NY Joint Industry Board wage & welfare bonds.
4% of the bond amount.

The Joint Industry Board of the Electrical Industry, which administers wage, pension, health, and annuity trust funds for the New York City electrical industry alongside IBEW Local 3, requires signatory electrical contractors to post a wage and welfare bond guaranteeing union-scale wages and fund contributions. This is a private requirement of the electrical industry's collective bargaining agreement — not a New York statute. Premiums cost 4% of the bond amount, $100 minimum. Enter the amount your signatory agreement requires and your exact price appears at the application.

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Required by the Joint Industry Board of the Electrical Industry as a condition of signatory status under the IBEW Local 3 agreement

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Backs contributions to wage, pension, health, and annuity trust funds for NYC electrical industry workers

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4% of the bond amount, $100 minimum — your exact price appears at the application

4%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.

No long underwriting queue for the standard wage and welfare bond — enter your amount, consent to a soft pull, and file with the Board. Here is the whole thing:

TODAY · ONLINE

Apply online

Your company details, the bond amount your signatory agreement requires, and the effective date — plus a one-time consent to a soft credit pull.

FAST REVIEW

Approved

Most wage and welfare bonds clear quickly. The application includes a credit consent, but it authorizes a soft pull only — a soft inquiry that never affects your score. Larger amounts may get a brief review.

SAME DAY

File with the Joint Industry Board

Your executed bond and power of attorney arrive by email, ready to file with the Joint Industry Board of the Electrical Industry. Wet-ink originals mailed on request.

About this bond

What it is and who needs it.

What the wage and welfare bond actually guarantees

The Joint Industry Board of the Electrical Industry is a labor-management trust that administers the wage, pension, health, and annuity funds negotiated between IBEW Local 3 and signatory electrical contractors in the New York City area. A contractor who signs the industry's collective bargaining agreement agrees to pay union-scale wages and to remit contributions to those trust funds.

The wage and welfare bond backs those obligations. It is a three-party arrangement: you (the principal), the surety carrier, and the Joint Industry Board and its trust funds (the obligee / protected parties). If a signatory contractor fails to pay covered wages or remit fund contributions, the Board can recover against the bond.

It is not insurance for you — if the surety pays a claim, you repay the surety. This is a private contractual requirement of the collective bargaining agreement, not a New York statute, so there is no single published bond amount — the Board sets the figure per contractor. Enter the amount your agreement calls for; premiums price at 4% of that amount, $100 minimum, and the application includes a credit consent that authorizes a soft pull only.

Joint Industry Board of the Electrical Industry / IBEW Local 3 collective bargaining agreement — private trust requirement, not a New York statuteThis bond is not created by a New York statute or regulation. It is required under the collective bargaining agreement between signatory electrical contractors and IBEW Local 3, administered through the Joint Industry Board of the Electrical Industry, whose trust funds cover the wage, pension, health, and annuity obligations owed to covered workers in the New York City electrical industry. The bond amount, term, and specific conditions are set by the Board and the signatory agreement rather than by public statute. Confirm your required amount and filing details with the Joint Industry Board directly.

You need this bond if you are

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A contractor signing the CBA administered through the Joint Industry Board and IBEW Local 3

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Employing electrical workers represented by Local 3 and required to bond your wage and welfare obligations

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Renewing your signatory status with a wage and welfare bond that is expiring

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Bidding union electrical work in the New York City area that conditions the job on this bond

One application, then a quick review.

Submit the application with the bond amount your signatory agreement requires. Most wage and welfare bonds clear quickly; larger amounts may get a brief underwriter review.

Start the application →

FAQ

Common questions.

How much is the Joint Industry Board wage and welfare bond?Premiums cost 4% of the bond amount, with a $100 minimum. The amount itself is set by the Joint Industry Board per contractor under the IBEW Local 3 collective bargaining agreement — there is no single published figure. Enter the amount your signatory agreement requires and your exact price appears at the application.

Who requires this bond, and why?The Joint Industry Board of the Electrical Industry requires it of signatory contractors as a condition of the collective bargaining agreement negotiated with IBEW Local 3. It guarantees union-scale wages and contributions to the wage, pension, health, and annuity trust funds the Board administers.

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. Larger bond amounts may get a brief underwriter review.

What does the bond protect against?It guarantees that a signatory contractor actually pays the union-scale wages and remits the trust fund contributions the collective bargaining agreement requires. If a contractor fails to and the Board or its funds are harmed, they can claim against the bond — and if the surety pays, the contractor repays the surety. It is a trust-fund backstop, not insurance for you.

What amount should I enter?The figure your signatory agreement with the Joint Industry Board specifies. There is no single citywide amount — it is set per contractor. If you are unsure of your figure, check your signatory agreement or contact the Joint Industry Board directly.

Related bonds

Other New York bonds.

Signatory status, without the bond holdup.

Premiums cost 4% of the bond amount, $100 minimum. Enter the amount your agreement requires and file with the Board the same day.

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Your premiumfrom $100

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