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Illinois bonds

Illinois — IBEW Local No. 176 Wage And Welfare Bond

Use the Local 176 electrical employer wage/welfare demand to prepare your application. Keep the Illinois agreement and legal fund wording ready for Purchase Now.

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

What this bond does

The required instrument identifies the employer wage and welfare payment undertaking, rather than guaranteeing an electrical installation.

Who needs it
The employing business responsible for those payments under the applicable Local 176 request.
Who it protects
Use the full required wage, fund or trustee beneficiaries. Employee coverage documents do not establish the complete legal recipient schedule.

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 the fund demand separate from employee coverage documents

Bring the employer contribution/reporting references and payroll instructions with the agreement. A worker's insurance record may describe benefits but does not define the legal parties or payments in the security instrument.

Check the Local 176 form directly when comparing existing project construction payment security. Employer wage/welfare duties and a customer's project payment obligation are not interchangeable by name.

Sources

Have these ready

  1. Legal employer and Local 176 agreement.
  2. Current wage/welfare security request.
  3. Payroll and employer fund reporting references.
  4. Complete recipients, required form, sum and dates.
  5. Post-issuance execution and recipient delivery instructions.

Questions about this bond

Does employee insurance satisfy this request?

Employee insurance and employer wage/fund-payment security serve different purposes. Use the actual Local 176 demand and required instrument.

Will an employee benefit record identify every fund party?

Keep the complete legal beneficiary wording from the bond demand. Individual coverage documents do not necessarily identify all required funds or trustees.

Does the bond replace plan fidelity protection?

ERISA fidelity concerns dishonest handling of plan assets, not the employer's wage/welfare remittance undertaking. Evaluate that separate protection independently.

How do I start?

Purchase Now takes you to Propeller in a new tab. Enter the employer and complete request details. Check any issued document and complete required execution and submission. Applying is not recipient acceptance.

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