IUOE Local 825 - Employee Benefit Funds ($25,000) — required surety bond in New Jersey. Apply online in minutes.
The IUOE Local 825 Employee Benefit Funds bond is a commercial surety bond that guarantees signatory contractors will make timely and complete contributions to union benefit programs. It serves as a financial safeguard ensuring that union members receive their earned fringe benefits, such as pensions and health insurance, according to the collective bargaining agreement.
Contractors and employers operating in New Jersey who hire members of the International Union of Operating Engineers (IUOE) Local 825 generally need to secure this bond. It is typically required for businesses seeking to become signatory contractors and employ union operating engineers.
The union requires this bond to protect its members from employers who might fail to pay the agreed-upon fringe benefit contributions. It provides a reliable source of funds to recover missed payments, safeguarding the financial well-being of the workers. Exact bonding criteria vary, so employers should verify current requirements directly with the union.
Click Apply Now to complete our secure, five-minute online application. Once your application is reviewed and the premium is paid, your bond will be issued and delivered directly by email. If you need assistance, contact Noah Insurance Agency nationwide at 814-718-0060.
Premiums vary based on the required bond size and the applicant's credit history and financial standing. Please apply online with Noah Insurance Agency for an exact premium quote.
Yes, bonding options are frequently available for applicants with less-than-perfect credit, though premium rates may vary. Submit an online application to determine your exact eligibility and figures.
Required bond capacities vary based on your specific collective bargaining agreement and the number of union employees. You must verify the exact amount required directly with the issuing agency or union local before applying.
If a valid claim is filed for unpaid benefit contributions, the surety company compensates the union up to the bond's limit. The employer is then legally obligated to reimburse the surety company in full for the settled claim.
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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