The wage and welfare bond is a tough financial guarantee the guarantees not only the payment of wages but the print benefits of employees typically in construction operations. The obligee of the bond is the union governing the trade associated with the labor. In the past these bonds have been a source of loss for the sureties as a whole. However, these bonds are written for well qualified applicants. The premium in the standard market will range from 2% to 5%. These bonds can be written up $25,000 on the strength of a personal credit report and a signed application. For bonds larger than $25,000 business and personal financial statements will be required by the underwriter.