Illinois Chicago Journeyman Plumbers Local Union 130 Wage Funds | Chicago Journeyman Plumbers Local Union 130 Wage Funds Surety Bond
Also known as: wage bond
Type of Bond
An Illinois plumber local union wage fund bond is a type of surety bond required in Illinois for contractors or businesses engaged in plumbing services and affiliated with a local union. It serves as a financial guarantee that the contractor will contribute to the union's wage fund and pay the appropriate wages and benefits to their unionized plumbers as specified by collective bargaining agreements and labor regulations. The bond involves three parties: the principal (the contractor or business), the obligee (the local union or labor organization), and the surety company. By obtaining the bond, the contractor assures that they will fulfill their contractual obligations to their employees, including paying the agreed-upon wages, overtime, and benefits outlined in the union labor agreement and contributing to the union's wage fund. If the contractor fails to meet their wage obligations or neglects to make the required contributions to the union's wage fund, a claim can be made against the bond. The obligee or affected employees can seek financial compensation from the bond up to its specified amount to recover unpaid wages, benefits, or address other wage-related grievances. The Illinois plumber local union wage fund bond helps protect the rights and interests of unionized plumbers by ensuring that they receive fair compensation for their work and that the contractor fulfills their obligations as set forth by the labor agreement. It promotes compliance with labor regulations, upholds industry standards, and provides financial security for employees in cases where wage obligations are not met by the contractor or business.
Program
The price you'll pay for your Chicago Journeyman Plumbers Local Union 130 Wage Funds 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 Chicago Journeyman Plumbers Local Union 130 Wage Funds 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 Chicago Journeyman Plumbers Local Union 130 Wage Funds 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 Wage Funds Bond Application process.
Obligee Information
An obligee is the entity that is requiring you to have the Chicago Journeyman Plumbers Local Union 130 Wage Funds 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!