Drywall Tapers Local 1974 wage & benefits bonds.
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A contractor signed to the Drywall Tapers and Pointers Local 1974 Trade Agreement must post $20,000 in security with the industry’s Joint Board, backing tapers’ wages, benefit-fund contributions and any damages the Board assesses. A surety bond can stand in for cash, and a surety specialist reviews your file and returns a quote, usually within one business day.
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How much does a Drywall Tapers Local 1974 wage & benefits bond cost?
It is underwritten: the premium is quoted from the bond amount and your financial picture, so there is no flat price to show.
Posted inside your 30-day window.
The Trade Agreement gives a newly signed employer thirty days to put its security in place with the Joint Board. Here is the whole process:
Send us the file
Apply online with your business and ownership details, the bond amount the Joint Board requires, and the date you signed the Trade Agreement or Independent Agreement, plus a credit consent that authorizes a soft pull only.
A surety specialist underwrites it
A specialist reviews your credit, finances and history of paying the funds, then returns a quote. The amount is set by the agreement and the Joint Board; underwriting decides approval, price and any collateral.
Execute & deposit
Once you bind, we issue the executed bond with the power of attorney attached, ready to deposit with the Joint Board through the Local 1974 fund office. Wet-ink original mailed on request.
What it is and who needs it.
What the Local 1974 security actually guarantees
District Council No. 9’s Drywall Tapers and Pointers of Greater New York Local Union 1974 (IUPAT) bargains with the Drywall Taping Contractors’ Association of Greater New York and the Association of Wall-Ceiling & Carpentry Industries of New York. Their Trade Agreement covers tapers’, finishers’ and pointers’ work in the Bronx, Brooklyn, Manhattan, Queens and Staten Island and in listed parts of Nassau County. That work includes gypsum wallboard taping and finishing, fire taping, fire-stopping systems and skim coating.
Article VIII, Section 1(f) requires each Employer, within thirty days of signing, to provide security to the Joint Board (the agreement calls it the Drywall Taping Industry Board) as authorized collection agent. The security backs the employer’s payment of wages, insurance, welfare, pension and vacation benefits, annuity contributions and liquidated damages the Joint Board assesses. It may be cash, a proper security bond, or other security the Board accepts, in the sum of $20,000. If the Board has to sue on it, the employer also owes a further twenty-five percent of the recovery as the cost of bringing suit.
The amount is not frozen. Under Section 1(h) the Joint Board can change it on two weeks’ notice to all employers. Under Sections 1(i) and 1(j) it can demand added security, including an increased surety bond, after a collection suit or when a delinquency exceeds the deposit. And under Section 1(g), an employer that has failed to pay sums the Board found due within five days’ notice is held to cash only, with no bond accepted.
It is not insurance for you. If the surety pays the Joint Board, you repay the surety. This is a private union-contract requirement, not a New York statute, and the current agreement runs to June 27, 2027. Confirm the amount and the obligee wording with the Local 1974 fund office before you apply.
You need this bond if you’re
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
Term and renewal are set in the underwriter's quote.
Keep the bond in force for as long as the obligation behind it runs.
How to file it
Send us the file. Apply online with your business and ownership details, the bond amount the Joint Board requires, and the date you signed the Trade Agreement or Independent Agreement, plus a credit consent that authorizes a soft pull only.
What sets the price
This bond is underwritten: the premium is quoted from the bond amount and your financial picture, so there is no flat price to show.
One application, one underwriting review.
These are the actual underwriting fields: business and ownership details, the bond amount, the effective date, the date you signed the Trade Agreement, and a credit consent that authorizes a soft pull only. A surety specialist reviews it and returns a quote, typically within one business day. Free until your bond is issued.
Start the application →Common questions.
Other New York bonds.
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Post your Local 1974 security with a bond, not cash.
Send us the amount the Joint Board requires and the date you signed, and a surety specialist underwrites and quotes the bond, typically within one business day. Free until issued.