Labor Union Wage & Benefit Surety Bond

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Bond Penalty: Set pursuant to each union's formula per participant and prevailing labor pact(s)

A contractor, labor union leader or representative responsible for ensuring fair wages and benefits to its members require labor union surety bonds. A Labor Union Wage and Benefit Surety Bond is a critical tool that helps protect the financial interests of union members and ensures compliance with state and/or federal regulations.

A Labor Union Wage and Benefit Surety Bond, also known as a Union Wage Bond or Union Benefit Bond, is a type of surety bond required individual locals to guarantee that participating contractors will fulfill their financial obligations to union members hired under the existing labor pact. A union agreement generally ensures payment of prevailing wages and benefits. The labor union bond provides a layer of protection for union members by guaranteeing that those wages, benefits, and other financial contributions imposed under the pact.

Our Labor Union Wage and Benefit Surety Bonds are tailored to meet the specific requirements of each local and in compliance with any state and federal regulatory rules in their particular jurisdictions. Because of the prevalence of claims and the extremely diverse treatment of collection against a defaulting contractor and sureties, this class of surety bond is difficult to underwrite. Expert guidance through the bonding process, from application to renewal, personalized review of union's claim manuals and scrutiny of bond forms is imperative.

National surety bond leader, Surety One, Inc., is a national underwriter of surety bonds for the general contracting sector. We will consider applications for all locals that require this class of financial assurance. Form more information about a labor union surety bond contact us at (800) 373-2804, email or click here for a live chat with an underwriter.

Surety bond application review and quoting are free of charge. There is no obligation to purchase.