IBEW Local 150 wage & fringe bonds.
$2,000 flat.
An electrical contractor signatory to the IBEW Local 150 collective bargaining agreement, covering the collar counties around Chicago, files a single $50,000 bond guaranteeing both wages and fringe-benefit contributions — ours is $2,000 flat, and the price you see is the checkout price. The application includes a credit consent, but it authorizes a soft credit pull only — a soft inquiry that never affects your score. No hard inquiry ever runs on this bond.
Trusted by industry leaders
Three steps. One sitting.
Union wage and fringe bonds follow a short, standard process. Here's the entire thing:
Apply online
Business details and an effective date. That's the application — no financials, no lengthy underwriting file.
Pay & e-sign
Bonds like this are among the thousands of bond types that issue right after purchase. At most, 1–2 business days.
File with Local 150
Your executed bond and power of attorney arrive by email, ready to send to the Local 150 fringe benefit funds office as proof of coverage. Wet-ink original mailed on request.
What it is and who needs it.
What the bond actually guarantees
IBEW Local 150 — the electrical workers' local covering the counties and municipalities around Chicago outside the city itself — requires signatory contractors to post a single bond backing both wage payments and fringe-benefit contributions (health & welfare, pension, and training-fund payments) under the Local's collective bargaining agreement (CBA). The combined amount is set at $50,000.
It's a three-party arrangement: you (the principal), the surety carrier, and Local 150 or its jointly-administered benefit funds (the obligee), protecting the union electricians whose pay and benefits depend on the CBA being honored. If a signatory contractor falls delinquent, the Local notifies the surety under the bond and can make a claim.
It is not insurance for you — if the surety pays a claim, you repay the surety. The bond must stay in force for as long as you remain a signatory employer, so we track it and notify you 60 and 30 days out to keep your $50,000 filing continuous.
You need this bond if you're
One application, issued instantly.
These are the actual issuing fields — a short credit consent, business details, and an effective date.
Start the application →Common questions.
Other Illinois bonds.
Stay in good standing with Local 150.
$2,000 flat, soft pull only, bond often issued in the same sitting. Free until issued.