IBEW Local No. 369 - Wage and Fringe Benefits — required surety bond in Kentucky. Apply online in minutes.
The IBEW Local No. 369 Wage and Fringe Benefits Bond is a financial guarantee required of employers utilizing unionized electrical workers in this jurisdiction. It guarantees that the employer will pay all required wages, union dues, and fringe benefit contributions on time. If the employer defaults on these payments, the union can file a claim against the bond to recover the owed funds.
Contractors and employers who hire union members from the International Brotherhood of Electrical Workers (IBEW) Local No. 369 typically need this surety bond. The union generally mandates it as part of a collective bargaining agreement before an employer is permitted to hire their members.
The union requires this bond to protect its members and associated benefit funds from financial harm if an employer fails to meet payroll and benefit obligations. It serves as a safety net, ensuring that workers receive their earned wages, pensions, and welfare benefits even if the employer experiences financial distress.
Click Apply Now to access our secure, five-minute online application. If you have questions, call Noah Insurance Agency at 814-718-0060 for assistance from our nationwide team. Once approved and processed, your bond will be delivered conveniently by email.
Premiums vary based on the total bond amount required by the union and the business owner's credit history. Because bond amounts and individual rates fluctuate, please apply online with Noah Insurance Agency for exact figures.
The bond amount is typically calculated based on your estimated payroll and the number of union members you employ. Requirements vary widely, so you must verify the exact bond amount needed with IBEW Local No. 369 before applying.
Yes, Noah Insurance Agency works with a wide network of surety carriers nationwide to help applicants with various credit backgrounds. Applying online is the best way to see the options and exact premiums available for your specific situation.
If a valid claim is filed due to unpaid wages or benefits, the surety company will compensate the union up to the bond's limit. You are then legally responsible for reimbursing the surety company for every dollar paid out on the claim.
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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