Virginia IBEW Local 666 bonds.
$200 flat.
A contractor signatory to a collective bargaining agreement with IBEW Local Union No. 666 (Richmond), through the Atlantic Coast Chapter of the National Electrical Contractors Association, posts this $5,000 bond to secure its wages and fringe-benefit fund contributions. Ours is $200 flat.
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How much does a Virginia IBEW Local 666 bond cost?
$200 at the $5,000 amount, the same for every applicant.
Three steps. One sitting.
This is a fixed-amount, fixed-price fringe benefits bond. Here’s the entire process:
Apply online
Company details, an effective date, and a one-time consent to a soft credit pull — that’s the application.
Pay & e-sign
Fringe benefits bonds at this fixed amount are among the 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.
File with Local 666
Your executed bond and power of attorney arrive by email, ready to file with IBEW Local Union No. 666, the Atlantic Coast Chapter of NECA, or the fringe benefit fund administrator. Wet-ink original mailed on request.
What it is and who needs it.
What the IBEW Local 666 fringe benefits bond actually guarantees
A fringe benefits bond — sometimes called a wage-and-welfare bond — is the financial guarantee a union local requires of a signatory contractor: a contractor bound by a collective bargaining agreement to employ covered electricians. IBEW Local Union No. 666, based in the Richmond area, works through the Atlantic Coast Chapter of the National Electrical Contractors Association (NECA) on the Fourth District Regional Agreement covering Maryland, Virginia, and D.C.
That agreement’s Surety Bond article requires each signatory employer to furnish a surety bond (or cash-equivalent line of credit) to secure payment of all amounts due on account of payroll and fund-deduction, contribution, and reporting obligations, and provides that the Atlantic Coast Chapter of NECA determines the amount due and directs payment from the bond to affected employees and fund trustees. This carrier’s form is written at a fixed $5,000.
It is a three-party arrangement: the contractor (the principal), the surety carrier, and IBEW Local Union No. 666 or the Atlantic Coast Chapter of NECA on behalf of the affected fringe benefit funds (the obligee), protecting the covered workers whose wages and benefits depend on those contributions actually arriving. If a signatory contractor falls short, the union or Chapter can direct payment from the bond, and if the surety pays, the contractor repays the surety.
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 $5,000 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
File with Local 666. Your executed bond and power of attorney arrive by email, ready to file with IBEW Local Union No. 666, the Atlantic Coast Chapter of NECA, or the fringe benefit fund administrator. Wet-ink original mailed on request.
What sets the price
The premium is fixed at $200 at the $5,000 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 fast.
These are the actual underwriting fields, including your company details and a one-time consent to a soft credit pull. The pull never affects your score.
Start the application →Common questions.
Other Virginia bonds.
Been told you need a different amount?
Price and requirements checked on the carrier’s application, . Page updated .
Signatory status without the paperwork delay.
$200 flat, soft pull only. Free until issued.