Illinois IBEW Local 134 fringe benefit bonds.
$5,600 flat.
A signatory electrical contractor with 6 to 10 employees under a collective bargaining agreement with IBEW Local No. 134 of Chicago posts a $140,000 bond guaranteeing that fringe benefit contributions reach the union's pension, health, and welfare funds. Ours is $5,600 flat. The application includes a credit consent, but it authorizes a soft pull only.
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How much does an Illinois IBEW Local 134 fringe benefit bond cost?
$5,600 at the $140,000 amount, the same for every applicant.
Three steps. One sitting.
Union fringe benefit 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
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.
Send it to the funds office
Your executed bond and power of attorney arrive by email, ready to send to IBEW Local 134's benefit funds office in Chicago. Wet-ink original mailed on request.
What it is and who needs it.
What the bond actually guarantees
When an electrical contractor signs a collective bargaining agreement with IBEW Local No. 134, Chicago's local of the International Brotherhood of Electrical Workers, it takes on negotiated wage rates and contributions to the local's pension, health, and welfare funds. Local 134 sizes the required fringe benefits bond by employee-count bracket — $140,000 for a signatory contractor with 6 to 10 employees — and requires it before the funds office will accept periodic contribution reports.
It's a three-party arrangement: you (the principal), the surety carrier, and IBEW Local 134's benefit funds (the obligee), with covered members as the protected party. If a contractor becomes delinquent on contributions, the funds office can make a claim against the bond, up to $140,000, 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. If your headcount grows past 10 employees, confirm with Local 134's funds office whether a larger bond bracket now applies.
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 $140,000 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. 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.
What sets the price
The premium is fixed at $5,600 at the $140,000 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 134 fringe benefits bond filed today.
$5,600 flat, soft pull only, bond often issued in the same sitting. Free until issued.