Maryland ironworkers fringe benefit bonds.
From $125.
Under Section 18 of the Local 5 working agreement, the trustees of the Iron Workers Local Union No. 5 trust funds can require a delinquent signatory contractor to post a bond guaranteeing future fringe-benefit contributions. Local 5 covers Maryland, D.C., Virginia, and West Virginia. Premiums cost 4% of the bond amount plus a $25 fee, $125 minimum.
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How much does a Maryland ironworkers fringe benefit bond cost?
4% of the bond amount plus a $25 fee, from $125. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
Enter the amount that matches your crew size, consent to a soft pull, and file with the Local 5 trust funds office. Here is the whole thing:
Apply online
Your company details, the number of ironworkers you employ, the corresponding bond amount, and the effective date — plus a one-time consent to a soft credit pull.
Approved
The application includes a one-time consent to a soft credit pull that never affects your score, and most applications approve instantly — pricing is 4% of the bond amount plus a $25 fee, $125 minimum. Larger amounts may get a brief review.
File with the trust funds office
Your executed bond and power of attorney arrive by email, ready to file with the Iron Workers Local Union No. 5 trust funds office to satisfy the Trustees’ requirement. Wet-ink originals mailed on request.
What it is and who needs it.
What the ironworkers fringe-benefit bond actually guarantees
Contractors signatory to the Local Union No. 5 working agreement (International Association of Bridge, Structural, Ornamental and Reinforcing Iron Workers) make monthly contributions to the Local’s health and welfare, pension, apprenticeship and training, and related trust funds on behalf of every ironworker they employ. Section 18 of that agreement, titled "Bonds, Security Deposits, Letters of Credit," lets the trustees of those funds require security when a contractor’s payment history warrants it.
Specifically, if an employer is delinquent ten or more working days in making the required contributions twice in any twelve-month period, the trustees may, at their discretion, require the employer to provide a bond, cash security deposit, or letter of credit. The trustees may also require any employer who becomes signatory to the agreement on or after June 29, 1989 to post one as a condition of signing, regardless of payment history.
The bond guarantees payment of the contribution amounts due, plus liquidated damages, interest, attorneys’ fees, audit costs, court costs, and any other collection expenses the trust funds incur. The agreement sets the amount by the size of the employer’s crew: $10,000 for 1 to 5 workers, $20,000 for 6 to 10, $30,000 for 11 to 20, and $50,000 for more than 20. An employer who cannot secure a bond, deposit, or letter of credit must instead remit contributions weekly, collected by the jobsite steward — and the union may withhold manpower from an employer that is unbonded or delinquent. We price the bond from a $125 minimum, and the application includes a one-time consent to a soft credit pull 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 trust funds office. Your executed bond and power of attorney arrive by email, ready to file with the Iron Workers Local Union No. 5 trust funds office to satisfy the Trustees’ requirement. Wet-ink originals mailed on request.
What sets the price
The premium is 4% of the bond amount plus a $25 fee, $125 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 that matches your crew size. Larger amounts may get a brief underwriter review, usually within 48 hours.
Start the application →Common questions.
Other Maryland bonds.
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Fringe-benefit bond, filed today.
Premiums cost 4% of the bond amount plus a $25 fee, $125 minimum. Match your crew size and file with the trust funds office the same day.