IBEW Local No. 24 - Wages and Dues — required surety bond in Maryland. Apply online in minutes.
The IBEW Local No. 24 Wages and Dues bond is a type of union bond that guarantees contractors pay their unionized electrical workers properly. It ensures that all agreed-upon wages, fringe benefits, and union dues are remitted according to the collective bargaining agreement. If the employer fails to make these payments, the bond provides financial protection for the workers and the union.
Electrical contractors and employers who hire members of the International Brotherhood of Electrical Workers (IBEW) Local No. 24 in Maryland generally need this bond. It is typically required before an employer can enter into or maintain a collective bargaining agreement with the local union.
IBEW Local No. 24 requires this bond to protect the financial interests of its members and the union's benefit funds. It serves as a financial guarantee that employers will honor their contractual obligations regarding payroll, dues, and welfare contributions. Since union agreements vary, employers must verify exact bond requirements directly with the union leadership.
To get started, simply click Apply Now to complete our secure online application in about 5 minutes. Once submitted, our team at Noah Insurance Agency will review your request and provide a custom quote. After your purchase is finalized, your bond is typically delivered directly to you by email for easy filing.
Bond premiums vary based on the required bond amount and the applicant's financial and business credentials. Apply online with Noah Insurance Agency or call us at 814-718-0060 for an exact figure.
IBEW Local No. 24 sets the required bond amount, which is often calculated based on the number of union employees you hire or your estimated monthly payroll. Always verify your specific requirement directly with the union before applying.
If you fail to pay wages or remit union dues as agreed, IBEW Local No. 24 can file a claim against your bond to recover the owed funds. You are legally responsible for reimbursing the surety company for any valid claims paid out on your behalf.
Yes, Noah Insurance Agency is licensed nationwide and works with a wide network of carriers to help applicants with varying credit profiles secure the bonds they need. Apply online to explore your options.
Send us a note or call 814-718-0060 — a licensed agent will confirm the bond amount and requirements for you.
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