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Maryland bonds

Maryland — Electrical Industry Funds Fringe Benefits Bond

Have an Electrical Industry Funds fringe-benefit security request in Maryland? Prepare the employer's contribution instructions and full fund names, then continue through Purchase Now.

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

What this bond does

The offering addresses employer fringe-benefit payment security for the funds named in the required instrument. It does not identify a particular local number or establish direct wage coverage.

Who needs it
The employer asked to secure the electrical-industry fund contributions described in its agreement or written demand.
Who it protects
Follow the form's precise fund and trustee designations. Electrical Industry Funds is not a complete beneficiary schedule, and a construction owner should not be substituted for the required fund recipients.

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.

Use the fund office's full beneficiary wording

Keep the remittance instructions, employer account reference and security demand together. They identify which funds and contributions the application needs to address without guessing an IBEW local from the Maryland location.

Contribution security differs from ERISA fidelity protection against dishonest handling of plan assets. It also does not provide employee insurance benefits or replace a project-specific construction payment bond.

Sources

Have these ready

  1. Employer legal identity and applicable contribution agreement.
  2. The fund office's security request and required form.
  3. Contribution reporting instructions and employer account reference.
  4. Complete fund/trustee names, requested amount and dates.
  5. Execution and delivery instructions for after issuance.

Questions about this bond

Which local should be named?

Use the actual security request. The title does not identify a local, so do not select one from the location or a similarly named electrical bond.

Does the offering also cover payroll wages?

It names fringe benefits. The form determines any additional payment obligations; direct wages should not be assumed to be covered.

How do I establish the amount and period?

Use the employer-specific fund demand. Neither is stated by this option, and the project contract value is not a contribution-security calculation.

Where do I apply?

Purchase Now opens Propeller in a new tab. Submit the employer and fund request information. Check the issued instrument and complete required execution and delivery; beginning online does not mean the fund has accepted it.

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