The article focuses on monitoring of wheelset binding bands condition of electric locomotives with rotary-field traction motors and, since it is a very important factor in reliability of the electric locomotive by and large, the obtained decisions are based on its results. In analysis there were examined wheelset defects of common occurrence and their natural wear during exploitation. The electric rolling stock works under complicated conditions which affect the nature of wear and electric and mechanical equipment damage. One of the main tasks is to ensure reliable operation of different machinery, as failures on track disorder the traffic schedule, distort the transportation rhythm, leading to considerable loss of throughput capacity of sections, which also reduces movement safety and results in great economic losses. Reliability evaluation is a set of measures aimed at monitoring of condition of electric locomotives, which is based on real operational particulars. By virtue of these particulars one can see an ultimately complete picture, analyze it and correct the structure of repair cycle of electric locomotive particulars. The article accentuates the analysis of risks, related to probable defects, unexpectedly high wear out, incorrect choice of repair cycle structure, ways and tools of reliability evaluation, incorrect statutory, results of incorrect measurement.