UA Local 502 wage & welfare bonds.
From $100.
A contractor that signs a collective bargaining agreement with UA Local 502 (Plumbers and Pipefitters) can be asked to post a wage and welfare bond securing the contributions it owes the Local's benefit trust funds. Your agreement or the fund trustees set the amount. Premiums cost 4% of the bond amount, $100 minimum.
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How much does a UA Local 502 wage & welfare 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 welfare 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 agreement or the fund trustees required, and the effective date — plus a one-time consent to a soft credit pull.
Issued
Pricing is 4% of the bond amount, $100 minimum. Most applications approve instantly; larger amounts may get a brief underwriter review, and any check that runs is a soft pull that will not touch your score.
File with UA Local 502
Submit the executed bond to the Local or its benefit fund office to satisfy your signatory obligation. Wet-ink originals mailed whenever the fund insists.
What it is and who needs it.
What the wage and welfare bond actually does
A union wage and welfare bond (also called a wage and fringe bond or collective bargaining bond) is security a union local requires of a signatory employer — one that has agreed by collective bargaining agreement to pay specified wages and to make contributions to the union's benefit funds. UA Local 502, the Plumbers and Pipefitters local based in Louisville, uses a bond in this named form to protect its members' pay and benefits when an employer falls short.
The obligee is the Local and its associated benefit funds — for UA Local 502, that includes the pension and health & welfare trust funds that administer members' retirement, medical, training, and related benefits. The principal is the signatory employer. If the employer fails to remit agreed wages or fund contributions and a fund or member is harmed, a claim can be made against the bond up to its face amount — and if the surety pays, the employer repays the surety. It is a fringe-benefit backstop, not insurance for the employer.
There is no single statewide statutory amount for this bond — Local 502 and its fund trustees set the figure that fits the agreement, generally scaled to the employer's expected payroll and contribution volume. This bond is separate from Kentucky's general construction wage-performance bond at KRS 337.200 (filed with the Education and Labor Cabinet by nearly every construction employer under five years in the state); this one runs specifically to UA Local 502 and its funds under the collective bargaining agreement. Enter the amount your agreement or the trustees required; we price it from a $100 minimum after a quick soft credit check 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 UA Local 502. Submit the executed bond to the Local or its benefit fund office to satisfy your signatory obligation. Wet-ink originals mailed whenever the fund insists.
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.
These are the actual underwriting fields, including your bond amount and a one-time consent to a soft credit pull that never affects your score. Pricing is 4% of the bond amount, $100 minimum.
Start the application →Common questions.
Other Kentucky bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Signatory agreement, one filing away.
Premiums from $100, priced at 4% of the bond amount. Enter the figure your agreement set and file with Local 502 the same day.