IL Plasterers Local 362 wage bonds.
4% of the bond amount.

A plastering or cement-finishing contractor who signs on with Journeymen Plasterers and Cement Masons Local No. 362 (part of OPCMIA Local 11's Area 362, covering Lake County) agrees to post a wage & welfare bond securing wages and trust-fund contributions owed to the local's members. The local sets the amount; premiums cost 4% of the bond amount, $100 minimum, after a quick soft credit check that never affects your score.

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Required by Local No. 362's collective bargaining agreement — a contractual condition of signatory status, not a state statute

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Secures wages and welfare/pension trust contributions owed to the local's plasterers and cement masons

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4% of the bond amount, $100 minimum — your exact price appears at the application

4% rate$100 minimumSoft pull onlynever a hard inquiryFastinstant underwriting for most

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How it works

Apply to filed in one sitting.

Union wage & welfare bonds are simple to issue once you know the amount the local requires. Enter it, consent to a soft pull, and file with the union. Here is the whole thing:

TODAY · ONLINE

Apply online

Your business details, the bond amount from your Local 362 signatory agreement, and the effective date — plus a one-time consent to a soft credit pull.

USUALLY MINUTES

Approved

Most union wage bonds this size clear quickly; the soft pull informs approval and never affects your score. Larger amounts may get a brief review.

SAME DAY

File with the local

Your executed bond and power of attorney arrive by email, ready to file with Local No. 362 or its trust office. Wet-ink original mailed on request.

About this bond

What it is and who needs it.

What the bond actually guarantees

A union wage & welfare bond is a contractual guarantee, not a licensing bond. When a plastering or cement-finishing contractor signs the collective bargaining agreement with Journeymen Plasterers and Cement Masons Local No. 362, signatory status can be conditioned on posting a bond that stands behind the wages and welfare/pension trust contributions the contractor owes for the members it employs.

It's a three-party arrangement: you (the principal), the surety carrier, and Local No. 362 or its trust funds (the obligee), with the local's plasterers and cement masons as the protected parties. If a signatory contractor falls behind on wages or trust contributions, the local or the trust can make a claim against the bond up to its face amount.

It is not insurance for you — if the surety pays a claim, you repay the surety. There is no Illinois statute behind this requirement; it comes directly from the collective bargaining agreement you sign with the local, and the local sets the amount.

Local No. 362 collective bargaining agreementThis bond is required by Journeymen Plasterers and Cement Masons Local No. 362 as a condition of signatory status under its collective bargaining agreement with plastering and cement-finishing employers — a private contractual requirement, not an Illinois statute. Confirm the exact bond amount your agreement calls for with the local before applying; we issue whichever amount you enter.

You need this bond if you're

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Signing on as a Local No. 362 signatory contractor for the first time

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Renewing your signatory status with an expiring or non-renewing bond

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A general contractor bringing plastering scope in-house under the Local 362 agreement

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Reinstating after a lapsed bond the local flagged during a compliance check

One application, priced instantly.

These are the actual underwriting fields, including a one-time consent to a soft credit pull. The pull never affects your score, and your price — 4% of the bond amount, $100 minimum — is set at application.

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FAQ

Common questions.

How much is the Local No. 362 wage & welfare bond?Premiums cost 4% of the bond amount, with a $100 minimum. The amount itself comes from your signatory agreement with Local No. 362 — there is no state-set figure. Enter the amount your agreement calls for and your exact price appears at the application.

What amount should I enter?The bond amount your Local No. 362 signatory agreement specifies. If you're not sure, check your collective bargaining agreement or ask the local before applying — we issue whichever amount you confirm.

What does the bond guarantee?It guarantees that you pay the wages and welfare/pension trust contributions your signatory agreement obligates you to pay the plasterers and cement masons you employ. If you fall short, the local or the trust can claim against the bond, and you repay the surety for any amount it pays out.

Do I pay the full bond amount?No. The bond amount is the surety's maximum liability if a claim is made against you — not a deposit, and nobody holds your money. You pay the premium: 4% of that amount, $100 minimum.

Where do I file it?With Local No. 362 or its trust fund office, as your signatory agreement directs. We deliver the executed bond by email, ready to file the same day in most cases.

Related bonds

Other Illinois bonds.

Signatory bond, priced and filed today.

4% of the bond amount, $100 minimum, soft pull only. Enter the amount your agreement requires and file with the local the same day.

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Your premiumfrom $100

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