New Jersey IBEW Local 351 wage & welfare bonds.
From $100.
A contractor who signs the collective bargaining agreement with IBEW Local 351 agrees to post a surety bond guaranteeing payment of wages and fringe-benefit fund contributions owed under the agreement. It is a private contractual requirement, not a New Jersey statute. Premiums cost 4% of the bond amount, $100 minimum.
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How much does a New Jersey IBEW Local 351 wage & welfare bond cost?
4% of the bond amount, from $100. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
No long underwriting queue for the standard wage-and-welfare bond — enter your amount, consent to a soft pull, and file with the union. Here is the whole thing:
Apply online
Your company details, the bond amount your CBA requires, the effective date, and a one-time consent to a soft credit pull.
Approved
Most Local 351 wage-and-welfare bonds clear quickly — the soft pull informs approval and never touches your score. Pricing is 4% of the bond amount, $100 minimum. Larger amounts may get a brief review.
File with the union
Your executed bond and power of attorney arrive by email, ready to file with IBEW Local 351 to keep your signatory status current. Wet-ink originals mailed on request.
What it is and who needs it.
What the Local 351 wage & welfare bond actually guarantees
A union wage-and-welfare bond is a private financial guarantee, not a government-mandated one. When a contractor signs (or renews) the collective bargaining agreement with IBEW Local 351 to hire its journeymen and apprentices, the agreement typically requires the contractor to post a surety bond naming the Local (or its funds) as obligee, guaranteeing that wages and the associated fringe-benefit fund contributions — health & welfare, pension, annuity, and training fund payments — are actually paid on the hours worked.
IBEW Local 351 is the electrical workers' local covering Atlantic, Cape May, Cumberland, and surrounding South Jersey counties.
It is a three-party arrangement: the contractor (principal), the surety carrier, and Local 351 or its trust funds (obligee), protecting the electricians and their benefit funds. If a signatory contractor falls behind on payroll or fund contributions, the Local (often through its Labor-Management Committee or the funds' trustees) can make a claim against the bond to recover the delinquent amounts directly for the affected workers and funds.
The required bond amount is set by your CBA, not by state law — it is commonly sized to a multiple of your payroll, including fringe benefits, with a floor the agreement specifies. Confirm the exact figure with IBEW Local 351 or its NECA chapter counterparts before you apply; enter that figure and your premium is priced from a $100 minimum after a quick soft credit check 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 union. Your executed bond and power of attorney arrive by email, ready to file with IBEW Local 351 to keep your signatory status current. Wet-ink originals mailed on request.
What sets the price
The premium is 4% of the bond amount, $100 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.
These are the actual underwriting fields, including a one-time consent to a soft credit pull. The pull never affects your score, and your price — 4% of the bond amount, $100 minimum — is set at application.
Start the application →Common questions.
Other New Jersey bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Stay signatory without the bond holdup.
Premiums 4% of the bond amount, $100 minimum. Enter the amount your CBA requires and file with Local 351 the same day.