Union Bond
The union bond is another name for a wage and welfare bond, and is considered a financial guarantee commercial surety bond. The bond ensures the employers contribution to welfare funds, including payment of wages.
This bond is considered a risk, due to the nature of a financial guarantee, and therefore commands rates higher then the average bond. Though many carriers shy away for these types of bonds, Bryant Surety Bonds, Inc, through its relationships, has the ability to place this bond at a savings to you.
If you have poor credit, or are new and have no credit, you will have a difficult time being bonded. The reason for this is that bonding companies work with the assumption of zero loss and therefore shy away from risk.
There is good news though, because Bryant Surety Bonds has the solution for you; apply for our Bad Credit Surety Bond Program. This program is designed with getting you bonded in mind and is available for Union Bonds.
