Alabama Structural Iron Workers Local Union No. 92 Wage and Welfare Bond

Alabama iron workers union 92 wage and welfare bond

The Structural Iron Workers Local Union No. 92 of Birmingham, Alabama requires employers of their union members to acquire a custom Wage and Welfare Surety Bond as an assurance that employee agreements will be honored and all earned compensation due will be paid out to the worker.

VIEW YOUR BOND PRICE

Jet Insurance Company offers the Structural Iron Workers Local Union No. 92 Wage and Welfare Bond to act as a financial guarantee for union members in cases of their employer failing to pay all earned salaries, wages, and/or benefits rightfully due.

What Is the Custom Limit and Price of the Wage and Welfare Bond?

The custom bond limit for the Iron Workers Wage and Welfare Bond is determined by the Union Board, and can be based on the amount of compensation expected to be earned by the hired union member of the employer.

At Jet, prices are based on a small percentage of the bond limit and the personal credit score of the applicant. Refer to the chart below for examples of custom bond limits and our preferred tier rates.

Bond LimitCost
$5,000$100
$10,000$200
$25,000$500
Alabama Iron Workers Union Bond Cost

For custom bond limits over a $10,000 amount, Jet’s underwriters may require additional information such as business financials of the employer. This review process is easy and an approved rate will be sent over quickly for immediate purchase.

The Wage and Welfare Bond Process With Jet

Applying for your Iron Worker Wage and Welfare Bond only takes a few minutes! Our online application will ask for some general contact information, the required bond limit, and your social security number for a soft credit check ⎼ but don't worry this won't have an affect on your personal credit score. Once submitted, a Jet underwriter will do a quick review of your application and immediately send over an approved rate. You can purchase your bond right away, and then Jet will send you over a digital copy and receipt.

The Structural Iron Workers Local Union No. 92 Wage and Welfare Bond form requires your original signature, as well as a signature from a present witness. After this step has been completed, the surety bond should be sent to the following mailing address.

Structural Ironworkers Local Union No. 92
2828 4th Avenue
Birmingham, AL 35233 

So long as the Union Board requires you to have the bond for the use of it’s members the bond must be in place. Prior to the bond’s expiration you will have to renew the bond. Jet will send you over an invoice prior to this period, just fulfil the required payment and you're all set!

If you need to cancel your Iron Workers Wage and Welfare Bond prior to the bond term’s expiration date, please send an email to [email protected] requesting cancellation. Jet will proceed with sending such notice to the Union Board. If accepted, liability of your bond will be released within 30 days. Once the bond has been officially terminated, any available premium left on the bond will be returned to you.

How Does an Alabama Employer Avoid Iron Worker Wage and Welfare Bond Claims?

Per the Union Board, the Structural Iron Workers Local Union No. 92 Wage and Welfare Bond is required to ensure that employers of their union members abide by all contractual agreements and properly compensate iron worker employees for their services. Meaning, all earned salaries, wages, and/or fringe benefits must be properly and promptly paid to the union member and, if applicable, pay dues directly to the union. If such compensation is not received, the iron worker may file a claim on the employer’s bond. The surety bond will cover what is owed to the employee for the work they performed. To avoid claims on your bond, simply honor your employee agreements and pay what is due to your employees.

If an official claim is filed on your bond, immediately contact Jet will all available claim documentation and information. The Jet team will begin a review and investigation of the bond claim. However, if the claim is found to be valid, Jet is legally obligated per the Structural Iron Workers Local Union No. 92 Wage and Welfare Bond form to make payment up to the bond limit. 

As the claim was filed due to your failure to compensate your employees, you are ultimately responsible for reimbursing Jet for the paid out claim. An omission to do so will lead to future difficulties in obtaining Wage and Welfare Bonds in Alabama.

Are There Other Alabama Wage and Welfare Bonds That an Employer Needs?

If you hire members from the Millwright Local Union 1192 and/or the International Brotherhood of Electrical Workers Local 136 Union, you are obligated to acquire such Wage and Welfare Bonds to their local unions.

Alabama iron workers union 92 wage and welfare bond

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: