Wage and welfare bonds, also referred to as union wage bonds, are a type of surety or financial guarantee bond that a union takes out to ensure that union dues get paid in the event that a member does not pay dues. Typically, wage and welfare bonds do not have a deductible, meaning that unions [...]
Labor Union Wage & Welfare Surety Bonds are a financial guarantee product that guarantee payment of union dues and benefits for the specific local. Each union has their own specific bond form and a separate bond is required for each of them. Financial guarantee bonds are not easily written with many of today's surety companies. But, wage and welfare bonds are one [...]