Joint Industry Board of the Electrical Industry - Wage & Welfare — required surety bond in New York. Apply online in minutes.
The Joint Industry Board of the Electrical Industry (JIBEI) Wage and Welfare Bond is a financial guarantee used in the New York electrical trade. It ensures that signatory electrical contractors pay all required union wages, fringe benefits, and related contributions on time. This bond serves as a safety net to protect union electrical workers from unpaid compensation.
Electrical contractors who employ unionized electrical workers affiliated with the JIBEI in New York typically need this bond. It is generally required for employers who have signed collective bargaining agreements with the local electrical union.
The JIBEI requires this bond to protect the financial well-being of union members and the integrity of union benefit funds. It guarantees that if a contractor defaults on their payroll or benefit obligations, funds are available to compensate the workers. This ensures reliable compliance with collective bargaining agreements.
Getting your bond is simple—just click Apply Now to begin the process. You can complete our secure online application in about five minutes. Once approved and processed, your bond will be delivered directly to you by email.
Premiums vary based on your required bond amount, business financials, and credit history. Apply online for an exact figure from Noah Insurance Agency (814-718-0060).
Bond amount requirements vary depending on the specific collective bargaining agreement and the number of union employees. Please verify your exact required amount directly with the Joint Industry Board of the Electrical Industry.
Approval times vary depending on the underwriting process and the completeness of your application. Submit a secure online application to get your specific timeframe.
Yes, union wage and welfare bonds typically must remain active for the duration of your collective bargaining agreement. You should verify specific renewal requirements directly with the issuing agency.
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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