Illinois IBEW Local 117 wage bonds.
$2,000 flat.
An electrical contractor that signs on as a signatory employer with IBEW Local No. 117 agrees to remit wages and fringe benefit contributions to the local's funds on every covered hour worked. When the local requires a bond to secure that obligation, ours is $2,000 flat for the $50,000 bond.
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How much does an Illinois IBEW Local 117 wage bond cost?
$2,000 at the $50,000 amount, the same for every applicant.
Three steps. One sitting.
A wage & fringe benefit bond for a single local is about the simplest thing in surety. Here's the entire process:
Apply online
Business details, the effective date, and a one-time consent to a soft credit pull. No financials, no follow-up scavenger hunt.
Pay & e-sign
Wage & fringe benefit 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.
File with Local 117
Your executed bond and power of attorney arrive by email, ready to file with IBEW Local No. 117's business office. Wet-ink original mailed on request.
What it is and who needs it.
What the bond actually guarantees
IBEW Local No. 117 is the electrical workers' local covering McHenry County and the northern townships of Kane County, Illinois. A signatory electrical employer agrees, under its collective bargaining agreement with the local (and the associated NECA chapter agreement), to remit wages and fringe benefit contributions — health & welfare, pension, and related funds — on every hour a covered employee works. When the local requires a bond to secure that obligation, this is the filing.
It's a three-party arrangement: you (the principal), the surety carrier, and IBEW Local No. 117 or its trust funds (the obligee), with the covered electricians' wage and benefit accounts as the protected interest. If a signatory employer falls behind on required payments, the local can make a claim against the bond to recover what is owed.
It is not insurance for you — if the surety pays a claim, you repay the surety. This is a private, contractual requirement set by the local and the inside agreement it administers, not an Illinois statute or ordinance, so confirm the exact figure and filing address with the local's business office before applying.
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 $50,000 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
File with Local 117. Your executed bond and power of attorney arrive by email, ready to file with IBEW Local No. 117's business office. Wet-ink original mailed on request.
What sets the price
The premium is fixed at $2,000 at the $50,000 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, including a one-time consent to a soft credit pull 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 .
File your Local 117 wage & fringe benefits bond today.
$2,000 flat, soft pull only, bond often issued in the same sitting. Free until issued.