New Jersey IBEW Local No. 102 Wage & Benefit Bond
Overview
Electrical contractors working under IBEW Local No. 102 in New Jersey are required to post this Wage & Benefit Bond before they can employ union members on covered projects. It guarantees that workers will receive every dollar of wages and every benefit contribution owed under the collective bargaining agreement. IBEW Local No. 102 holds this bond as the obligee, giving the union direct recourse if an employer falls short. Bond Titan makes it fast and straightforward to get bonded so your crews can get to work.
Who Needs This Bond?
Your shop has signed a collective bargaining agreement with IBEW Local No. 102, and the union is now requiring a bond before your electricians can start work on a covered job. This bond is specifically for electrical contractors — and any employer signatory to an IBEW Local No. 102 agreement — operating anywhere in New Jersey. If you've been handed a requirement letter or a signatory agreement that references a Wage & Benefit Bond, this is the bond you need. Non-union shops that become signatories also fall squarely under this requirement.
What is this Bond For?
IBEW Local No. 102 uses this bond to protect its members' earned wages and benefit fund contributions — things like health coverage, pension contributions, and annuity payments owed under the CBA. If your company fails to pay those obligations, the union can make a claim against the bond to recover what members are owed. This is not a performance bond for project owners — it exists solely to back up your financial obligations to the workers and the benefit funds administered by Local No. 102. It's the union's financial safety net, and it's your obligation as a signatory employer to provide it.
When is it Required?
Before a single IBEW Local No. 102 member can be dispatched to your payroll, this bond must already be in place. The union will not allow covered workers on your jobs until the bond is posted and confirmed. Many contractors discover this requirement at the moment they execute their signatory agreement — don't let a missing bond delay your project start date. Get bonded now so there's no gap between signing and putting your crew to work.
Where Does it Apply?
This bond covers your obligations as an employer signatory to IBEW Local No. 102, which represents members working across New Jersey. It applies wherever you dispatch Local No. 102 members within the union's jurisdiction. No individual municipality issues or enforces this bond — the obligation runs directly to IBEW Local No. 102 and its affiliated benefit funds.
How to Buy Online
Click 'Buy This Bond Online' on this page and you'll be taken directly into the secure surety portal in a new tab. Complete the application, and your bond documents are processed through Bond Titan's platform without waiting on an agent callback. Once issued, you'll have the documentation IBEW Local No. 102 needs to confirm your bond is in force.
Why Bond Titan?
Bond Titan is powered by The Southern Agency and built for contractors who need to get bonded without delays. Our nationwide catalog includes union wage and benefit bonds like this one, so you're not hunting for a specialist or waiting days for a quote. Fast, online, straightforward — that's how surety bonding should work.