Oklahoma Local 344 Wage and Welfare Bond Guide
In Oklahoma, you may need to file a surety bond if you employ Plumbers and Pipefitters Local 344 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 Needs It: Employers of Plumbers and Pipefitters Local 344 Union members
- Coverage Amount: $10,000–$60,000
- Premium Rate: Varies based on financial risk, typically 1–10%
Use this guide to learn all about the bonding process, then apply for your free quote.
What Are Oklahoma Plumbers and Pipefitters Local 344 Bonds?
Oklahoma Plumbers and Pipefitters Local 344 wage and welfare 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 Plumbers and Pipefitters Local 344 Wage Bonds Cost in Oklahoma?
Your Plumbers and Pipefitters Local 344 bond amount will vary based on the number of employees covered through the bond:
- 1–4 Employees: $10,000 Bond
- 5–9 Employees: $20,000 Bond
- 10+ Employees: $60,000 Bond
The premium rate for one year of coverage is typically 1–10% of the total coverage amount. For example, qualified employers could pay as low as $600 for $60,000 coverage.
Apply for your free quote today.
SuretyBonds.com offers the lowest rates available from our nationwide network of surety providers with no added fees.
How Does an Oklahoma Plumbers and Pipefitters Local 344 Bond Work?
An Oklahoma wage and welfare bond binds three parties in a legal contract:
- Principal: The company employing Plumbers and Pipefitters Local 344 union members
- Obligee: The Plumbers and Pipefitters Local 344 union 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 dues, wages, and fringe benefits up to the full coverage amount.
How Do I Get a Wage Bond in Oklahoma?
SuretyBonds.com provides the fastest and easiest way to get a wage and welfare bond in Oklahoma. 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 Oklahoma Electrical Union Wage and Welfare Bond
Plumbers and Pipefitters Local 344 wage and welfare bonds in Oklahoma 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.
