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Wage and Welfare Bonds

These bonds are also known by the name of union bonds. This is because local unions require that their members hold the bonds to ensure they pay their union dues. Because of this it is regarded as a financial guarantee bond.

The current market

Financial guarantee bonds of any type are normally very difficult to place. This is due to the much higher risk associated with all financial guarantee bonds. However we have connections with several surety bond issuers who are willing to provide wage and welfare bonds.

Does your agency have a special program available for wage and welfare bonds?

We do provide special programs for those principals who do not have a good credit record. However it should be noted that such programs incur a much higher premium than the standard bond markets for this bond.

 
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