IBEW Local 873 small-shop wage & fringe bonds.
From $100.
IBEW Local Union No. 873 sizes its wage and fringe benefits bond for a 1–15 employee signatory contractor, commonly at $25,000, separate from the standard-tier bond larger shops file. It's a contractual requirement under the agreement, not a state statute. Premiums cost 4% of the bond amount, $100 minimum.
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How much does an IBEW Local 873 small-shop wage & fringe bond cost?
4% of the bond amount, from $100. Enter your amount in the calculator for the exact price.
Three steps. 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
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 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.
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
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 sets the price
The premium is 4% of the bond amount, $100 minimum: the amount the obligee sets moves the price, not 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, 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.
Price and requirements checked on the carrier’s application, . Page updated .
Get your small shop signatory-ready.
4% of the bond amount, $100 minimum, soft pull only. Enter your amount and file the same day.