IBEW Local No. 551 Wage and Fringe Benefits Bond
Bond Amount and Premium Vary
| Bond Amount Required | Bond Term | Annual Premium |
| Varies | 1 Year | Varies |
Electrical contractors working under an applicable IBEW Local No. 551 agreement may be required to secure a wage and fringe benefits bond. Required by IBEW Local No. 551 or the applicable benefit fund, the bond helps guarantee payment of covered wages and fringe benefit contributions.
Cost of the IBEW Local No. 551 Wage and Fringe Benefits Bond
The cost of the IBEW Local No. 551 wage and fringe benefits bond varies based on the required bond amount and underwriting. Apply online for your bond today.
How the IBEW Local No. 551 Wage and Fringe Benefits Bond Works
The IBEW Local No. 551 wage and fringe benefits bond helps protect covered employees and benefit funds by guaranteeing an employer’s covered wage and fringe benefit payment obligations.
The bond involves three parties:
Principal: Contractor or employer required to post the bond
Obligee: IBEW Local No. 551 or applicable benefit fund
Surety: Bonding company
A claim against the bond may be filed when the principal fails to meet covered wage or fringe benefit obligations. The principal is responsible for reimbursing the surety for valid covered claims paid under the bond.
How to Get the IBEW Local No. 551 Wage and 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 your IBEW Local No. 551 agreement.
Learn more about your California surety bond options across the state.
Get Your IBEW Local No. 551 Wage and Fringe Benefits Bond
Meet your bonding obligation with a bond designed for applicable wage and fringe benefit requirements. Complete this form or call 855-457-2196 to get bonded.