New Jersey IBEW Local No. 102 Wage and Welfare Bond
Overview
Workers covered by IBEW Local No. 102 collective bargaining agreements depend on this bond to guarantee that their wages, health benefits, pension contributions, and other fringe benefits are actually paid. Contractors and employers bound by the Local 102 agreement in New Jersey must post this bond as a condition of working under that agreement. It gives the union and its members a direct financial backstop if an employer falls short on their obligations. Bond Titan makes it fast and straightforward to get covered.
Who Needs This Bond?
Electrical contractors and signatory employers who have entered into a collective bargaining agreement with IBEW Local No. 102 in New Jersey need this bond. If your company employs electricians or related trade workers represented by Local 102, you are the principal on this bond. It is required of you as part of your obligations to the union — not a state agency license requirement, but a direct contractual obligation to the local. Any employer activating or renewing their signatory status with Local 102 should secure this bond before workers take the field.
What is this Bond For?
This bond protects IBEW Local No. 102 members by ensuring their employer fulfills wage and welfare obligations under the collective bargaining agreement. If an employer fails to remit wages, health and welfare contributions, pension payments, vacation pay, or other fringe benefit fund contributions on time and in full, the bond provides a source of recovery. The union or its benefit funds can make a claim against the bond to recover what workers are rightfully owed. It holds signatory contractors financially accountable beyond just their word.
When is it Required?
Signing or renewing a collective bargaining agreement with IBEW Local No. 102 in New Jersey is the moment this bond becomes mandatory. Before you can legally employ Local 102 members on a job site, the bond must already be in force. Many contractors discover this requirement when they submit their signatory paperwork and the union requests proof of bonding before approving the agreement. Do not wait until a project start date — get the bond in place as part of your initial agreement process.
Where Does it Apply?
This bond applies statewide across New Jersey wherever IBEW Local No. 102 has jurisdiction under its collective bargaining agreements. It is not a municipal or county permit — it is a labor-agreement requirement that travels with your workforce wherever Local 102 members work in the state. Any job site in New Jersey where you deploy Local 102-represented workers falls under this bond's coverage.
How to Buy Online
Click 'Buy This Bond Online' and the secure surety portal will open in a new tab where you can complete your application and get your bond issued quickly. You will enter your business and agreement details, and once approved, your bond documents are issued digitally. No waiting for an agent callback — the process is designed to get you bonded and back to work.
Why Bond Titan?
Bond Titan is powered by The Southern Agency and built for business owners who need a bond now, not next week. Our nationwide catalog includes union wage and welfare bonds like this one, and the online platform lets you buy without picking up a phone. Fast, direct, and backed by real surety expertise.