International Brotherhood of Electrical Workers Wage and Welfare Bond

IBEW Wage and Welfare Bond

The International Brotherhood of Electrical Workers (IBEW) is one of the largest unions in North America, with local chapters across the United States and Canada. The IBEW seeks to protect the benefits, wages, and rights of its workers. One of the ways local unions do this is through the Wage and Welfare Bond (aka Union Bond or Electrical Contractor Surety Bond), which provides a guarantee of the payment of wages or fringe benefits if the employer fails to comply with the obligations indicated in the Collective Bargaining Agreement.

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The International Brotherhood of Electrical Workers has members in Canada as well, but Jet Insurance Company is serving local chapters that are in the United States at this time.

What Is the Cost of the IBEW Wage and Welfare Bond? How Is the Bond Limit Determined?

Bond limits vary depending on the Collective Bargaining Agreement that the local chapter uses with employers. Some may have a set limit, while others use a calculation based on the number of union workers you hire or how many hours they work.

The cost of the Wage and Welfare depends largely on the bond limit that the local chapter of the IBEW requires. Regardless of the limit, you will only have to pay a small portion of the limit to purchase your bond; rates can start as low as $250 and are based on credit.

Bond LimitMonthly Cost1-Year Cost
Up to $10,000$20$200
$25,000$50$500
$50,000$100$1,000
$100,000$200$2,000
IBEW Wage and Welfare Bond Rates

If the bond limit is under $10,000, a rate will be provided at the end of the application. If greater than $10,000, a quote will be provided following an underwriter’s review.

Why Is the IBEW Wage and Welfare Bond Required?

Although the International Brotherhood of Electrical Workers put in the work to gain fair wages and benefit funds set up for their members, all of it is for nothing if the employer doesn’t hold up their end of the Collective Bargaining Agreement. Another safety measure was needed to ensure that electrical workers will receive the wages and benefits they worked for: the Wage and Welfare Bond. 

On an employer’s failure to provide a paycheck, pay union dues, or contribute to a vacation fund, pension fund, or trust fund, the union can seek due payment via the Wage and Welfare Bond. In short, the bond financially protects the union and its members.

How to Apply for the IBEW Union Bond With Jet

Applying for the IBEW Union Bond is easy through Jet’s online application. You’ll need to provide which local chapter is requiring the bond, relevant business information, and a social security number. A credit check is part of the bond application process, but don’t worry, it has no effect on your credit score. 

Once you’ve completed the application, it will be submitted for review (unless your limit is under $10,000—in that case, a quote will be ready for you). A Jet team member will reach out to you for any additional information that may be needed. When you’ve been approved for rate, they will be sent to you by email with a link that you can click to purchase your bond. 

How Does the IBEW Wage and Welfare Bond Get Filed?

After payment, Jet will prepare your bond form and mail it over to you (a digital copy will be emailed to you along with a receipt of purchase). Once you have the Union Bond, you will need to sign it. In some cases, like the Florida IBEW Local Union 349, a witness signature is also required. 
When all signatures have been placed on the bond, it can be submitted to the local chapter of the International Brotherhood of Electrical Workers. You can use the Local Union Directory to find the address needed.

Are There Other Bonds That an Employer Needs?

Oftentimes, the employer of an electrical worker is a contractor. In addition to a Wage and Welfare Bond that is needed when hiring union members, the contractor will typically need a Contractor License Bond. 

Additional Union Bond Information

How to Renew My Bond

See how to renew your Wage and Welfare Bond with Jet.

How to Cancel My Bond

See the details surrounding canceling your bond.

Bond Claim Process

What causes a claim and what do you do if one is filed? Find out here.

IBEW Electrical Contractor Surety Bond Form Sample

IBEW Wage and Welfare Bond Form

Notary Bond Application:

X

Business Information:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Employee Dishonesty Bond Application:

Business Information:

Business Description:

Coverage Requirements:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Contract Bond Application:

X

Business Information:

Owner Information:

Job Details:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Worker's Compensation Application:

X

Business Information:

Business Description:

Coverage Requirements

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information: