MD IBEW Local 26 fringe benefit bonds.
4% of the bond amount.
An electrical contractor signatory to the IBEW Local Union No. 26 agreement posts this bond so the payroll deductions and fringe-benefit fund contributions it reports each period actually reach the Local 26 joint trust funds. It is a collective bargaining obligation, not a Maryland licensing requirement. Premiums cost 4% of the bond amount, $100 minimum. The application includes a credit consent, but it authorizes a soft credit pull only.
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Apply to filed in one sitting.
The IBEW Local 26 fringe benefit bond has no long underwriting queue for the standard amount — enter your figure, consent to a soft pull, and send the executed bond to the fund office. Here is the whole thing:
Apply online
Your business details, the bond amount the fund office named, the effective date, and a one-time consent to a soft credit pull — that is the entire application.
Priced and issued
The premium is 4% of the bond amount, $100 minimum. Most signatory contractors approve quickly; the soft credit pull informs approval and never affects your score.
File with the Local 26 fund office
Your executed bond and power of attorney arrive by email, ready to send to the Local 26 joint trust funds office that administers the plans and collects the periodic reports. Wet-ink originals mailed on request.
What it is and who needs it.
What the IBEW Local 26 fringe benefit bond actually does
When an electrical contractor signs the IBEW Local Union No. 26 inside agreement, it takes on negotiated payroll deductions and employer contributions to the local's benefit funds — typically pension, health and welfare, and apprenticeship or training funds administered jointly by the union and signatory contractors (a Local 26, IBEW-NECA arrangement). A fringe-benefit payment bond, sometimes called a guaranteed payment bond, is the security the fund office can require a signatory contractor to post so those reports and payments are backstopped.
The bond guarantees that payroll deductions and fund contributions reported each period actually reach the joint trust funds they are owed to. If a signatory contractor becomes delinquent, the fund office or its trustees can make a claim against the bond, up to the bonded sum, to recover the shortfall — the surety then seeks reimbursement from the contractor. It is a three-party arrangement: you (the principal), the surety carrier, and the Local 26 joint trust funds (the obligee); it is not insurance for you.
This is a private, contractual bond, not a Maryland licensing or state-agency requirement — no Maryland department issues it or receives it. The obligation runs from the collective bargaining agreement between the contractor and IBEW Local Union No. 26. The bond form typically leaves the covered sum for the fund office to set, sized to the contractor's payroll and expected contribution exposure rather than a flat statutory number. We price the bond from a $100 minimum at 4% of the amount the fund office sets, and the application includes only a soft credit consent — never a hard inquiry.
You need this bond if you are
Priced at the application.
These are the actual underwriting fields, including the one-time soft credit consent. Submit with the bond amount the fund office named — the premium is 4% of that amount, $100 minimum.
Start the application →Common questions.
Other Maryland bonds.
File your Local 26 fringe benefit bond today.
4% of the bond amount, $100 minimum. Enter the sum the fund office named and send it the same day. Free until issued.