Union Bonds, aka salary and Welfare Bonds, may be a difficult vicinity for contractors, sellers and bonding groups. However we like to suppose there's something there to like. We are able to explain... The Hating For contractors, that is frequently their first brush with the wonderfully playful world of surety bonds. Perhaps the contractor is centered on mild business work, or is solely a subcontractor, so bid and overall performance bonds have by no means been needed. The contractor desires to get employees from the union corridor so a new contract can start on time. Abruptly this road block appears: "A $50,000 surety bond is needed." alas, the contractor learns that economic statements are wished - however they are now not without delay available. And there are economic electricity requirements, which the contractor might also need meet, soooo... ! For bonding groups, you would possibly assume that if they get paid their premium, they have to be perfectly glad to troubl...