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New Jersey bonds

New Jersey — IBEW Local No. 102 Wage And Welfare Bond

Prepare the Local 102 electrical employer wage/welfare request with the legal company name and fund demand. Purchase Now begins this New Jersey application.

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

What this bond does

The required instrument identifies the employer's secured wages and welfare remittances under the particular Local 102 request.

Who needs it
The employing business responsible for those payments, rather than an individual union member applying in a personal capacity.
Who it protects
Use the full union, fund or trustee designations required by the form. A job contact or worksite name does not identify every legal party.

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.

Bring the agreement and demand identifying the company that owes the wages and contributions. Keep worksite and reporting references available without substituting a foreman's name or another affiliated company for the required principal.

Employer wage/welfare security differs from electrical installation performance, a construction project payment bond, employee insurance and ERISA fidelity protection for dishonest handling of plan assets.

Sources

Have these ready

  1. Legal employer and Local 102 agreement.
  2. Current wage/welfare security demand.
  3. Payroll, employer account and fund reporting references.
  4. Required recipients, form, amount and dates.
  5. Post-issuance execution and submission instructions.

Questions about this bond

Should the site contact apply personally?

Identify the employing business owing the secured payments. A person helping prepare the application is not automatically the required employer principal.

Does applying clear the payroll or welfare account?

The employer's payments and reports remain due under its agreement. An application does not discharge those remittances.

Is an amount or term supplied for Local 102?

Neither is stated. Use the actual employer demand rather than another New Jersey electrical local's security entries.

How do I continue online?

Purchase Now opens Propeller in a new tab. Provide the employer and complete request details. After issuance, check the bond and complete required execution and delivery. Applying does not establish recipient acceptance.

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