To ensure payment of employee benefits, all employers signatory to an IBEW-NECA construction agreement must provide a $20,000 surety bond.  The bond may be purchased from the insurance or brokerage firm of your choice; however, it may not be canceled without the Trust Funds approval and proof of the bond must be on file at the Administrative Office of the Trust Funds. 

The bond requirement may be waived after the employer completes a continuous 12 month period throughout which there were employees and each of the monthly reports and payments were received promptly.   If an employer had their bonding requirement waived and is subsequently delinquent, the employer must then provide a bond equivalent to 3 months contributions.

Please see your bargaining agreement for details on bonding requirements.  Click here to download the Proof of Bonding form.