TN IBEW 474 wage & welfare bonds.
$1,000 flat.

IBEW Local Union No. 474 — the Memphis-based local of the International Brotherhood of Electrical Workers — also requires a signatory electrical contractor to post a $25,000 wage and welfare bond for certain contractor classes, 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 $1,000 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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Required by IBEW Local Union No. 474 as a condition of signing its collective bargaining agreement

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Guarantees union-scale wages and fringe benefit fund contributions owed by a signatory contractor

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Fixed price, fixed amount — $25,000 bond, $1,000, no quote process

A-ratedA.M. Best carriersInstantissued the moment you paySoft pull onlynever a hard inquiry

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How it works

Three steps. One sitting.

Signatory status with Local 474 is waiting on this one filing. Here's the entire process:

NOW · ONLINE

Apply online

Business details, an effective date, and a one-time consent to a soft credit pull. That is the entire application.

MINUTES, USUALLY

Pay & e-sign

This bond is checkout-priced at $1,000 flat, so it issues the moment you pay. At most, 1–2 business days.

SAME DAY

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.

About this bond

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. Alongside a lower $5,000 wage and welfare tier the local also uses, some signatory contractors sign a collective bargaining agreement that conditions their status on this $25,000 bond, guaranteeing union-scale wages and 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 $25,000 amount is set by the local rather than a public statute. Confirm with Local 474 which bond tier applies to your agreement before filing — we issue both the $5,000 and $25,000 versions.

IBEW Local Union No. 474 — collective bargaining agreementThis bond is required by IBEW Local Union No. 474 as a condition of a contractor's signatory status under its collective bargaining agreement, guaranteeing payment of union wages and fringe benefit fund contributions. It is a private union requirement, not a Tennessee statute. Local 474 sets more than one bond tier; confirm the $25,000 amount and filing form directly with the local or its benefit funds administrator before applying.

You need this bond if you're

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An electrical contractor signing the CBA with IBEW Local Union No. 474 at the $25,000 tier

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Employing Local 474 electricians and required to bond your wage and welfare obligations at this amount

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Renewing your signatory status with a $25,000 wage and welfare bond that is expiring

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Bidding union electrical work in Memphis or elsewhere in Local 474's jurisdiction that conditions the job on this bond

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 →

FAQ

Common questions.

How much is the IBEW Local 474 $25,000 wage and welfare bond?The premium is $1,000 flat — set by our carrier's rate book for this bond, the same for every signatory contractor at this tier. The $25,000 bond amount is set by IBEW Local Union No. 474's collective bargaining agreement, so there is no quote process.

Do I pay the $25,000?No. You pay $1,000. The $25,000 is the surety's maximum liability if a valid claim is made against the bond — not a deposit, and nobody holds your money.

How is this different from the $5,000 Local 474 bond?Same local, different tier of its collective bargaining agreement. Confirm with Local 474 which amount your signatory agreement requires — we issue both the $5,000 and $25,000 versions, each at its own flat premium.

Is there a credit check?The application includes a credit consent, but it authorizes a soft credit pull only — a soft inquiry that never affects your score. No hard inquiry ever runs on this bond, and the $1,000 price does not change with the result.

What does the bond guarantee?That your company pays union-scale wages and remits contributions to Local 474's benefit funds. If you fall short, the local can claim against the bond, and if the surety pays, you repay the surety.

Related bonds

Other Tennessee bonds.

Local 474 signatory status waiting on one bond.

$1,000 flat, no quote process, bond often issued in the same sitting. Free until issued.

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Your price$1,000

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