SMW Local 20 wage & fringe bonds.
From $100.
Sheet Metal Workers International Association Local 20 requires signatory contractors to post a wage and fringe benefits bond guaranteeing union-scale wages and benefit-fund contributions. It is a private union requirement, not an Indiana statute; your agreement sets the amount. Premiums cost 4% of the bond amount, $100 minimum.
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How much does an SMW Local 20 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.
No long underwriting queue for the standard wage and fringe bond — 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 20 agreement requires, and the effective date — plus a one-time consent to a soft credit pull.
Approved
Most wage and fringe 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.
File with the local
Your executed bond and power of attorney arrive by email, ready to file with SMW Local 20 so your signatory status stays current. Wet-ink originals mailed on request.
What it is and who needs it.
What the wage & fringe bond actually guarantees
Sheet Metal Workers International Association Local 20 is a SMART-affiliated local, headquartered in Evansville, representing sheet metal, HVAC, and related trades workers across its Indiana jurisdiction. Contractors who sign Local 20's collective bargaining agreement agree to pay union-scale wages and to remit contributions to the local's fringe benefit funds — health & welfare, pension, and apprenticeship and training.
The wage and fringe benefits bond backs that promise. If a signatory contractor falls behind on wages or fund contributions, Local 20 (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 20 sets for a given signatory contractor, often tied to expected payroll and benefit exposure. 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.
You need this bond if you are
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 the local. Your executed bond and power of attorney arrive by email, ready to file with SMW Local 20 so your signatory status stays current. Wet-ink originals 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, then a quick review.
Submit the application with the bond amount your Local 20 agreement requires. Most clear quickly; larger amounts may get a brief underwriter review, usually within 48 hours.
Start the application →Common questions.
Other Indiana bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Local 20 signatory status, one bond away.
Premiums from $100, priced at 4% of the bond amount. Enter your required figure and file with the local.