Contractors Association of Eastern Pennsylvania and Laborers' - Fringe Benefits
Competitive Rates
| Bond Amount Required | Bond Term | Annual Premium |
| Varies | 1 Year | Varies |
Contractors signatory to the Contractors Association of Eastern Pennsylvania agreement may be required to guarantee payment of union fringe benefit contributions for laborers in Eastern Pennsylvania. The CAEP and Laborers' fringe benefits bond provides financial protection for covered pension, health and other benefit contributions required under the applicable collective bargaining agreement.
Cost of the CAEP and Laborers' Fringe Benefits Bond
The cost of the CAEP and Laborers' fringe benefits bond varies based on the required bond amount. Secure this surety bond today.
How the CAEP and Laborers' Fringe Benefits Bond Works
The fringe benefits bond provides financial assurance that a bonded contractor will make covered benefit contributions according to the applicable collective bargaining agreement. It helps protect the union and its members from financial loss when required contributions are not made.
The bond involves three parties:
- Principal: Contractor or employer
- Obligee: Applicable Laborers' benefit fund or trust
- Surety: Bonding company
A claim against the bond may be filed when the bonded contractor fails to make covered fringe benefit contributions as required. The principal is responsible for repaying valid claims paid by the surety.
How to Get the CAEP and Laborers' Fringe Benefits Bond
Follow these simple steps to get bonded with NNA Surety:
- Complete this short online application.
- Pay the applicable bond premium.
- Receive the bond form via email.
- Download and file the bond as required under the applicable agreement.
Learn more about your Pennsylvania surety bond options across the state.
Get Your CAEP and Laborers' Fringe Benefits Bond
Keep your contractual fringe benefit obligations on track with the required surety bond. Complete this form or call 855-457-2196 to get bonded.