Illinois Health And Welfare | $5,000 Health And Welfare Surety Bond
Also known as: health and welfare bond
Type of Bond
An Illinois Health and Welfare bond, also known as a fringe benefit bond, is a type of surety bond that ensures the proper handling and timely payment of fringe benefits by contractors and subcontractors to their employees working on public works projects. In Illinois, this bond is required to guarantee the compliance with state regulations and the Illinois Prevailing Wage Act, which mandates that workers receive appropriate fringe benefits such as health insurance, pension, and vacation pay. The bond serves as a financial assurance that contractors and subcontractors will fulfill their obligations towards their employees in terms of health and welfare benefits. If the contractor fails to provide the required benefits, a claim can be filed against the bond, offering financial protection to the affected employees. The Illinois Health and Welfare bond contributes to maintaining a fair working environment and protects the interests of workers in the state.
Program
The price you'll pay for your $5,000 Health And Welfare 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 $5,000 Health And Welfare 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 $5,000 Health And Welfare 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 Health And Welfare Bond Application process.
The Illinois Health And Welfare Bond amount is currently set at $5,000.
Obligee Information
An obligee is the entity that is requiring you to have the Health And Welfare bond.
Obligee: Illinois District Council No 1
If you or your business needs help in obtaining a surety bond or commercial insurance give us a call!