Ohio IBEW Local 38 wage & welfare bonds.
From $100.
A contractor who signs a collective bargaining agreement with Cleveland-area IBEW Local No. 38 can be required to post a wage and welfare bond securing the wages and welfare-fund contributions the agreement obligates the contractor to pay. Premiums cost 2% of the bond amount, $100 minimum.
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How much does an Ohio IBEW Local 38 wage & welfare bond cost?
2% 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 a standard wage & welfare bond — enter your amount, consent to a soft pull, and file with Local 38. Here is the whole thing:
Apply online
Your company details, the bond amount Local 38 or the fund administrator required, and the effective date — plus a one-time consent to a soft credit pull.
Approved
Most wage & welfare bonds this size clear quickly; the soft pull never affects your score. Larger amounts may get a brief underwriter review.
File with Local 38
Your executed bond and power of attorney arrive by email, ready to file with the union or its trust fund office so your CBA obligations are on record.
What it is and who needs it.
What the wage & welfare bond actually guarantees
IBEW Local 38 has represented electrical workers in Cleveland and Northeast Ohio since 1895. A contractor who signs the collective bargaining agreement with Local 38 commits to pay covered wages and to make contributions to the union's health & welfare and pension trust funds on behalf of the electricians it employs.
The wage & welfare bond is the local's financial backstop for that promise. Unlike insurance, which protects the contractor, this bond protects union members and the trust funds — if a signatory contractor fails to remit wages or welfare-fund contributions the CBA requires, the union or trust fund can make a claim against the bond up to its penal amount, and the contractor repays the surety for anything paid out.
This is not a government-mandated bond — no Ohio statute requires it. It is a private condition of doing signatory electrical work under the Local 38 agreement, imposed by the union and its trust fund administrator, who also set the required amount for your company. Confirm the figure your agreement calls for; we price whatever amount you enter.
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 38. Your executed bond and power of attorney arrive by email, ready to file with the union or its trust fund office so your CBA obligations are on record.
What sets the price
The premium is 2% 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 — from a $100 minimum — is set at application.
Start the application →Common questions.
Other Ohio bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Signatory status, bonded today.
2% of the bond amount, $100 minimum, soft pull only. Enter your required amount and file with Local 38 the same day.