Iron Workeres Local No. 396 - Fringe and Wage Benefits — required surety bond in Missouri. Apply online in minutes.
The Iron Workers Local No. 396 Fringe and Wage Benefits bond is a type of union surety bond utilized in Missouri. It guarantees that signatory contractors and employers will make timely payments for employee wages and required union fringe benefit contributions. If an employer defaults on these financial obligations, the bond provides a mechanism for the union to recover the unpaid compensation.
Construction contractors and employers who hire members of the Iron Workers Local No. 396 in Missouri typically need this bond. It is generally required for businesses that enter into a collective bargaining agreement with this specific local union chapter.
The union requires this bond to protect its members from financial harm caused by an employer's failure to pay negotiated wages or benefit contributions. It helps ensure that the union's trust funds, health and welfare programs, and pension plans remain adequately funded. By mandating this bond, the obligee secures a financial guarantee that union members will receive their rightfully earned compensation even if the employing company faces insolvency.
To get started, simply click Apply Now to complete our secure, approximately 5-minute online application. Once submitted, Noah Insurance Agency will process your request, and your final bond will be delivered by email. For any assistance during the application process, you can reach our licensed nationwide team at 814-718-0060.
Premiums are based on your specific business details, financial history, and the total bond amount required, as underwriting requirements vary. Please apply online for exact figures or contact Noah Insurance Agency at 814-718-0060 for a personalized quote.
Required bond amounts fluctuate based on the number of union employees you hire, your estimated payroll, and the terms of your collective bargaining agreement. You must verify the exact bond amount required with the Iron Workers Local No. 396 before applying.
Approval times vary depending on the complexity of your application and individual underwriting factors. However, once approved and payment is processed, your bond will be delivered promptly by email.
If you fail to pay the required wages or fringe benefits, the union may file a claim against your bond to recover the missing funds. If the surety company pays out a valid claim, you are legally responsible for reimbursing them in full.
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