New Jersey IBEW Local No. 490 Wages, Welfare and Fringe Benefits Bond
Overview
Get bonded and demonstrate to IBEW Local No. 490 that you will meet every wage, welfare, and fringe benefit obligation owed to union workers under your collective bargaining agreement. This bond backs up your financial commitment to the local — covering wages, health and welfare contributions, pension, and any other fringe benefits spelled out in your agreement. Contractors and employers working under Local 490's jurisdiction in New Jersey need this protection in place before they can operate under the union agreement.
Who Needs This Bond?
Electrical contractors and signatory employers who have signed a collective bargaining agreement with IBEW Local No. 490 in New Jersey are the principals on this bond. If you employ electricians or related tradespeople represented by Local 490 and your CBA requires a bond, this applies directly to you. It does not matter whether you are a large regional contractor or a small electrical shop — if Local 490 requires it, you must have it.
What is this Bond For?
IBEW Local No. 490 requires this bond to guarantee that signatory employers actually pay the wages, welfare contributions, pension contributions, and other fringe benefits that are contractually owed to covered workers. If an employer fails to make those payments, the bond gives the union or its affiliated benefit funds a mechanism to recover the unpaid amounts. Workers should not have to chase down money they have already earned.
When is it Required?
Signing or renewing a collective bargaining agreement with IBEW Local No. 490 is the moment this bond becomes mandatory. Local 490 will not allow an employer to operate under the agreement — or to dispatch union electricians to job sites — without the bond in place and in good standing. If you are about to execute a new CBA or your existing bond has lapsed, you need to act before work begins.
Where Does it Apply?
This bond is specific to employers operating under IBEW Local No. 490's jurisdiction in New Jersey. It is not a state-issued license bond — it is a union-required bond tied directly to your Local 490 collective bargaining agreement. Work performed under a different IBEW local's agreement requires a separate bond for that local.
How to Buy Online
Click 'Buy This Bond Online' and you will be taken directly into the secure surety portal in a new tab, where you can complete your application and purchase this bond quickly. The process is straightforward — enter your business information, submit, and get your bond documents. No waiting on an agent callback.
Why Bond Titan?
Bond Titan is powered by The Southern Agency and gives you fast online access to a nationwide catalog of surety bonds, including niche union labor bonds like this one. You do not need to track down a local agent or wait days for a quote — just buy it online and move forward. We built this storefront so bonding gets out of your way and you can focus on getting to work.