Wage and Welfare Surety Bond
A Wage and Welfare surety bond is a bond required by a union to guarantee payment of union dues and benefits by companies that contract with the union for services by its members. Typically, each union has their own language and dues or benefits being covered by the bond. Thus, a separate bond will be needed for each union a business contracts services through. If the principal fails to pay union dues for a given time period, the union can file a claim on the bond and collect their dues. Because of this a wage and welfare bond is considered strict financial guarantee surety bond and as such can be difficult to place. Since they are more difficult to write, it is better to obtain these bonds from agency that specializes in surety bonding, like Alpha Surety & Insurance Brokerage.
Alpha Surety is a nationwide surety bond broker offering simple, fast solutions for all types of surety bonding in all 50 states. We offer our customers extremely competitive pricing with multiple national carriers as well as world class support. For a free consultation about your surety bonding needs, please call 510-435-8425 or contact us. Or, to apply for a free quote, please complete our surety bond application.
