Iowa carpenters wage & fringe bonds.
From $100.
A North Central States Regional Council of Carpenters signatory contractor can be required to post a wage and fringe benefit bond, most often after falling behind on wages or fund contributions. The agreement or its trustees, not an Iowa statute, set the amount. Premiums cost 4% of the bond amount, $100 minimum.
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How much does an Iowa carpenters 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.
Enter your amount, consent to a soft credit pull, and file with the Council. Here is the whole thing:
Apply online
Your company details, the bond amount your agreement or the fund trustees specified, and the effective date — plus a one-time credit consent that authorizes a soft pull only.
Approved
The credit consent authorizes a soft pull only — it never affects your score. Most amounts clear quickly; larger bonds may get a brief underwriter look.
File with the Council
Your executed bond and power of attorney arrive by email, ready to file with the North Central States Regional Council of Carpenters Benefit Funds office. Wet-ink originals mailed on request.
What it is and who needs it.
What the wage & fringe benefit bond actually guarantees
The North Central States Regional Council of Carpenters represents union carpenters across Iowa and a group of neighboring states, and administers a set of jointly trusteed funds through the North Central States Regional Council of Carpenters Benefit Funds office — the Pension Fund, Health Fund, Vacation Fund, Training Fund, the Labor Management Cooperation Trust, the United Brotherhood of Carpenters Training Fund, the Contract Administration Fund, and Working Dues.
A contractor that signs the Council’s collective bargaining agreement agrees to pay wages and make timely contributions to those funds. The wage and fringe benefit bond is the surety backstop for that promise: if the contractor becomes delinquent — commonly after missing roughly two months of required contributions — the agreement’s bonding and delinquency provisions can require the bond (or an alternative like a letter of credit, or an escrow arrangement, depending on the agreement) to be posted and kept in place, typically until the contractor has re-established a clean payment record.
This is a private, contractually created requirement — it comes from the collective bargaining agreement between the signatory contractor and the Council, not from an Iowa statute or state licensing rule. There is no single statutory bond amount; the figure is whatever the agreement or the fund trustees specify for your situation. Enter that amount, and we price the bond at 4% with a $100 minimum.
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 Council. Your executed bond and power of attorney arrive by email, ready to file with the North Central States Regional Council of Carpenters Benefit Funds office. 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, priced at application.
These are the actual underwriting fields, including a one-time credit consent that authorizes a soft pull only. It never affects your score, and your price — 4% of the bond amount, $100 minimum — is set at application.
Start the application →Common questions.
Other Iowa bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Stay in good standing with the Council.
Enter your bond amount, consent to a soft pull, and see your exact price — 4% of the bond amount, $100 minimum. Free until issued.