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Oklahoma Wage and Welfare Bonds


What is an Oklahoma Wage and Welfare Bond?

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.

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