IBEW Local No. 873 - Wage and Fringe Benefits — required surety bond in Indiana. Apply online in minutes.
The IBEW Local No. 873 Wage and Fringe Benefits bond is a financial guarantee for electrical contractors working with this union chapter in Indiana. It guarantees that the contractor will pay all agreed-upon wages, dues, and fringe benefit contributions on time. If the contractor defaults, the bond provides a mechanism for the union to recover these missing funds.
Electrical contractors who employ members of the International Brotherhood of Electrical Workers (IBEW) Local No. 873 typically need this bond. It is generally required for signatory employers entering into a collective bargaining agreement with this specific local chapter.
The union generally requires this bond to protect its members from financial harm caused by an employer's failure to meet payroll or benefit obligations. It ensures that the union's welfare, pension, and training funds receive the proper contributions outlined in the labor agreement. This financial safety net helps secure the livelihoods and benefits of union electricians.
To get started, click Apply Now to complete our secure, approximately 5-minute online application. Noah Insurance Agency will process your request and provide a customized quote. Once approved and paid, your official bond will be delivered directly by email.
Premiums vary based on the required bond amount and the applicant's credit history. Apply online with Noah Insurance Agency for an exact quote.
Bond amount requirements vary and are determined by IBEW Local No. 873 based on your specific collective bargaining agreement or expected payroll. You must verify the exact figure with the union before applying.
Yes, contractors with less-than-perfect credit can often still secure a bond. Contact Noah Insurance Agency nationwide at 814-718-0060 or apply online to explore your options.
The surety company will investigate the claim to ensure its validity. If the claim is valid, the surety pays the union up to the bond penalty amount, and you are then legally responsible for reimbursing the surety.
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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