Ohio IBEW Local 972 wage & fringe bonds.
From $100.
An electrical contractor signatory to the IBEW Local No. 972 inside-wireman agreement in the Mid-Ohio Valley can be required to post a wage-and-fringe-benefit bond securing the wages and fund contributions the agreement obligates it to pay. Premiums cost 4% of the bond amount, $100 minimum.
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How much does an Ohio IBEW Local 972 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-and-fringe bond — enter your amount, consent to a soft pull, and file with the local. Here is the whole thing:
Apply online
Your company details, the bond amount your Local No. 972 agreement requires, the effective date, and a one-time credit consent authorizing a soft pull only.
Approved
Most wage-and-fringe bonds clear immediately — the soft pull informs approval and never affects your score. Pricing is 4% of the bond amount, $100 minimum.
File with the local
Your executed bond and power of attorney arrive by email, ready to file with IBEW Local No. 972 as proof of security before you are dispatched.
What it is and who needs it.
What the Local 972 wage & fringe bond actually guarantees
IBEW Local No. 972 represents inside-wireman electrical workers across the Mid-Ohio Valley, based in Marietta. Its collective bargaining agreement with signatory contractors typically obligates the contractor to pay covered wages and to remit health, pension, and other fringe-benefit contributions on hours worked. A wage-and-fringe-benefit bond is the security device the local can require to back that promise.
The bond names IBEW Local No. 972 as the obligee. It is a three-party arrangement: the contractor (principal), the surety, and the local (obligee) — with covered electricians as the people it ultimately protects. If a signatory contractor fails to pay wages or remit fund contributions, the local can claim against the bond, and if the surety pays, the contractor repays the surety.
There is no statewide statutory amount — the figure is set by your specific agreement with the local and can scale with your covered payroll or crew size. Confirm the required amount with your Local No. 972 business manager or benefit fund office; enter it here and we price the bond from a $100 minimum.
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 local. Your executed bond and power of attorney arrive by email, ready to file with IBEW Local No. 972 as proof of security before you are dispatched.
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 instantly.
These are the actual underwriting fields, including a one-time credit consent authorizing a soft pull only. 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 Ohio bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Post your wage & fringe bond without the dispatch delay.
4% of the bond amount, $100 minimum, soft pull only. Enter the amount your agreement requires and file with Local No. 972 the same day.