NJ IBEW Local 102 wage & benefit bonds.
From $100. Enter your amount.

IBEW Local Union No. 102 requires a signatory electrical contractor to post a wage-and-benefit bond as part of its collective bargaining agreement — security that wages and employee benefit-fund contributions owed on behalf of Local 102 members actually reach the union's funds. The local sets the amount your contract requires; premiums cost 4% of the bond amount, $100 minimum, after a soft credit pull that never affects your score.

✓

Required by IBEW Local Union No. 102's collective bargaining agreement — not a New Jersey statute

✓

Backs wages and employee benefit-fund contributions the contractor owes Local 102's funds

✓

4% of the bond amount, $100 minimum — enter the amount the union set and see your exact price

From $1004% of the bond amount, $100 minimumSoft pull onlynever a hard inquiryFastinstant underwriting for most

Trusted by industry leaders

How it works

Apply to filed in one sitting.

Enter your amount, consent to a soft pull, and file the executed bond with the local. Here is the whole thing:

TODAY • ONLINE

Apply online

Your company details, the bond amount Local 102 set, and the effective date — plus a one-time credit consent that authorizes a soft pull only.

INSTANTLY

Approved

Most Local 102 wage-and-benefit bonds clear at application; pricing is 4% of the bond amount, $100 minimum. The credit consent authorizes a soft pull that never touches your score. Larger amounts may get a brief review.

SAME DAY

File with the union

Your executed bond and power of attorney arrive by email, ready to file with the local's benefit-fund office. Wet-ink originals mailed on request.

About this bond

What it is and who needs it.

What the IBEW Local 102 wage & benefit bond actually guarantees

A wage-and-benefit bond is the security a building-trades union asks a signatory employer to post alongside its collective bargaining agreement. IBEW Local Union No. 102 negotiates rates of pay and benefit-fund contributions on behalf of its members, and the bond backs a contractor's promise to actually remit what the agreement requires.

It is a private, contractual requirement, not a New Jersey licensing statute: the arrangement runs between the contractor (the principal), the surety, and the union or its benefit funds (the obligee). If a signatory contractor falls behind on wages or benefit-fund contributions covered by the agreement, Local 102 or the affected fund can make a claim against the bond, and the contractor then owes the surety for whatever it pays out.

There is no fixed statutory amount — the bond amount is whatever your agreement with Local 102 specifies, and it can be revisited as your union payroll changes. Enter the figure your contract requires; we price the bond at 4% of that amount, $100 minimum, after a quick soft credit check that never affects your score.

IBEW Local Union No. 102 collective bargaining agreement — not a New Jersey statuteThis bond is required by IBEW Local Union No. 102's collective bargaining agreement with signatory electrical contractors, not by a New Jersey statute or regulation. The local's business office (or its benefit-fund administrator) sets the bond amount and the wage and fund-contribution obligations it secures. Confirm your required amount and the specific fund payments covered with Local 102 or your CBA before applying.

You need this bond if you are

✓

An electrical contractor signatory to the Local 102 agreement hiring IBEW Local Union No. 102 members

✓

Bidding or performing work that requires proof of a posted wage-and-benefit bond before Local 102 will dispatch labor

✓

Renewing an existing bond whose amount needs to change with your union payroll

✓

A new signatory employer posting the bond for the first time under a fresh agreement

One application, priced at 4% of your amount.

These are the actual underwriting fields, including entity details and a one-time credit consent. That consent authorizes a soft pull only — it never runs a hard inquiry or touches your score.

Start the application →

FAQ

Common questions.

How much is the IBEW Local 102 wage & benefit bond?Premiums cost 4% of the bond amount, with a $100 minimum. The amount itself comes from your collective bargaining agreement with Local 102, not from a state statute. Enter the figure the local set and your exact price appears at the application.

What amount should I enter?The amount IBEW Local Union No. 102 specified in your agreement or dispatch requirement. If you are unsure, ask the local's business office or your union representative — they set the figure, and it can change as your union payroll changes.

What does the bond guarantee?It backs your obligation under the CBA to pay wages and benefit-fund contributions Local 102 negotiates on behalf of its members. If you fall behind, the local or its fund can claim against the bond, and you then owe the surety.

Is there a credit check?The application includes a credit consent, but it authorizes a soft credit pull only — a soft inquiry that never affects your score. No hard inquiry ever runs on this bond.

Where do I file it?With IBEW Local Union No. 102's business office or the administrator of its benefit fund, as your agreement or dispatch requirement specifies. We send the executed bond and power of attorney by email as soon as it issues.

Related bonds

Other New Jersey bonds.

Post the Local 102 bond your agreement requires.

Priced at 4% of the bond amount, $100 minimum, after a soft pull only. Enter the amount Local 102 set and file the same day.

Start application

Your premiumfrom $100

Apply now →