Laborers Local 500 wage bonds.
From $100.
A contractor signatory to the Laborers’ District Council of Ohio’s Local 500 collective bargaining agreement can be required to post a wage & welfare bond backing the covered wages and the welfare-fund contributions owed on every hour of laborer work billed. Premiums cost 4% of the bond amount, $100 minimum.
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How much does a Laborers Local 500 wage 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 & welfare bond — enter your amount and employer account number, consent to a soft pull, and file with the district council. Here is the whole thing:
Apply online
Your company details, your Local 500 employer account number, the bond amount the welfare fund requires, the effective date, and a one-time credit consent that authorizes a soft pull only.
Issued
Most wage & welfare bonds clear quickly at 4% of the bond amount, $100 minimum. If a check runs, it is a soft pull that will not touch your score; larger amounts may get a brief underwriter look.
File with the district council
Your executed bond arrives by email, ready to submit to the Laborers’ District Council of Ohio so your Local 500 signatory status stays current. Wet-ink originals mailed on request.
What it is and who needs it.
What the wage & welfare bond actually guarantees
A contractor that signs the Laborers’ District Council of Ohio’s Local 500 collective bargaining agreement agrees to pay covered laborers at the negotiated scale and remit welfare-fund contributions — health & welfare, pension, and related benefits — on every hour worked. The district council tracks each signatory by an employer account number, and this bond is filed against that account.
It is a three-party arrangement: the contractor (principal), the surety, and the Local 500 welfare fund (obligee), protecting the union laborers and their families who depend on wages and welfare contributions being paid in full and on time. If a shortfall harms the fund, it can claim against the bond — and the contractor repays the surety if it pays.
There is no single fixed penal sum — the amount is set by the welfare fund, generally scaled to the contractor’s estimated monthly wage and welfare-fund liability. Enter the figure required and your Local 500 employer account number; we price the bond from a $100 minimum after a credit consent that authorizes a soft pull only.
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 district council. Your executed bond arrives by email, ready to submit to the Laborers’ District Council of Ohio so your Local 500 signatory status stays current. Wet-ink originals mailed on request.
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, then a quick review.
Submit the application with your Local 500 employer account number and the bond amount the welfare fund requires. Most clear quickly at 4% of the bond amount, $100 minimum.
Start the application →Common questions.
Other Ohio bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Stay signatory without the paperwork holdup.
Premiums from $100, soft pull only. Enter your employer account number and the amount the welfare fund requires.