IBEW Local No. 873 - Wage and Fringe Benefits (1-15 Employees) ($25,000) — required surety bond in Indiana. Apply online in minutes.
The IBEW Local No. 873 Wage and Fringe Benefits bond is a commercial surety bond required for union contractors. It guarantees that the employer will appropriately pay all wages, union dues, and fringe benefit contributions for their union workforce. If the contractor fails to make these payments, the bond provides a mechanism for the union to recover the missing funds.
Electrical contractors operating in Indiana who employ members of the International Brotherhood of Electrical Workers (IBEW) Local No. 873 typically require this bond. This specific classification is generally designed for employers who maintain a workforce of 1 to 15 union employees.
The union requires this bond to protect its members from financial harm if a contractor defaults on their payroll or benefit obligations. It serves as a strict financial guarantee that the employer will honor the terms of the collective bargaining agreement. Because local rules can vary, contractors should always verify specific bonding requirements directly with the union.
Click Apply Now to complete our secure online application in about 5 minutes. Once your application is reviewed and approved, your bond will be issued and delivered securely by email. If you need assistance, please contact Noah Insurance Agency at 814-718-0060.
Premiums are not a flat rate and will vary based on the business owner's credit history and financial profile. To find out your exact cost, please submit a quick online application with Noah Insurance Agency.
Bond amounts vary based on union rules, your specific collective bargaining agreement, and the size of your workforce. You must verify your exact required bond amount directly with IBEW Local No. 873 before applying.
Yes, approval is often possible even with less-than-perfect credit, though it may result in a higher premium. Apply online to see your available options and get a firm quote.
Union bonds typically need to be renewed annually or as specified by the obligee. Noah Insurance Agency will contact you prior to your bond's expiration with instructions on how to easily renew your coverage.
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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