Illinois Cement Masons' Union Local No. 502 Wages and Fringe Benefits Bond
Overview
Workers covered by the Cement Masons' Union Local No. 502 collective bargaining agreement in Illinois deserve a financial guarantee that their wages and fringe benefits will actually be paid. This surety bond provides exactly that — a binding commitment from the bonded contractor to fulfill every wage and benefit obligation owed to union members. If those obligations go unmet, the bond stands behind the workers and their union, giving them a direct path to recovery. Bond Titan makes it fast to get bonded so your project timeline stays on track.
Who Needs This Bond?
Contractors and subcontractors performing work under the Illinois Cement Masons' Union Local No. 502 collective bargaining agreement need this bond. If your company employs cement masons covered by Local 502 and you've been asked by the union or a general contractor to post this bond, you are the principal. It is a condition of being permitted to work union jobs under Local 502's jurisdiction, not a general state licensing requirement. Any signatory contractor that cannot demonstrate financial standing through other means may be required to provide this bond before work begins.
What is this Bond For?
Cement masons earn wages and accumulate fringe benefits — health coverage, pension contributions, vacation pay, and other negotiated benefits — on every union job. This bond guarantees that those earnings and contributions are paid in full to the workers and to the applicable benefit funds. Local 502 is the obligee: the party that holds the bond and can make a claim if a contractor fails to pay. The bond is not a payment bond for material suppliers — it is specifically designed to protect the labor side of the agreement.
When is it Required?
Signing or operating under the Cement Masons' Union Local No. 502 collective bargaining agreement in Illinois is the moment this bond becomes mandatory. The union may require it upon execution of the agreement, upon renewal, or when a contractor's payment history raises concerns about reliability. General contractors may also require proof of this bond before allowing a subcontractor to mobilize on a union jobsite. Do not wait until work has already started — the bond must be in place before your workers begin earning wages under the agreement.
Where Does it Apply?
This bond applies statewide throughout Illinois wherever Cement Masons' Union Local No. 502 has jurisdiction. It is a union-specific requirement governed by the collective bargaining agreement, not a state agency regulation. Any jobsite in Illinois where Local 502 members are employed under the CBA falls within the scope of this bond.
How to Buy Online
Click 'Buy This Bond Online' on this page and you'll be taken directly to the secure surety portal in a new tab. Enter your business details, the required bond amount, and submit — the process is straightforward and built for speed. Once approved, your bond documents are delivered digitally so you can provide proof to Local 502 or your general contractor without delay.
Why Bond Titan?
Bond Titan is powered by The Southern Agency and built for business owners who need to get bonded without waiting on an agent callback. Our online catalog covers bonds nationwide, including labor and wage bonds specific to union agreements like this one. Buy online, get your documents fast, and get back to running your jobs.