Idaho Pipe Trades Trust Funds Bond Guide
In Idaho, you may need to file a surety bond if you employ members of Idaho Pipe Trades Trust union workers. This creates a financial guarantee that you will pay owed wages and benefits, contribute to welfare funds, and more.
Quick Bond Facts
- Purpose: To protect union member interests in collective bargaining agreements with employers
- Who Requires It: Idaho Pipe Trades Trust
- Who Needs It: Employers of Pipe Trades Trust members
- Coverage Amount: $10,000–$60,000
- Premium Rate: Varies, credit-based
Use this guide to learn all about the bonding process, then apply for your free quote.
What Are Idaho Pipe Trades Health and Welfare Plan Trust Funds Bonds?
Idaho Plumbers and Pipefitters Pension Plan/Pipe Trades Health and Welfare Plan Trust Funds bonds are required for employers when negotiating collective bargaining agreements (CBAs) with the union.
This type of surety bond guarantees a union-member employer will honor financial obligations and union contracts, such as:
- Payment of union dues
- Contributions to funds
- Delivery of benefits packages
How Much Do Pipe Trades Trust Funds Bonds Cost in Idaho?
The mandatory $5,000 coverage typically costs $100–$500 for plumbers and pipefitters union member employers in Idaho.
Exact pricing varies based on credit score and other financial factors. Apply for your personalized quote now.
SuretyBonds.com offers the lowest rates available from our nationwide network of surety providers with no added fees.
How Does an Idaho Pipe Trades Trust Funds Bond Work?
An Idaho plumbers and pipefitters wage and welfare bond binds three parties in a legal contract:
- Principal: The company employing plumbers and pipefitters union members
- Obligee: The Idaho Pipe Trades Trust requiring the bond
- Surety: The provider issuing the bond and backing the principal’s obligation
If a principal fails to uphold its obligations, the bond can be used to pay claims for owed wages and benefits up to the full coverage amount.
How Do I Get a Wage Bond in Idaho?
SuretyBonds.com provides the fastest and easiest way to get a wage and welfare bond in Idaho. Just follow these steps:
- Application: Submit an online quote request.
- Quote: Receive your free quote within one business day.
- Signatures: Sign your indemnity agreement and bond form.
- Delivery: Receive your official bond form via FedEx.
Upon receipt, file the bond documentation with the obligee as instructed.
Can I Get Bonded With Bad Credit?
Yes, you can often still get a wage bond even with low credit. We’ll work with our network of surety markets across the nation to match you with a surety provider at the lowest available rate.
Learn more about how credit score impacts bond premium rates here.
How to Renew Your Idaho Wage and Welfare Bond
Plumbers and Pipefitters Pension Plan/Pipe Trades Health and Welfare Plan Trust Funds bonds in Idaho last for a one-year term. We’ll contact you during the renewal period with an invoice and instructions on how to keep your bond policy active for another term.
