Illinois Cement Masons Local 502 bonds.
$1,000 flat.
A cement mason or plastering contractor that signs a collective bargaining agreement with Cement Masons' Union Local No. 502 posts a $25,000 bond guaranteeing that wages and fringe benefit contributions actually reach the members and funds they're owed to. Ours is $1,000 flat. The application includes a credit consent, but it authorizes a soft pull only.
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How much does an Illinois Cement Masons Local 502 bond cost?
$1,000 at the $25,000 amount, the same for every applicant.
Three steps. One sitting.
Union wage and welfare bonds are about the simplest thing in surety. Here's the entire process:
Apply online
Business details, an effective date, and a soft-pull credit consent. That's the application — no financials, no follow-up scavenger hunt.
Pay & e-sign
Wage and welfare bonds like this are among the thousands of bond types that issue right after purchase. Issued when you pay. One soft credit pull, never a hard inquiry, and it never affects your score.
Send it to the funds office
Your executed bond and power of attorney arrive by email, ready to send to Cement Masons Local 502's fringe benefit funds office. Wet-ink original mailed on request.
What it is and who needs it.
What the bond actually guarantees
When a cement mason or plastering contractor signs a collective bargaining agreement with Cement Masons' Union Local No. 502 of Bellwood, Illinois, it takes on negotiated wage rates and contributions to the local's health, pension, and apprenticeship funds. This bond is the security the funds office requires before it will accept a signatory contractor's periodic remittance reports.
It's a three-party arrangement: you (the principal), the surety carrier, and Local 502's fringe benefit funds (the obligee), with covered members as the protected party. If a contractor becomes delinquent on wages or contributions, the funds office can make a claim against the bond, up to $25,000, to recover the shortfall; the surety then seeks reimbursement from the contractor.
It is not insurance for you — if the surety pays a claim, you repay the surety. This is a private, contractual obligation running from your signatory agreement, not an Illinois statute or state license requirement, and the bond amount is set by Local 502's funds office under its own regulations rather than a published fee schedule.
You need this bond if you're
Claims, renewal, filing, and what sets the price.
If a claim is made
A claim comes from the party the bond protects, the obligee named on the form, when the duty the bond guarantees is not met.
The surety investigates and pays a valid claim, up to the $25,000 bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
The premium covers a one-year term from the effective date you choose; a longer term is the same price per year, chosen at checkout.
Renew before the expiry date to keep the bond in force: the license, permit or contract it backs expects continuous coverage.
How to file it
Pay & e-sign. Wage and welfare bonds like this are among the thousands of bond types that issue right after purchase. Issued when you pay. One soft credit pull, never a hard inquiry, and it never affects your score.
What sets the price
The premium is fixed at $1,000 at the $25,000 amount for every applicant: the carrier’s rate book prices this bond by the form, not by your credit or your business profile.
One soft credit pull, never a hard inquiry, and it never affects your score.
Where a check runs, it decides approval; the rate is the same for everyone approved.
One application, issued instantly.
These are the actual issuing fields. The credit consent authorizes a soft pull only — a soft inquiry that never affects your score.
Start the application →Common questions.
Other Illinois bonds.
Been told you need a different amount?
Price and requirements checked on the carrier’s application, . Page updated .
Get your Local 502 bond filed today.
$1,000 flat, soft pull only, bond often issued in the same sitting. Free until issued.