SMART Wage and Welfare Bond

Contractors must obtain a Wage and Welfare Bond (Union Bond) if they hire members that belong to the International Association of Sheet Metal, Air, Rail, and Transportation Workers Union (SMART for short).

VIEW YOUR BOND PRICE

Jet Insurance Company provides the SMART Wage and Welfare Bond to act as a financial assurance to the local workers union, as well as their members, that all employee contractual obligations will be upheld. Should any due wages or benefits go unpaid, funds from the surety bond will cover what is rightfully owed by reimbursing the financially harmed individual(s) and/or union.

What Is the Limit and Cost of the SMART Wage and Welfare Bond?

The SMART local union will determine the appropriate bond amount required. In most cases, the Wage and Welfare Bond limit is based on the average total of hours worked by union employees and must cover all fringe benefits or any other dues owed to the union.

At Jet, prices for the SMART Union Bond are a small percentage of the bond limit and are based on the credit score of the contractor (employer). In some cases, a review of the employer’s business financials will also be needed if a high bond amount is needed.

Contractors that are seeking up to a $10,000 bond can pay $200 for a one-year bond term or just $20 a month. You can find additional examples of bond limits and Jet’s preferred tier rates in the price chart below.

Bond LimitMonthly Cost1-Year Cost
Up tp $10,000$20$200
$25,000$50$500
$50,000$100$1,000
$100,000$200$2,000
SMART Wage and Welfare Bonds Pricing

The SMART Wage and Welfare Bond Process With Jet

Jet’s SMART Wage and Welfare Bond application can be completed online in just a few minutes. Some basic info is needed such as your contact details, bond limit required, and social security number for a soft credit check. No need to worry about that last part—it won’t impact your current score. 

As stated before, higher bond limits typically require a review so you may receive a call from a Jet underwriter to further discuss your application. Either way, you’ll quickly receive an approved rate that is ready for direct online purchase. Simply choose the best bond term for you and provide payment. Once this step is complete, you should receive a copy of your receipt and electronic bond form instantly. 

Jet can file your bond for you! However, if you would prefer to take care of the filing process yourself, the option to do so may be selected at checkout.

The original signed and sealed SMART Wage and Welfare Bond, along with any other required employee paperwork, must be filed with the local union office that your employee is an active member of.

The mailing address and contact details for each SMART local union across the U.S. can be found on the Local Union Directory webpage.

If you have additional questions, the International Association of Sheet Metal, Air, Rail, and Transportation Workers Union’s main mailing address and contact information can be found listed below. 

SMART Workers Union
1750 New York Avenue, NW, 6th Floor 
Washington, D.C. 20006
202-662-0800
[email protected]

How to Renew My Bond

For annually-purchased bonds, see Jet’s process to renew your bond. It’s simple!

How to Cancel My Bond

See the details surrounding cancelling your surety bond.

Bond Claim Process

What causes a Wage and Welfare Bond claim? What happens if a claim is filed? Find out here.

SMART 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: