The Associated General Contractors of DC (AGC of DC) has settled with the DC Carpenters. The agreement is two years.

Agreement Overview:

Year 1: wage freeze with no increases
Year 2: $.81 to be allocated by the union

Language changes include fringe benefit bond language that says each employer is to deliver a payment bond for $30,000. A pre-approved irrevocable letter of credit may be accepted in lieu of a bond.