Illinois IBEW Local No. 150 Wage and Fringe Benefit Bond
Overview
Get bonded and stay in good standing with IBEW Local No. 150 in Illinois. This Wage and Fringe Benefit Bond guarantees that signatory contractors will pay their workers all earned wages and required fringe benefit contributions on time and in full. It protects union members from unpaid wages, missed health contributions, and shortfalls in pension or other benefit funds. Contractors who fail to meet those obligations give the union grounds to make a claim against this bond.
Who Needs This Bond?
If you are an employer who has signed a collective bargaining agreement with IBEW Local No. 150, you need this bond before you put union electricians to work on a job. It is a labor agreement requirement — not a state license — enforced directly by the local union as a condition of your signatory status. Electrical contractors operating anywhere in IBEW Local No. 150's Illinois jurisdiction who employ members under the CBA must maintain this bond continuously. Letting it lapse can halt your ability to use union labor under the agreement.
What is this Bond For?
IBEW Local No. 150 requires this bond to secure payment of wages, health and welfare contributions, pension contributions, apprenticeship fund payments, and any other fringe benefits required under the collective bargaining agreement. It acts as a financial backstop: if your company falls behind on those obligations, the union or its benefit funds can file a claim to recover what is owed. The bond does not replace your payroll — it guarantees it. Workers and their benefit funds have real recourse if you default.
When is it Required?
Renewal of your signatory status with IBEW Local No. 150 depends on keeping this bond active without gaps. Most contractors secure the bond when they first execute a collective bargaining agreement with Local No. 150, and the obligation continues for as long as you employ union members under that agreement. If the bond cancels or expires, you risk losing your ability to dispatch union workers until coverage is reinstated. Plan renewals ahead of any expiration date so your crews are never interrupted.
Where Does it Apply?
This bond applies specifically to employers working under the jurisdiction of IBEW Local No. 150 in Illinois. It is a union-mandated requirement tied to Local No. 150's collective bargaining agreement, not a statewide licensing requirement from the Illinois Department of Labor or any other state agency. Your bond must be in place for every job where you are using IBEW Local No. 150 members.
How to Buy Online
Click 'Buy This Bond Online' to open the secure surety portal in a new tab and complete your application directly. The process is straightforward — fill in your business information, bond amount, and submit. Once approved, your bond documents are issued digitally so you can deliver proof to IBEW Local No. 150 without delay.
Why Bond Titan?
Bond Titan is powered by The Southern Agency and built for contractors who need to get bonded fast without chasing down an agent. Our nationwide catalog includes union wage and fringe benefit bonds, and you can complete the entire purchase online at any hour. No callbacks, no waiting rooms — just a bond in hand so you can keep your crews working.