Illinois Chicago Journeyman Plumbers Local Union 130 Employers | $100,000 Chicago Journeyman Plumbers Local Union 130 Employers Surety Bond
Also known as: employer bond
Type of Bond
An employer's bond, also known as a wage and welfare bond or a union bond, is a type of surety bond required for certain businesses or employers who have entered into a collective bargaining agreement with a labor union. The bond serves as a financial guarantee that the employer will fulfill their contractual obligations regarding the payment of wages, benefits, and other compensation to their unionized employees, as well as adhere to the terms and conditions outlined in the agreement. The primary purpose of the bond is to protect the interests of the unionized employees by ensuring that the employer meets their financial and contractual obligations. If the employer fails to fulfill these obligations, a claim can be filed against the bond, potentially resulting in financial compensation for the affected employees or the union. To obtain and maintain an employer's bond, the employer must pay a premium, which is a percentage of the total bond amount determined by the surety company based on various factors, such as the employer's financial strength and creditworthiness.
Program
The price you'll pay for your $100,000 Chicago Journeyman Plumbers Local Union 130 Employers Bond is generally based on your personal credit score. Start a free online quote by just completing a simple app or by calling 888-518-8011. Our experts will walk you through a very simple process. Compare our quote as the very lowest price, and then you're good to go! It's that simple!
We provide all types of $100,000 Chicago Journeyman Plumbers Local Union 130 Employers Bonds. Worldwide Insurance Specialists, Inc. has "in house" underwriting authority with the largest and best Surety (Insurance) companies in the world including, Great American, Liberty Mutual, Philadelphia, Travelers, and CNA Surety. All of these surety bond companies are A-rated under the AM Best credit rating system, and T-listed with the U.S. Department of Treasury. This guarantees that by getting bonded through us, you will be provided the backing of these highly trustworthy and reliable companies.
Application
The application process for a $100,000 Chicago Journeyman Plumbers Local Union 130 Employers Bonds is easy! Many Bonds are INSTANT ISSUE! Easy Application, no underwriting, no credit check, no GIA required. Our NEW Desktop underwriting program provides you with a rapid approval process used to determine the degree of risk that you (the Principle) complete a project or obligation. Non-INSTANT ISSUE quotes can also get instantly approved. Submissions require very little information from you. Once you file and sign an indemnity agreement, we issue the Bond. It's that simple! We quote and issue Surety Bonds of every type and will help you through the entire process. These applications only require basic information about your business, bond type, and ownership structure. Once the application is complete, we submit to the insurance company (Surety) who will then issue your bond. Don't pay too much! Get your Bond Fast, and Easy with the best price! Click here to start the Chicago Journeyman Plumbers Local Union 130 Employers Bond Application process.
The Illinois Chicago Journeyman Plumbers Local Union 130 Employers Bond amount is currently set at $100,000.
Obligee Information
An obligee is the entity that is requiring you to have the Chicago Journeyman Plumbers Local Union 130 Employers bond.
Obligee: Chicago Journeyman Plumbers Local Union #130
Street: 1340 West Washington Blvd.
State: Illinois
Zip: 60607
If you or your business needs help in obtaining a surety bond or commercial insurance give us a call!