NH IBEW Local 490 wage & fringe bonds.
4% of the bond amount.
A signatory electrical contractor working under the International Brotherhood of Electrical Workers (IBEW) Local No. 490 collective bargaining agreement posts this combined bond so both the wages it owes and the welfare and fringe benefit contributions it reports actually reach Local 490 members and the benefit funds the local administers. It is a collective bargaining obligation, not a New Hampshire 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.
A new signatory agreement usually comes with a start date attached, and the local wants the bond in hand before work begins. This one is built to move:
Apply online
Your company details, years in business, the bond amount your agreement or the local set, an effective date, and the credit consent that authorizes a soft pull. That is the application.
Issued
Most applications approve instantly. The credit consent authorizes a soft inquiry that never affects your score, and no hard inquiry ever runs on this bond.
Send it to the local
Your executed bond and power of attorney arrive by email, ready to send to IBEW Local No. 490 and the wages/welfare/fringe funds office it administers. Wet-ink original mailed on request.
What it is and who needs it.
What the IBEW Local 490 wages, welfare and fringe benefits bond actually guarantees
When an electrical contractor signs a collective bargaining agreement with the International Brotherhood of Electrical Workers (IBEW), Local No. 490 — the local covering electrical construction, maintenance, and telecommunications work in New Hampshire and southern York County, Maine — it takes on the local's negotiated wage schedule and employer contributions to its welfare and fringe benefit funds, typically health and welfare, pension, and apprenticeship/training. A combined wages, welfare, and fringe benefit bond is the security the local (or its funds office) can require a signatory contractor to post before it dispatches workers or accepts reports, or when a contractor has a history of late or short payments.
The bond guarantees that wages owed to Local 490-represented electricians and the welfare and fringe benefit contributions reported for them actually reach the people and funds owed. If a contractor becomes delinquent, the local or its funds office can make a claim against the bond, up to the bonded sum, to recover the shortfall; the surety then seeks reimbursement from the contractor. The bond amount is not a flat statutory figure — the union sets it under its own regulations and signatory agreements, scaled to the contractor's covered payroll and expected exposure.
This is a private, contractual bond, not a New Hampshire licensing requirement — no state agency issues it or receives it. The obligation runs from the collective bargaining agreement between the contractor and IBEW Local 490. We price the bond from a $100 minimum at 4% of the amount the local sets, and the application includes only a soft credit consent — never a hard inquiry.
You need this bond if you are
One application, priced on the spot.
These are the actual issuing fields. The credit consent authorizes a soft pull only — a soft inquiry that never affects your score.
Start the application →Common questions.
Other New Hampshire bonds.
Signatory status waiting on one bond.
4% of the bond amount, $100 minimum. Enter the sum your local named and send it in the same day. Free until issued.