IBEW Local 873 small-shop wage & fringe bonds.
4% of the bond amount.
IBEW Local Union No. 873 sizes its wage and fringe benefits bond for a 1–15 employee signatory contractor — commonly a $25,000 bond — separate from the standard-tier bond larger shops file. It's a contractual requirement under the collective bargaining agreement, not a state statute. Premiums cost 4% of the bond amount, $100 minimum, after a quick soft credit check that never affects your score.
Trusted by industry leaders
Apply to filed in one sitting.
Wage and fringe benefit bonds are straightforward to issue. Enter your amount, consent to a soft pull, and file with the local. Here is the whole thing:
Apply online
Your company details, the bond amount your Local 873 agreement calls for at your employee count, and the effective date — plus a one-time consent to a soft credit pull.
Issued
Most wage and fringe bonds at this size clear right after purchase — the soft pull informs pricing and never affects your score.
File with Local 873
Your executed bond and power of attorney arrive by email, ready to file with the local's business manager or benefit fund administrator. Wet-ink original mailed on request.
What it is and who needs it.
What this smaller-tier bond actually guarantees
Some union agreements scale the wage and fringe benefits bond to the size of the signatory contractor. Local 873 runs a separate tier for a shop with 1–15 employees, commonly bonded at $25,000 — the same guarantee as the standard-tier bond, just sized to a smaller payroll exposure.
It's a three-party arrangement: the contractor (the principal), the surety carrier, and IBEW Local Union No. 873 and its affiliated benefit funds (the obligee), with covered employees as the protected parties. The bond guarantees payment of covered wages and fringe benefit fund contributions — health & welfare, pension, apprenticeship & training — for every hour a covered electrician works at your shop.
It is not insurance for the contractor — if the surety pays a claim, the contractor repays the surety. This is a private contractual requirement set by the collective bargaining agreement, not an Indiana statute; confirm with Local 873 whether your headcount still qualifies for this tier before you renew.
You need this bond if you're
One application, issued instantly.
These are the actual issuing fields, including a one-time consent to a soft credit pull. The pull never affects your score, and your price — from a $100 minimum — is set at application.
Start the application →Common questions.
Other Indiana bonds.
Get your small shop signatory-ready.
4% of the bond amount, $100 minimum, soft pull only. Enter your amount and file the same day.