This is a private, contractual bond — Oregon has no statute requiring it, and no Oregon agency receives it. The obligation comes from the collective bargaining agreement between NWRC of SMART, Local 16 and SMACNA – Oregon & S.W. Washington, together with the trust agreements governing the funds. The agreement’s bonding provisions require an employer without prior participation and contribution history, or one that has been delinquent, to post security to secure future payment of contributions, in the manner and to the extent the local parties and the national funds’ trustees require; when working in another SMART local’s area those provisions cap such bonds at three months’ estimated contributions to the local and national funds. Contributions are due by the fifteenth day of the month following the month in which they were earned and are delinquent if not paid in full by the twentieth; the trustees may initiate collection in the name of each trust and hold audit rights over vacation pay, dues and fund payments, with the employer paying the entire cost of an audit that finds an underpayment. The agreement also lets the union withdraw employees from a delinquent employer on notice. The named funds include the Sheet Metal Workers Local No. 16 Health Care Plan, the Master Retirement Trust (defined benefit pension sub-trust and Individual Account Plan), the Sheet Metal Training Fund, the local Industry Fund, 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. The federal backdrop is ERISA § 515, 29 U.S.C. § 1145, and ERISA § 502(g)(2), 29 U.S.C. § 1132(g)(2); suits on the agreement itself are brought under LMRA § 301, 29 U.S.C. § 185. The obligee named on the bond is the union or the trustees of the funds, so confirm the exact obligee wording, the required penal sum, the bond form, and the exact notice periods and delinquency dates with the Local 16 trust fund office in Portland before the bond is issued. Amounts and bonding policy are set by the parties and the trustees, not by statute, and can change with each agreement.

What the contribution bond actually guarantees

You need this bond if you are

Contribution bonds at this size usually clear fast — many issue right after purchase, and at most within 1–2 business days. Your e-signed bond will arrive by email, ready to send to the fund office.

$200 flat for the $10,000 sheet metal trust funds contribution bond an OR signatory shop posts for the SMART Local 16 funds. Soft pull only, issued instantly.

Sheet Metal Trust Funds Bond ($10,000)

Oregon - Sheet Metal Trust Funds ($10,000)

Final premium can vary based on underwriting factors

How this works?

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All future bond correspondence and renewals will be sent to this address

Clear pricing.Instant issuance.