Minnesota Local 34 wage & welfare bonds.
$1,200 flat.
A contractor signatory to a collective bargaining agreement with the International Association of Heat and Frost Insulators and Allied Workers Local No. 34 can be required by the union's wage and welfare trust fund trustees to post a $30,000 bond securing timely wage and fringe-benefit contributions. Ours is $1,200 flat.
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How much does a Minnesota Local 34 wage & welfare bond cost?
$1,200 at the $30,000 amount, the same for every applicant.
Three steps. One sitting.
Fringe-benefit bonds like this one are about the simplest thing in surety. Here's the entire process:
Apply online
Company details, the collective bargaining agreement you're signatory to, and an effective date. A one-time soft-pull consent that never affects your score.
Pay & e-sign
Wage and welfare bonds like this are among the thousands of bond types that issue right after purchase. Issued when you pay. One soft credit pull, never a hard inquiry, and it never affects your score.
File with the fund office
Your executed bond and power of attorney arrive by email, ready to deliver to the Local 34 wage and welfare fund office. Wet-ink original mailed on request.
What it is and who needs it.
What the bond actually guarantees
A wage and welfare bond is fringe-benefit security, not a government-mandated license bond. When an insulation contractor signs a collective bargaining agreement with IAHFI Local No. 34, based in the Twin Cities and covering members across Minnesota, western Wisconsin, and South Dakota, it commits to make regular contributions — health and welfare, pension, and related fringe benefits — to the union's trust funds on behalf of every covered employee's hours worked.
To protect the fund and its members if a signatory contractor falls behind or defaults on those contributions, the trustees of the wage and welfare trust fund can require the contractor to post a bond. This is a private contractual requirement arising from the trust agreement and the collective bargaining agreement — not a Minnesota statute — so the amount, and whether a bond is required at all, follows the fund's own rules rather than a fixed public code section.
It's a three-party arrangement: you (the principal, the signatory contractor), the surety, and the trust fund trustees as obligee. If contributions go unpaid and the fund is harmed, the trustees can claim against the $30,000 bond, and if the surety pays, the contractor repays the surety.
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 $30,000 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; a longer term is the same price per year, chosen at checkout.
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 fund office. Your executed bond and power of attorney arrive by email, ready to deliver to the Local 34 wage and welfare fund office. Wet-ink original mailed on request.
What sets the price
The premium is fixed at $1,200 at the $30,000 amount for every applicant: the carrier’s rate book prices this bond by the form, not by your credit or 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 check.
Submit the application with your company and collective bargaining agreement details. Approval typically follows a quick soft credit check that never affects your score.
Start the application →Common questions.
Other Minnesota bonds.
Been told you need a different amount?
Price and requirements checked on the carrier’s application, . Page updated .
Satisfy Local 34's bonding requirement.
$1,200 flat, soft pull only, bond often issued in the same sitting. Free until issued.