Nevada Wage and Welfare Bonds

Nevada Wage and Welfare Bond

Contractors who hire trade workers that are part of a union may be required to post a Wage and Welfare Bond. Local unions use Wage Bonds as financial assurance that workers will receive wages and the union will receive any contributions that the employer is bound to pay into fringe benefit trust funds according to the collective bargaining agreement. In the event of an employer’s failure to complete payment to a worker or union, restitution can be sought from the bond. 

VIEW YOUR BOND PRICE

When you purchase your Wage and Welfare Bond from Jet, you are working directly with the insurance company; Get your bond quickly and at an affordable rate.

What Is the Lowest Price for the Nevada Wage and Welfare Bond?

Jet offers the Wage Bond starting at $250 a year. The price is determined through underwriting (including a soft credit check) and will vary based on the bond limit needed. 

It is common for Wage Bonds to have a variable limit that is assigned by the union in an amount that would cover missed or incomplete contributions or wage payments. Some unions may have a specific limit for the bond, such as $30,000 for the IUPAT Local 159 and $60,000 for the Teamsters Local 631.

Which Unions Require a Wage and Welfare Bond in Nevada?

The following unions include a bonding requirement in their collective bargaining agreements: 

Unions that are not mentioned above may also hold a bonding requirement. You can get your Wage and Welfare Bond with Jet for other unions as well, just give us a call at 855-296-2663.

Why Is the Wage and Welfare Bond Required by Nevada Unions?

Unions have set up this bonding requirement as a way to protect their members from being shortchanged by employers, who are more often than not contractors. Unfortunately, the nature of the construction industry allows dishonorable people to conduct business fraudulently or negligently. This bond is enforced to ensure that workers will be paid for their labor and the union will receive contributions that will ensure their livelihood in the future.

How to Apply for a Nevada Wage and Welfare Bond With Jet

It only takes a few minutes to complete Jet’s application for a Union Bond. We have simplified the process, only asking for necessary information. Since a soft credit check must be conducted, this includes your social security number (don’t worry, your credit will not be affected).

If your bond limit is under $10,000, you will find an approved rate that is ready for purchase after submission. If the limit is higher, your application will be submitted for review. Any additional information will be requested at this time if needed. You will receive an email with your quote when it is ready.

After you purchase your bond, Jet will email you a digital copy of your bond and a receipt.

Can Jet File the Wage and Welfare Bond for Me?

Once you have completed the purchase of your Wage Bond, Jet will prepare the bond form and send it to the union from which you hired your workers. If you need to file the bond yourself, you can choose to do so when checking out. Once ready, the bond must be sent to the appropriate union at one of the following addresses: 

Teamsters Local Union 631
700 N Lamb Blvd
Las Vegas, NV 89110

Carpenters Joint Trust Fund
533 S Fremont Ave, 6th Floor
Los Angeles, CA 90071

United Association of Journeymen Local 525
700 N Lamb Blvd
Las Vegas, NV 89110

Southwest Regional Council of Carpenters
533 S Fremont Ave, 10th Floor
Los Angeles, CA 90071

International Union of Painters and Tradesmen Local Union 159
1701 Whitney Mesa Dr, Ste 105
Henderson, NV 89014

Can I Cancel My Wage and Welfare Bond and Get a Refund?

Yes, Jet is able to refund the unused portion of a Wage and Welfare Bond, depending on the remaining time left on the bond. If you need to cancel your bond, send an email to [email protected]. Our team will get in touch with the union to begin the cancellation period, which can take up to 90 days. Both you and Jet are still liable under the terms of the bond and this time must still be counted as active. Once the bond has been fully cancelled by the union, Jet will calculate the remaining time into a refund.

How to Renew the Nevada Wage and Welfare Bond

Jet will send you renewal notices when your Union Bond is nearing the end of the term. In most cases, all you need to do is select your new term and provide payment information. 

Occasionally, a review may be needed before a renewal can be offered. Jet will reach out if additional information is needed. An email with your renewal rates will be sent.

How to Avoid Wage and Welfare Bond Claims and What to Do When They Occur?

A Wage Bond is a tool used by a union to make sure that their members will receive the compensation they are owed. The workers rely on such compensation for their livelihood both now (wages or health care) and in the future (pension or workers’ compensation). In the event that the employer fails to provide payment that was specified in the collective bargaining agreement, action can be taken against the bond for restitution.

Once you receive a claim against your Union Bond, notify Jet as soon as possible. In some cases, like with the bond for the Teamsters Local Union 631, Jet is obligated to fulfill the missing or incomplete payment within 10 days. The amount of the claim can be as much as the full limit of the bond. Additionally, if the process of collecting these payments comes with extra costs (like attorneys’ fees), you will also be held responsible for these costs.

Are There Other Bonds That a Nevada Contractor Needs?

Yes, a contractor who is hiring many kinds of tradesmen can run into other Wage and Welfare Bond requirements from other unions. In addition, there are many construction-related bonds; check out Jet’s list of Nevada Construction Bonds.

Nevada 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: