Indiana Laborers Welfare, Pension, Training and ILDC Trust Funds - Fringe Benefits ($30,000) — required surety bond in Indiana. Apply online in minutes.
The Indiana Laborers Welfare, Pension, Training and ILDC Trust Funds Fringe Benefits Bond is a type of commercial surety bond that guarantees an employer will make timely contributions to union trust funds. It serves as a financial safeguard, ensuring that union members receive their earned health, pension, and training benefits as outlined in their collective bargaining agreements.
Contractors and employers in Indiana who hire members of the Indiana Laborers Union generally need this bond. It is typically required for businesses that are signatory to union agreements stipulating fringe benefit contributions. Because requirements vary, employers should verify their specific bonding obligations directly with the union or trust fund.
The trust funds require this bond to protect the financial interests of union workers and the stability of the union's benefit programs. If an employer defaults on their required pension, health, or training fund contributions, the bond provides a mechanism for the trust to recover the unpaid dues.
Click Apply Now to start your secure online application, which takes approximately 5 minutes to complete. Once processed and approved, your bond will be delivered directly to you by email. For any questions, you can contact Noah Insurance Agency nationwide at 814-718-0060.
Premiums vary depending on the required bond amount, the applicant's credit history, and business financials. You will need to apply online with Noah Insurance Agency to receive an exact rate.
The Indiana Laborers trust funds determine the necessary bond amount, often based on the number of union members employed or the estimated monthly benefit contributions. Requirements vary, so always verify the exact required figure with the issuing agency.
Yes, applicants with less-than-perfect credit can often still secure a bond, though their premium rates may vary. Submit a secure online application to find out what options are available for your business.
Approval times vary depending on the applicant's profile and underwriting requirements. However, completing our 5-minute online application is the fastest way to start the process and get your bond delivered via email.
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