IUOE 103 wage & welfare bonds.
4% of the bond amount.

The International Union of Operating Engineers Local 103 — headquartered in Indianapolis and covering 33 Indiana counties — requires signatory contractors employing heavy equipment operators to post a wage and welfare bond guaranteeing union-scale wages and contributions to the local's benefit funds. This is a private requirement of Local 103's collective bargaining agreement, not an Indiana statute. Premiums cost 4% of the bond amount, $100 minimum. Enter the amount your signatory agreement requires and your exact price appears at the application.

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Required by IUOE Local 103 as a condition of signing its collective bargaining agreement

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Guarantees union-scale wages and fringe benefit fund contributions — health & welfare, pension, and apprenticeship training

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From $100, priced at 4% of the bond amount — enter your required figure and see your price at application

4% rate$100 minimum, by bond amountSoft pull onlynever a hard inquiryFastinstant underwriting for most

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How it works

Apply to filed in one sitting.

No long underwriting queue for the standard wage and welfare bond — enter your amount, consent to a soft pull, and file with the local. Here is the whole thing:

TODAY · ONLINE

Apply online

Your company details, the bond amount your Local 103 agreement requires, and the effective date — plus a one-time consent to a soft credit pull.

FAST REVIEW

Approved

Most wage and welfare bonds clear quickly. The application includes a credit consent, but it authorizes a soft pull only — a soft inquiry that 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 IUOE Local 103 so your signatory status stays current. Wet-ink originals mailed on request.

About this bond

What it is and who needs it.

What the wage & welfare bond actually guarantees

IUOE Local 103, headquartered on East 21st Street in Indianapolis, represents heavy equipment operators across 33 Indiana counties. Contractors who sign Local 103's collective bargaining agreement agree to pay union-scale wages to operating engineers on the job and to remit contributions to the local's fringe benefit funds — health & welfare, pension, and apprenticeship and training.

The wage and welfare bond backs that promise. If a signatory contractor falls behind on wages or fund contributions, Local 103 (as obligee) can make a claim against the bond up to its face amount to recover what is owed to members and the funds — and if the surety pays the claim, the contractor repays the surety. It functions like a mini-Miller Act bond, but the requirement comes from the union contract, not a state or federal statute.

There is no single statutory figure — the amount is whatever Local 103 sets for a given signatory contractor, typically scaled to expected payroll and benefit exposure on operating-engineer work. Enter the amount your agreement calls for; premiums are priced at 4% of the bond amount, $100 minimum, after a one-time soft credit consent that never affects your score.

IUOE Local 103 collective bargaining agreement — not an Indiana statuteThis bond is not required by Indiana law. It is a private condition of the collective bargaining agreement between the International Union of Operating Engineers Local 103 (Indianapolis, covering 33 Indiana counties) and signatory contractors employing operating engineers, guaranteeing payment of union-scale wages and fringe benefit fund contributions. The required bond amount is set by Local 103 for each signatory contractor rather than fixed by statute. Confirm your required figure directly with Local 103 or the signatory agreement itself.

You need this bond if you are

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A contractor employing operating engineers signing IUOE Local 103's collective bargaining agreement for the first time

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Renewing your signatory status with IUOE Local 103

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Expanding operations into one of Local 103's 33 Indiana counties from outside the area

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A general contractor whose operating-engineer subcontractor needs proof of a current wage & welfare bond

One application, then a quick review.

Submit the application with the bond amount your Local 103 agreement requires. Most clear quickly; larger amounts may get a brief underwriter review, usually within 48 hours.

Start the application →

FAQ

Common questions.

How much is the IUOE Local 103 wage & welfare bond?Premiums cost 4% of the bond amount your signatory agreement requires, with a $100 minimum. There is no single statutory figure — Local 103 sets the amount per contractor. Enter that figure and your exact price appears at the application.

Why does Local 103 require this bond?It backs the promise made in the collective bargaining agreement — that signatory contractors pay union-scale wages to operating engineers and keep current on health & welfare, pension, and training fund contributions. If a contractor falls short, the local can claim against the bond to recover what is owed.

Is there a credit check?The application includes a credit consent, but it authorizes a soft pull only — a soft inquiry that never affects your score. No hard inquiry ever runs on this bond. Larger bond amounts may get a brief underwriter review.

Is this required by Indiana law?No. It is a private requirement of IUOE Local 103's collective bargaining agreement, not a state statute — the bond amount and the requirement itself come from your signatory agreement with the local, not from Indiana Code.

Where do I file it?Submit the executed bond directly to IUOE Local 103 as part of your signatory paperwork. We deliver it by email the same day it issues, and can mail a wet-ink original if the local requires one.

Related bonds

Other Indiana bonds.

Local 103 signatory status, one bond away.

Premiums from $100, priced at 4% of the bond amount. Enter your required figure and file with the local.

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