Bonding of Employers. The Union shall not furnish laborers to any Employer, until such Employer has previously delivered to the Laborers’ Welfare Fund security for the timely and full payment of wages, fringe benefits and contributions provided herein. Said security shall be kept in full force and effect for the entire term of this Agreement unless the Employer ceases to perform any work under this Collective Bargaining Agreement. This security, in the discretion of the Employer, shall be in one of the following three (3) forms:
Bonding of Employers. (a) All Employers shall simultaneously, with the execution of a Letter of Assent to this Agreement, post a Surety Bond in the amount indicated in the schedule below, to assure payment of wages and contributions due to the various trust funds set forth in ARTICLES II, III, V, VI, and VII of this Agreement. Surety Bond provided for above shall be in accordance with the following schedule: 1 to 5 employees – $30,000 6 to 10 employees – $40,000 11 to 15 employees – $50,000 16 to 25 employees – $60,000 26 to 50 employees – $70,000 Over 50 employees – $80,000 All bonds shall terminate or be reissued as required January 1 of each year, and the chapter shall receive a copy of all bonds issued to the local union. A Surety Bond, as required above, must be filed with the Local Union #702, IBEW before workmen are dispatched in accordance with the terms of ARTICLE IV of this Agreement.
Bonding of Employers. All employers or T-M-T contractors who employ members of the I.U. of BAC shall be required to register with the Local Union and will present to the Union the following information in good order and up to date prior to entering this jurisdiction:
Bonding of Employers. 18.1 Contractors and subcontractors shall comply with the bonding requirements as set forth in the individual union’s collective bargaining agreement.
