New York IBEW Local 106 wage & fringe bonds.
From $100.
An electrical contractor that signs on with IBEW Local Union 106, headquartered in Jamestown and covering Chautauqua County and part of Cattaraugus County, posts a bond securing the wages and fringe-benefit fund contributions its labor agreement requires. Local 106 sets the amount. Premiums cost 4% of the bond amount, $100 minimum.
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How much does a New York IBEW Local 106 wage & fringe 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 & fringe bond — enter your amount, pay, and file with Local 106. Here is the whole thing:
Apply online
Your business details, the bond amount Local 106 set, and the effective date — plus a one-time consent to a soft credit pull.
Approved
Most wage & fringe bonds clear quickly; the soft pull informs approval and never affects your score. Larger amounts may get a brief review.
File with Local 106
Your executed bond and power of attorney arrive by email, ready to file with IBEW Local Union 106’s business office as part of your signatory paperwork.
What it is and who needs it.
What the wage & fringe bond actually guarantees
This bond is a contractual guarantee, not a licensing bond. When an electrical contracting employer signs on as a signatory with IBEW Local Union 106, headquartered in Jamestown, the local’s agreement can condition employing its members on the employer posting a bond that stands behind the wages and fringe-benefit fund contributions it owes covered electricians.
It is a three-party arrangement: you (the principal), the surety carrier, and IBEW Local Union 106 (the obligee), with the local’s electrical workers and their benefit funds as the protected interest. If a signatory employer falls behind on covered wages or fringe-benefit contributions, the local can make a claim against the bond up to its face amount.
It is not insurance for you — if the surety pays a claim, you repay the surety. There is no single fixed amount; Local 106 sets the figure based on your workforce and labor agreement. Keep the bond current for as long as you employ Local 106 members, and we send renewal notices ahead of expiration.
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 Local 106. Your executed bond and power of attorney arrive by email, ready to file with IBEW Local Union 106’s business office as part of your signatory paperwork.
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, issued fast.
These are the actual issuing fields — the only sensitive item is a soft credit-consent checkbox, and it never triggers a hard pull.
Start the application →Common questions.
Other New York bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Get your Local 106 filing bonded today.
From $100, soft pull only. Enter your required amount and file with Local 106 the same day.