan Professional Employer Organization (PEO) Bond with a 99% approval rate.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The Michigan Professional Employer Organization (PEO) Bond holds you accountable for your business decisions.
By possessing a Michigan Professional Employer Organization (PEO) Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.