TN IBEW 474 wage & welfare bonds.
$200 flat.
IBEW Local Union No. 474 — the Memphis-based local of the International Brotherhood of Electrical Workers — requires a signatory electrical contractor to post a $5,000 wage and welfare bond guaranteeing union-scale wages and contributions to the local's benefit funds. This is a private requirement of Local 474's collective bargaining agreement, not a Tennessee statute. Ours is $200 flat, and the price you see is the checkout price. The application includes a credit consent, but it authorizes a soft pull only — never a hard inquiry.
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Three steps. One sitting.
Signatory status with Local 474 is waiting on this one filing. Here's the entire process:
Apply online
Business details, an effective date, and a one-time consent to a soft credit pull. That is the entire application.
Pay & e-sign
This bond is checkout-priced at $200 flat, so it issues the moment you pay. At most, 1–2 business days.
File with the local
Your executed bond and power of attorney arrive by email, ready to file with IBEW Local 474 so your signatory status stays current. Wet-ink original mailed on request.
What it is and who needs it.
What the bond actually guarantees
IBEW Local Union No. 474 is the Memphis-based affiliate of the International Brotherhood of Electrical Workers. A contractor who signs Local 474's collective bargaining agreement agrees to pay union-scale wages and to remit contributions to the local's fringe benefit funds — health & welfare and related benefit accounts covering its members.
The wage and welfare bond backs those obligations for a signatory contractor. It is a three-party arrangement: you (the principal), the surety carrier, and IBEW Local Union No. 474 and its benefit funds (the obligee / protected parties). If a signatory contractor fails to pay covered wages or remit fund contributions, the local can recover against the bond.
It is not insurance for you — if the surety pays a claim, you repay the surety. This is a private contractual requirement of the collective bargaining agreement, not a Tennessee statute, so the $5,000 amount is set by the local rather than a public statute. The bond must stay on file for as long as you hold signatory status, so we track the term and send renewal notices ahead of expiration.
You need this bond if you're
One application, issued instantly.
These are the actual issuing fields — business details, an effective date, and a soft-pull credit consent that never affects your score.
Start the application →Common questions.
Other Tennessee bonds.
Local 474 signatory status waiting on one bond.
$200 flat, no quote process, bond often issued in the same sitting. Free until issued.