Ohio Carpenters’ Wage and Welfare Bond

Ohio Carpenters Wage and Welfare Bond

Unions that speak for carpenters in Ohio can request the filing of a surety bond by a contractor to secure the payment of wages and welfare benefits. Jet Insurance Company offers the Carpenters’ Wage and Welfare Bond as a guarantee that should the contractor or other employer fail to supply payment, the bond will disburse funds. Anyone who hires carpenters, cabinetmakers, floor coverers, interior systems specialists, lathers, millworkers, millwrights, pile drivers, or residential and framing contractors may need this bond if the worker is unionized.

SECURE YOUR BOND

Carpenters are secured under the protection of unions, such as the Indiana Kentucky Ohio Regional Council of Carpenters (IKORCC) and its local unions. By requiring this bond, also known as the Fringe Benefit Bond, the union shows that it cares about keeping its members' livelihood intact. 

What Is the Price of a Carpenters’ Fringe Benefit Bond?

The cost of a Carpenter’s Wage and Welfare Bond starts at $250 with Jet but is dependent on credit standing and the amount required for the bond. If a limit is particularly high, a review of business and personal financials may be needed. The chart below shows possible limits with rates for an applicant with preferred credit.

Bond LimitCost
$10,000$250
$25,000$500
$50,000$1,000
Ohio Carpenters’ Wage and Welfare Bond Cost

The bond limit is given by the union in an amount that would be able to cover the wages or contributions in the event that the employer doesn’t complete payment. Limits will be determined in the Collective Bargaining Agreement.

The Carpenters’ Wage and Welfare Bond Process With Jet

Applying with Jet is as easy as it gets! Our online application will only ask for the information that is needed. Among this is a social security number, which must be used for the soft credit check. In a few minutes, you will either be approved for a rate and be able to purchase your bond or, for bond limits that are over $10,000, your application will be submitted for review. If any additional information is needed, one of our team members will reach out to you; otherwise, you will receive your emailed quote when the review is finished. 

Jet can file your Carpenters Wage and Welfare Bond for you, but if you would like to file it yourself (perhaps with other paperwork), you can choose that option when buying your bond. The original bond must be submitted to the address below:

IN KY OH Regional Council of Carpenters
771 Greenwood Springs Dr
Greenwood, IN 46143

As long as you have unionized carpenters working for you, you need an active bond. Jet will send you a renewal notice through mail and email, and it only takes a couple of minutes to fill it out and pay for the next term. If you no longer need the bond, send Jet an email to [email protected] and we will contact the union to begin the cancellation process. Usually, this takes about 30 days. After the cancellation is complete, Jet will calculate a refund for any unused time left.

How Does a Contractor Avoid Ohio Carpenters’ Fringe Benefit Bond Claims?

A contractor who holds a Carpenters’ Wage and Welfare Bond is bound to pay carpenters their wages and pay into the fringe benefit funds, as indicated in the Collective Bargaining Agreement. Should the contractor make an incomplete payment or is missing a payment altogether, disciplinary action may be taken, including recovery from the bond. The missing payment will be brought to your attention by notice or Jet will receive evidence showing the missing payment; you will have 10 days to remedy the missing payment before action is taken on the bond. 

If you still fail to make the payment, Jet must pay the claim as an extension of your credit. Since you withheld payment in the first place and refused to comply after the complaint, you are responsible for paying Jet back.

Are There Other Wage and Welfare Bonds That a Contractor Needs?

It is possible that other unions operating in the State of Ohio may require a Wage and Welfare Bond for contractors to hire their members. Check out Jet's full list of Ohio Construction Bonds.

Ohio Carpenters 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: