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Illinois Wage and Welfare Bond

Illinois Wage and Welfare Bond

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Who Requires the Wage and Welfare Bond and Why Is It Needed?

Wage and Welfare Bonds (also known as Union Wage Bonds, Fringe Benefit Bonds, or Welfare Fund Bonds) generally provide a guarantee that union dues will be paid and contractual obligations are met on behalf of the employees. The bond effectively ensures a unionized business meets its contractual labor obligations. Wage and welfare bonds are typically written at a local level. These bonds are considered high risk by insurers and require more extensive underwriting.

How Much Will My Surety Bond Cost?

Take 2 minutes to provide the basic information required to get the best rates for your Illinois Wage and Welfare Bond. The quote request is free and there is no obligation to you. If you prefer, please call 1‐800‐608‐9950 to speak with one of our friendly bond experts. We can help guide you through the bonding process and identify the lowest cost in the market for your situation.

If you are interested in spreading out the cost of your bond over time, we can offer convenient financing plans for many types of surety bonds. More information will be provided with your quote.

List of Illinois surety bonds.

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