Wage & Hour Wage Bond
The Wage Payment and Collection Act (ß 21-5) requires that every employer, person, firm or corporation engaged in or about to engage in construction work, or the severance, production or transportation of minerals, shall furnish a bond to protect the wages and benefits of their employees before engaging in these activities. This Bond must be on a form prescribed by the Labor Commissioner, payable to the State of West Virginia, with the condition that they must pay the wages and fringe benefits of their employees when due.
The amount of the bond shall be equal to the total of the employer’s gross payroll for four weeks at full capacity or production, plus fifteen percent of the employer’s gross payroll for four weeks at full capacity or production.
Those who have been in business in West Virginia more than five consecutive years are exempted from this requirement, as are the railroads and water transporters of minerals.
There are four (4) types of bonding accepted:.