International Brotherhood of Electrical Workers/AFL-CIO - Payment of Payroll and Funds — required surety bond in District of Columbia. Apply online in minutes.
The International Brotherhood of Electrical Workers/AFL-CIO Payment of Payroll and Funds bond is a type of union surety bond. It serves as a financial guarantee that an electrical contractor will accurately and promptly pay wages, union dues, and fringe benefit contributions as outlined in a collective bargaining agreement.
Electrical contractors operating in the District of Columbia who hire members of the IBEW/AFL-CIO typically need this bond. It is a standard requirement for employers who have entered into a collective bargaining agreement with the local union.
The union requires this bond as a safeguard to protect its members and their associated benefit funds from employer defaults. It ensures that if a contractor fails to remit the required payroll or fringe benefits, there is financial recourse available to compensate the workers.
To secure your bond, click Apply Now to complete our secure online application in about 5 minutes. Once processed, your bond will be delivered conveniently by email. For any questions, contact Noah Insurance Agency nationwide at 814-718-0060.
Premiums vary based on the required bond amount, your business financials, and your credit history. Please apply online with Noah Insurance Agency to get an exact quote for your specific situation.
Required bond amounts vary widely depending on your estimated payroll, the number of union members you employ, and the union's specific guidelines. You must verify the exact bond amount required directly with the issuing IBEW local before applying.
Yes, Noah Insurance Agency works with a variety of surety carriers to assist applicants with different credit backgrounds. Keep in mind that approval requirements and premium rates will vary based on your credit profile.
Approval times vary depending on the complexity of the application and the requested bond amount. Complete our secure online application to receive an exact timeline and precise figures for your bond.
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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