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Illinois bonds

Illinois — IBEW Local No. 146 Wage & Fringe Benefit Bond

Keep the dates in the IBEW Local 146 employer wage/fringe demand with the Illinois agreement when preparing the Purchase Now application.

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Recorded state
Illinois
Bond type
Wage & Fringe Benefits Bond
Category
Employment, wages & benefits

What this bond does

The required instrument defines the employer wages and benefit contributions secured. A dated payroll or contribution balance is not by itself a determination of bond coverage.

Who needs it
The employing business responsible for the labor payments in the actual Local 146 request.
Who it protects
Use the full required wage, union, fund or trustee beneficiaries. This payment security does not provide employee insurance or guarantee construction completion.

Your bond option

This is the option on record for this bond.

The bond amount describes the limit of the bond obligation, not the price. A listed amount does not establish what the requesting party requires. The premium is what you pay and must be confirmed for the actual option. An E&O limit, where listed, is separate errors and omissions insurance.

Keep existing balances separate from the requested bond period

Bring the dated wage/fund demand and relevant reporting records with the agreement. Do not assume that an unpaid balance from an earlier period is included simply because you are applying now.

Use the required effective period and instrument provisions. This page does not establish retroactive coverage, a zero-arrears eligibility rule or a fixed issuance date; arranging security also does not settle the employer's underlying payments.

Sources

Have these ready

  1. Legal employer and Local 146 agreement.
  2. Current wage/fringe demand with its dates.
  3. Relevant payroll/contribution records and any balance information requested.
  4. Complete beneficiaries, form, requested sum and effective period.
  5. Required execution and recipient submission after issuance.

Questions about this bond

Will a new application cover an older unpaid balance?

No retroactive promise is established here. Use the actual required period and instrument provisions with the dated demand.

Must every contribution balance be zero to apply?

No such eligibility rule is supplied. Provide the information the actual request and provider application require.

Is project payment or ERISA fidelity security the same?

A construction payment undertaking and protection against dishonest handling of plan assets differ from employer wage/fringe obligations. They are not automatic substitutes.

How do I begin online?

Purchase Now takes you to Propeller in a new tab. Enter the employer and full dated request. Review any issued document and complete required execution and delivery. The application does not establish recipient acceptance.

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