Plumbers Local No. 5 - Wage and Fringe Benefits — required surety bond in Maryland. Apply online in minutes.
The Plumbers Local No. 5 Wage and Fringe Benefits bond is a financial guarantee used in Maryland to ensure compliance with a collective bargaining agreement. It guarantees that a contractor will pay all required wages, union dues, and fringe benefits to the union members they employ. If the employer fails to make these payments, the bond provides a mechanism to compensate the workers and the union trust funds.
Plumbing contractors and construction companies operating in Maryland who employ members of the Plumbers Local Union No. 5 typically need this bond. It is generally required for any signatory employer entering into a collective bargaining agreement with this specific union.
The obligee, typically the union or its affiliated trust funds, requires this bond to protect union members from financial harm caused by a contractor's failure to pay wages or benefit contributions. It serves as a financial safety net, ensuring that workers receive their rightfully earned compensation and benefits regardless of the employer's financial stability.
Click Apply Now to complete our secure online application in approximately 5 minutes. Once your application is reviewed and approved, your bond will be delivered conveniently by email. For any questions during the process, you can reach Noah Insurance Agency nationwide at 814-718-0060.
Premiums vary based on the total bond amount required by the union and the applicant's financial and credit profile. To get an exact price for your business, please apply online or contact Noah Insurance Agency at 814-718-0060 for a personalized quote.
Bond amount requirements vary widely based on the terms of your collective bargaining agreement and the number of union employees on your payroll. You must verify the exact bond amount required for your company directly with Plumbers Local No. 5 or the associated trust fund before applying.
Yes, applicants with less-than-perfect credit can often still be approved for a wage and welfare bond, though the premium rates may differ. We work with various surety partners to find solutions for different credit situations, so we encourage you to apply online to see your options.
If the union files a valid claim for unpaid wages or missing benefit contributions, the surety company will pay the union or trust up to the full penal sum of the bond. The contractor is then legally obligated to reimburse the surety company for all payouts and associated expenses.
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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