IBEW Local No. 551 - Wage and Fringe Benefits — required surety bond in California. Apply online in minutes.
The IBEW Local No. 551 Wage and Fringe Benefits bond is a commercial surety bond required for signatory electrical contractors. It guarantees that employers will accurately pay wages and make all required contributions to the union's benefit funds as outlined in their collective bargaining agreement. If a contractor defaults on these payments, the bond protects the union and its members from financial loss.
Electrical contractors and employers who hire members of the International Brotherhood of Electrical Workers (IBEW) Local No. 551 typically need this bond. It is generally required for businesses that have signed a collective bargaining agreement with this specific local union in California.
IBEW Local No. 551 requires this bond to ensure that union workers receive their earned wages and that critical health, welfare, and pension funds are properly funded. It acts as a financial safety net, protecting the union and its members against employers who might fail to meet their contractual payroll and benefit obligations.
To get started, click Apply Now to complete our secure, approximately 5-minute online application. Once approved and finalized, your bond will be delivered directly to you by email. For any assistance, you can always reach out to Noah Insurance Agency at 814-718-0060.
Premiums vary based on the required bond amount, as well as the applicant's credit history and financial standing. Please apply online with Noah Insurance Agency for an exact quote.
Bond requirements vary based on your specific collective bargaining agreement and the number of union members you employ. You must verify your exact required bond amount directly with IBEW Local No. 551 before applying.
Approval times vary depending on the underwriting process and your company's unique financial profile. Submit our quick online application or call Noah Insurance Agency at 814-718-0060 to start the process.
Yes, Noah Insurance Agency is licensed nationwide and works with a wide network of carriers to secure bonding for applicants with various credit backgrounds. Applying online is the most effective way to determine your eligibility and exact terms.
Send us a note or call 814-718-0060 — a licensed agent will confirm the bond amount and requirements for you.
Noah Insurance Agency · Licensed Nationwide