IBEW Local No. 86 - Wage and Fringe Benefits — required surety bond in New York. Apply online in minutes.
The IBEW Local No. 86 Wage and Fringe Benefits Bond is a financial guarantee required of employers with unionized electrical workers in New York. It ensures that the employer will make all required wage payments and contributions to union benefit funds on time. If the employer defaults, the bond provides financial recourse to cover the unpaid wages and benefits.
Electrical contractors and construction businesses operating in New York that employ members of the International Brotherhood of Electrical Workers (IBEW) Local No. 86 typically need this bond. It is generally required by the union as a condition of executing a collective bargaining agreement.
The union requires this bond to protect its members from financial loss if an employer fails to meet their payroll and benefit obligations. It acts as a reliable safety net, guaranteeing that workers receive their earned wages, health, welfare, and pension fund contributions. Exact bond requirements vary, so contractors must verify details directly with the union before obtaining coverage.
Click Apply Now to complete our secure, approximately 5-minute online application. Our team at Noah Insurance Agency will review your submission and provide a personalized quote. Once approved and payment is processed, your official bond will be delivered directly by email.
Premiums vary based on the applicant's credit history, financial standing, and the total bond amount required by the union. Apply online or contact Noah Insurance Agency at 814-718-0060 for an exact quote.
Bond amounts are typically determined by the union based on factors like the size of your workforce and estimated payroll. You must verify the exact bond amount required with IBEW Local No. 86 before submitting your bond application.
Yes, applicants with less-than-perfect credit may still qualify for a bond, though they may face higher premium rates. Underwriting requirements vary, so submitting an application is the best way to determine your options.
Once you receive the finalized bond document from us via email, you must sign it as the principal and submit the original document directly to the union or the designated fund administrator according to their current filing instructions.
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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