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Union Wage and Welfare Bonds

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New Jersey Union Wage and Welfare Bond Guide

In New Jersey, you may need to file a surety bond if you employ unionized 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 between unions and employers
  • Who Needs It: Employers of union members in various industries, especially construction and specialized trades such as plumbers, iron workers and electricians
  • Premium Rates: Vary based on financial risk, typically 1–10% of the coverage amount

Use this guide to learn all about how wage and welfare bonds work in New Jersey then apply for your free quote. 

What Are New Jersey Union Wage and Welfare Bonds? 

New Jersey wage and welfare bonds, also known as wage bonds and fringe benefit bonds, are required for employers when negotiating collective bargaining agreements (CBAs) with certain unions. 

This type of surety bond guarantees a union-member employer will honor financial obligations and union contracts, including: 

  • Payment of union dues
  • Contributions to funds
  • Delivery of benefits packages 

Each particular bond form has unique terms for the union requiring it.

How Much Do Union Wage Bonds Cost in New Jersey?

Employers with a strong financial standing often pay a premium price of 1-5% of the total New Jersey wage and welfare bond amount. However, these bonds require underwriting review and may cost anywhere from 0.5% to 10% depending on various risk factors.  

Request a free quote today to get your exact rate.

Bond Type
$1,000-$100,000Local 103 Electrical Union Wage Bond
$1,000-$100,000Payment of Employer Contributions Local 9 Bond
$1,000-$100,000IBEW 164 Wage and Welfare Bond
$1,000-$100,000IBEW Local 102 Wage and Welfare Bond
$20,000IBEW Local Union 351 Wage & Welfare Bond3 or fewer employees
$35,000IBEW Local Union 351 Wage & Welfare Bond4-5 employees
$35,000IBEW Local Union 351 Wage & Welfare Bond4-5 employees
$85,000IBEW Local Union 351 Wage & Welfare Bond6-12 employees
$175,000IBEW Local Union 351 Wage & Welfare Bond13-25 employees
$285,000IBEW Local Union 351 Wage & Welfare Bond26-40 employees
$355,000IBEW Local Union 351 Wage & Welfare Bond41-50 employees
$1,000-$100,000IBEW Local Union No. 102 Wage and Benefit Bond
$1,000-$100,000International Association of Heat and Frost Insulators and Allied Workers Local 32 Wage and Welfare Bond
$1,000-$100,000International Union of Painters and Allied Trades District Council 711 Wage Bond
$1,000-$100,000Local 400 IBEW Wage, Welfare & Fringe Benefit Bond
$1,000-$100,000Pipefitters Local Union No. 274 Employee Wage and Benefit Bond
$1,000-$100,000Refrigeration & Air Conditioning Service Division Employee Benefit Funds Bond
$100,000United Union of Roofers, Waterproofers and Allied Workers, Local 4 Wage Payment Bond
$25,000Local 825 Fringe Benefit Funds Wage Bond

SuretyBonds.com offers the lowest rates available from our nationwide network of surety providers with no added fees.

How Does a New Jersey Union Wage and Welfare Bond Work? 

A New Jersey wage and welfare bond binds three parties in a legal contract: 

  1. Principal: The company employing union members
  2. Obligee: The union requiring the bond to protect employee interests 
  3. 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 dues, wages, and fringe benefits up to the full coverage amount.

How Do I Get a Wage Bond in New Jersey? 

You may need a surety bond before you can hire employees who are members of certain unions. If that’s the case for you, SuretyBonds.com provides the fastest and easiest way to get a wage and welfare bond:

  1. Application: Submit an online quote request.
  2. Quote: Receive your free quote within one business day.
  3. Signatures: Sign your indemnity agreement and bond form.
  4. Delivery: Receive your official bond form via email or FedEx.

File the bond documentation with the obligee as instructed. If the union requires the original bond form with wet signatures, we offer an overnight shipping option. Otherwise, we’ll email your official bond as soon as it’s processed.

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 Union Wage and Welfare Bond

Union wage and welfare bonds in New Jersey typically last for a one-year term. Each bond has unique terms, but most can be renewed without the need to issue a new bond form. 

When you choose SuretyBonds.com, we’ll contact you during the renewal period with an invoice and instructions on how to keep your bond policy active for another term. 

Call 1 (800) 308-4358 to talk with a Surety Expert