IBEW Local No. 317 - Wage Welfare — required surety bond in West Virginia. Apply online in minutes.
The IBEW Local No. 317 Wage Welfare bond is a financial guarantee used in collective bargaining agreements. It guarantees that an employer will remit all required wages, fringe benefits, and union dues for their electrical workers. If the employer defaults on these financial obligations, the bond provides a mechanism for the union to recover the funds.
Electrical contractors and construction companies hiring union workers from IBEW Local No. 317 in West Virginia typically need this bond. Employers who enter into a collective bargaining agreement with the local union must usually secure this coverage before union members begin work.
The union requires this bond to protect its members from employers who fail to pay wages or contribute to health and pension funds. It ensures that electrical workers receive their rightfully earned compensation and benefits. Since specific mandates vary, employers should verify all requirements directly with the union.
Click Apply Now to complete our secure online application in about 5 minutes. Our team at Noah Insurance Agency (814-718-0060) will review your information and provide a tailored quote. Once accepted and paid, your bond is conveniently delivered directly to you by email.
Premiums vary based on the specific bond amount required by the union and the financial profile of the applicant. Please apply online with Noah Insurance Agency for an exact figure.
IBEW Local No. 317 determines the required bond amount, often basing it on your estimated payroll or the number of union members you employ. You must verify this exact amount with the union prior to purchasing the bond.
If the union files a valid claim for unpaid wages or benefits, the surety company will compensate the union up to the penal sum of the bond. The employer is then contractually responsible for reimbursing the surety company for all paid claims and associated costs.
Yes, applicants with various credit histories can often be approved. Because underwriting requirements vary, the best way to find out your options is to submit our quick online application.
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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