This is a private, contractual bond — Michigan has no statute requiring it. The obligation comes from the collective bargaining agreement between a signatory interior-systems contractor and Interior Systems Local 1045 of the Michigan Regional Council of Carpenters, together with the trust agreements governing the Local's benefit funds; the obligee named on the bond is the union or the trustees of those funds, so confirm the exact wording and required amount with the fund office before the bond is issued. The federal backdrop is ERISA § 515, 29 U.S.C. § 1145, which requires an employer obligated to contribute to a multiemployer plan under a collectively bargained agreement to make those contributions in accordance with the agreement, and ERISA § 502(g)(2), 29 U.S.C. § 1132(g)(2), which awards unpaid contributions, interest, liquidated damages and fees in a successful collection action; suits on the agreement itself are brought under LMRA § 301, 29 U.S.C. § 185.

What the wage-and-welfare bond actually guarantees

You need this bond if you are

Wage-and-welfare bonds at this size usually clear quickly. Your e-signed bond will arrive by email, ready to send to the Interior Systems Local 1045 fund office.

2% of the bond amount, $100 minimum: Michigan's Interior Systems Local 1045 wage-and-welfare bond for the Carpenters Council benefit funds. Instant issue.

Michigan Regional Council of Carpenters Interior Systems Local 1045 - Wage & Welfare

Final premium can vary based on underwriting factors

How this works?

If you are a non profit select Corporation

All future bond correspondence and renewals will be sent to this address

Clear pricing.Instant issuance.