Illinois Operating Engineers Local 520 bonds.
$1,000 flat.
A signatory contractor employing members of the International Union of Operating Engineers Local 520 posts a $25,000 bond so the health and welfare contributions it reports each period actually reach the fund. Ours is $1,000 flat — the price you see is the checkout price. The application includes a credit consent, but it authorizes a soft pull only.
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How much does an Illinois Operating Engineers Local 520 bond cost?
$1,000 at the $25,000 amount, the same for every applicant.
Three steps. One sitting.
Union health 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
Health 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 fund office
Your executed bond and power of attorney arrive by email, ready to send to the Operating Engineers Local 520 Health and Welfare Fund office in Swansea, Illinois. Wet-ink original mailed on request.
What it is and who needs it.
What the bond actually guarantees
When a contractor signs a collective bargaining agreement with the International Union of Operating Engineers Local 520, which represents operating engineers across 16 counties of Southern Illinois, it takes on negotiated contributions to the local's health and welfare, pension, apprenticeship, and annuity funds. This bond is the security the fund office requires before it will accept a signatory contractor's periodic contribution reports.
It's a three-party arrangement: you (the principal), the surety carrier, and the Operating Engineers Local 520 Health and Welfare Fund (the obligee), with covered members as the protected party. If a contractor becomes delinquent on contributions, the fund 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 the fund 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. Health 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 520 bond filed today.
$1,000 flat, soft pull only, bond often issued in the same sitting. Free until issued.