Wage and Fringe Benefit ($100,000) Bond - Association of Reinforcing Iron Workers in District of Columbia
Table of Contents
Brief Summary
This $100,000 bond is what the Association of Reinforcing Iron Workers asks for before it relies on a contractor to pay its members and send in their benefit contributions. You pay a premium instead of tying up $100,000 in cash, and the association gets a surety standing behind your payroll promises.
The Wage and Fringe Benefit Bond in the amount of $100,000 is posted by a contractor in favor of the Association of Reinforcing Iron Workers in the District of Columbia. It guarantees that the contractor pays the wages and fringe benefit contributions it owes for reinforcing iron work. The requirement comes from the association, not from a District agency.
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How to Apply for a Wage and Fringe Benefit ($100,000) Bond:
- Ask the Association of Reinforcing Iron Workers for its required bond form and exact obligee name.
- Confirm the $100,000 amount with the association.
- Have the contractor's legal business name exactly as it appears on its agreement with the association.
- Complete the bond application and review the quoted premium.
- Pay the premium and receive the executed bond.
- Deliver the original bond to the association as it directs.
Detailed Information About the District of Columbia Wage and Fringe Benefit ($100,000) Bond:
This is a union bond, not a license bond
The most common mistake is assuming a District of Columbia agency sets this requirement. It does not. The obligee is the Association of Reinforcing Iron Workers, and the bond answers to the association. That means the exact wording, the form and the filing steps come from the association and its agreement with the contractor. Get those details from the association before the bond is issued.
What the bond guarantees
A wage and fringe benefit bond protects workers and the benefit funds that serve them. If a contractor fails to pay wages or to remit the fringe benefit contributions it owes, the association can make a claim on the bond, up to the $100,000 bond amount. The surety pays a valid claim and then recovers that amount from the contractor. The bond is a guarantee of the contractor's payments, not insurance for the contractor.
Who posts it
The contractor whose reinforcing iron workers are covered by the association posts the bond. The business name on the bond should match the name on the contractor's agreement with the association exactly.
Before you buy
Ask the association for its required bond form, the exact obligee name to show on the bond, and where the original should be sent. Having those in hand avoids a reissue.
Eligibility and Requirements for a District of Columbia Wage and Fringe Benefit ($100,000) Bond:
- Association of Reinforcing Iron Workers named as obligee.
- Bond amount of $100,000.
- Contractor name on the bond matching its agreement with the association.
- Owner credit and financial review by the surety, which shapes the premium.
District of Columbia Wage and Fringe Benefit ($100,000) Bond FAQs:
The obligee is the Association of Reinforcing Iron Workers, a labor association. The requirement and its terms come from the association, so contact it directly for the form and filing steps.
It guarantees the contractor pays the wages and fringe benefit contributions it owes for covered reinforcing iron work, up to $100,000.
You pay a premium, not the full $100,000. The surety sets it after reviewing the owner's credit, the company's finances and its payroll history. Apply to see your exact quote.
No. The surety pays a valid claim and then recovers that amount from the contractor.
