Fringe Benefits/Benefits & Wages

[Bond Magician]

I need to obtain a Wage & Welfare bond. What is the difference between Fringe Benefit and Benefit and Wages? Is one more expensive than the other?

[Surety Queen]

Originally Posted by Bond Magician

I need to obtain a Wage & Welfare bond. What is the difference between Fringe Benefit and Benefit and Wages? Is one more expensive than the other?

There could be different pricing depending upon what your Wage & Welfare bond covers. Benefit and Wage coverage takes care of both the union benefits AND the wages - assuring that the Principal makes the required payments to the funds and pays the union members their wages. A benefit bond would only cover the pension plans and other benefits.
Hope that makes sense.