IBEW Local No. 26 - Fringe Benefit Payment — required surety bond in Maryland. Apply online in minutes.
The IBEW Local No. 26 Fringe Benefit Payment Bond is a financial guarantee required by the union for specific employers. It guarantees that the bonded contractor will remit all required fringe benefit contributions, such as health, welfare, and pension payments, for their union employees on time and in full.
Electrical contractors and employers operating in Maryland who hire members of the International Brotherhood of Electrical Workers (IBEW) Local No. 26 generally need this bond. Your collective bargaining agreement with the union will dictate if you must secure this coverage.
IBEW Local No. 26 requires this bond to protect its members and the financial stability of the union's benefit trust funds. If an employer fails to pay the required benefit contributions, the bond provides a mechanism for the union to recover the missing funds.
To get started, click Apply Now to complete our ~5 minute secure online application. Our team at Noah Insurance Agency will process your submission, and once finalized, your bond will be delivered by email.
Premiums vary based on your required bond amount and personal credit profile. To get an exact price, submit an online application with Noah Insurance Agency or call us at 814-718-0060.
Required bond amounts vary widely and are often calculated based on your estimated monthly fringe benefit contributions or the number of union members you employ. You must verify your exact requirement directly with IBEW Local No. 26.
Yes, Noah Insurance Agency works with a nationwide network of surety providers, allowing us to find bonding solutions for applicants with varying credit histories, though specific rates will vary.
Term lengths and renewal requirements vary depending on the stipulations set by the union. You should consult your union agreement to determine your specific renewal requirements.
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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