Oregon sheet metal trust funds bonds.
$200 flat.
A sheet metal contractor signatory to the SMART Local 16 agreement with SMACNA – Oregon & S.W. Washington posts this bond so the fringe-benefit contributions it reports each month reach the local and national funds. It is a bargaining obligation, not a state license. Ours is $200 flat for a $10,000 bond.
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How much does an Oregon sheet metal trust funds bond cost?
$200 at the $10,000 amount, the same for every applicant.
Three steps. One sitting.
The funds usually want security in hand before your first monthly report clears. Here is the entire process:
Apply online
Company details, years in business, a short set of surety history questions, an effective date, and the credit consent that authorizes a soft pull. That is the application.
Pay & e-sign
Contribution bonds at this size are among the thousands of bond types that issue right after purchase. Issued when you pay. One soft credit pull, never a hard inquiry, and it never affects your score.
Send it to the fund office
Your executed bond and power of attorney arrive by email, ready to go to the Local 16 trust fund office in Portland. Wet-ink original mailed on request.
What it is and who needs it.
What the contribution bond actually guarantees
A shop signatory to the agreement between NWRC of SMART, Local 16 and SMACNA – Oregon & S.W. Washington agrees to pay negotiated hourly contributions into a stack of jointly trusteed funds on top of wages: the Sheet Metal Workers Local No. 16 Health Care Plan, a Master Retirement Trust split between a defined benefit pension sub-trust and an Individual Account Plan, the Sheet Metal Training Fund run by the joint apprenticeship committee, the local Industry Fund, and the national programs the agreement binds the parties to — the Sheet Metal Workers’ National Pension Fund, the International Training Institute, the National Energy Management Institute Committee, the Sheet Metal Occupational Health Institute Trust and the Industry Fund of the United States.
That money is not the contractor’s. Contributions are due by the 15th of the month following the month they were earned and delinquent if not paid in full by the 20th. The trustees may then initiate collection in the name of each trust, and a delinquent employer owes the unpaid contributions plus liquidated damages framed on ERISA § 502(g)(2), which awards unpaid contributions, interest, liquidated damages, attorney fees and costs in a successful collection suit; ERISA § 515 is what obliges the employer to contribute in accordance with the agreement in the first place. The trustees also hold audit rights over vacation pay, dues and fund payments — and if the audit turns up an underpayment, the employer pays the entire cost of the audit. Under the agreement, the union may withdraw every employee from a delinquent employer on seven days’ notice.
The bond closes the gap between hours worked and money received. The agreement’s bonding provisions require an employer to comply with the bonding requirements governing local funds that the local parties negotiate, and with bonding requirements the trustees of the national funds establish; for work taken in another SMART local’s area those provisions cap the bond at three months’ estimated contributions to the local and national funds. A contractor that has already been delinquent falls squarely in the bonding class. The $10,000 and $7,500 amounts are the two tiers we write — the fund office tells you which one your paperwork calls for. It is not insurance for you: if the surety pays the funds, you repay the surety. Keep it in force for as long as you are signatory, or until the trustees release it.
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 $10,000 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; a longer term is the same price per year, chosen at checkout.
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
Pay & e-sign. Contribution bonds at this size are among the thousands of bond types that issue right after purchase. Issued when you pay. One soft credit pull, never a hard inquiry, and it never affects your score.
What sets the price
The premium is fixed at $200 at the $10,000 amount for every applicant: the carrier’s rate book prices this bond by the form, not by your credit or 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 issuing fields. The credit consent authorizes a soft pull only — a soft inquiry that never affects your score.
Start the application →Common questions.
Other Oregon bonds.
Been told you need a different amount?
Price and requirements checked on the carrier’s application, . Page updated .
Signatory paperwork waiting on one bond.
$200 flat, soft pull only, and the executed bond often in the same sitting. Free until issued.