Tennessee IBEW Local No. 474 Wage and Welfare Bond
Overview
Signing a collective bargaining agreement with IBEW Local No. 474 in Tennessee comes with a financial guarantee requirement — this bond is it. Contractors and employers covered under the Local 474 agreement must post a Wage and Welfare Bond to protect union members' earned wages and fringe benefit contributions. If you fail to pay what you owe, the bond stands behind those obligations. It is a prerequisite to working under the Local 474 agreement, not optional.
Who Needs This Bond?
Electrical contractors and employers who have entered into a collective bargaining agreement with IBEW Local No. 474 in Tennessee need this bond. You are typically a construction or electrical contracting business that employs union electricians represented by Local 474. If your agreement with the union requires you to post a wage and welfare bond, this is the specific instrument that satisfies that requirement. No agreement compliance without it.
What is this Bond For?
IBEW Local No. 474 is the obligee — meaning the union and its benefit funds are the protected party under this bond. The bond guarantees that covered employers will pay workers their contractually required wages and remit all fringe benefit contributions on time. Those contributions typically include health, pension, and other welfare fund payments spelled out in the collective bargaining agreement. A claim can be filed against the bond if an employer defaults on those payment obligations.
When is it Required?
Entering into or renewing a collective bargaining agreement with IBEW Local No. 474 is the moment this bond becomes mandatory. You cannot begin employing Local 474 members on a union job in Tennessee without the bond already in place. The union requires proof of the bond before you put workers on the job. Delays in obtaining it can stall your project start date.
Where Does it Apply?
This bond is specific to employers operating under the jurisdiction of IBEW Local No. 474 in Tennessee. It is tied to the union's collective bargaining agreement, not a state license or government permit. The bond's reach follows wherever Local 474's agreement governs your workforce in the state.
How to Buy Online
Click 'Buy This Bond Online' to open the secure surety portal in a new tab — that is where you complete your application and purchase the bond. Have your business information and details about your agreement with IBEW Local No. 474 ready before you start. The process is fully online, so there is no agent callback required and no paperwork to mail.
Why Bond Titan?
Bond Titan is powered by The Southern Agency and built for business owners who need a bond today, not next week. Our nationwide catalog includes labor and employment bonds like this one, available through a fast online checkout — no waiting on a broker to return your call. Get your Tennessee IBEW Local No. 474 Wage and Welfare Bond processed and on its way without the usual back-and-forth.