Common use of BONDING PROVISIONS FOR TRUST FUNDS Clause in Contracts

BONDING PROVISIONS FOR TRUST FUNDS. Should the Employer be adjudged by a majority of the Board of Trustees of the Cement Masons' Fringe Benefit Trust Fund to be a recurrent delinquent in the payment of fringe benefits, the Employer shall be required to post a cash or surety bond in the amount of fifteen thousand dollars ($15,000) covering fringe benefits under this Agreement. Such bond shall be deposited with a custodian designated by the parties within ten (10) days from the date of notice to the Employer of the requirement to provide the bond. Such notice must be sent with delivery confirmation. Failure to comply with this provision is a violation of this Agreement; and the provisions of the No Strikes Or Lockouts Article, shall not be applicable or in force during the period of noncompliance. Such bond shall remain posted until released by the Trustees under regulations adopted by the Trustees of the appropriate Trust Fund. The Union shall be required to furnish the Employer with a current list of those contractors who are adjudged recurrent delinquents and shall be obligated to notify the Employer of any contractor or subcontractor adjudged delinquent. Project Labor Agreement for Construction International Brotherhood of Electrical Workers Local Union No. 396 (Linemen)‌ EFFECTIVE 10/01/2020 through 09/30/2025 APPENDIX A

BONDING PROVISIONS FOR TRUST FUNDS. Should the Employer be adjudged by a majority of the Board of Trustees of the Cement Masons' xxx Xxxxxxxxxx Fringe Benefit Trust Fund to be a recurrent delinquent in the payment of fringe benefits, the Employer shall be required to post a cash or surety bond in the amount of fifteen ten thousand dollars ($15,00010,000) covering fringe benefits under this Agreement. Such bond shall be deposited with a custodian designated by the parties within ten (10) days from the date of notice to the Employer of the requirement to provide the bond. Such notice must be sent by registered mail with delivery confirmationreturn receipt. Failure to comply with this provision is a violation of this Agreement; Agreement and the provisions of the No Strikes Or Lockouts Article, Article shall not be applicable or in force during the period of noncompliance. Such bond shall remain posted until released by the Trustees under regulations adopted by the Trustees of the appropriate Trust Fund. The Union shall be required to furnish the Employer with a current list of those contractors who are adjudged recurrent delinquents and shall be obligated to notify the Employer by registered letter of any contractor or subcontractor adjudged delinquent. Project Labor Agreement for Construction Operative Plasterers and Cement Masons International Brotherhood of Electrical Workers Association, Local Union No. 396 (Linemen)‌ 797‌ EFFECTIVE 10/01/2020 through 09/30/2025 APPENDIX A

BONDING PROVISIONS FOR TRUST FUNDS. Should the Employer be adjudged by a majority of the Board of Trustees of the Cement Masons' xxx Xxxxxxxxxx Fringe Benefit Trust Fund to be a recurrent delinquent in the payment of fringe benefits, the Employer shall be required to post a cash or surety bond in the amount of fifteen ten thousand dollars ($15,00010,000) covering fringe benefits under this Agreement. Such bond shall be deposited with a custodian designated by the parties within ten (10) days from the date of notice to the Employer of the requirement to provide the bond. Such notice must be sent by registered mail with delivery confirmationreturn receipt. Failure to comply with this provision is a violation of this Agreement; Agreement and the provisions of the No Strikes Or Lockouts Article, Article shall not be applicable or in force during the period of noncompliance. Such bond shall remain posted until released by the Trustees under regulations adopted by the Trustees of the appropriate Trust Fund. The Union shall be required to furnish the Employer with a current list of those contractors who are adjudged recurrent delinquents and shall be obligated to notify the Employer by registered letter of any contractor or subcontractor adjudged delinquent. Project Labor Agreement for Construction Operative Plasterers and Cement Masons International Brotherhood of Electrical Workers Association, Local Union No. 396 (Linemen)‌ 797 EFFECTIVE 10/01/2020 through 09/30/2025 APPENDIX A

BONDING PROVISIONS FOR TRUST FUNDS. Should the Employer be adjudged by a majority of the Board of Trustees of the Cement Masons' Fringe Benefit Trust Fund to be a recurrent delinquent in the payment of fringe benefits, the Employer shall be required to post a cash or surety bond in the amount of fifteen thousand dollars ($15,000) covering fringe benefits under this Agreement. Such bond shall be deposited with a custodian designated by the parties within ten (10) days from the date of notice to the Employer of the requirement to provide the bond. Such notice must be sent with delivery confirmation. Failure to comply with this provision is a violation of this Agreement; and the provisions of the No Strikes Or Lockouts Article, shall not be applicable or in force during the period of noncompliance. Such bond shall remain posted until released by the Trustees under regulations adopted by the Trustees of the appropriate Trust Fund. The Union shall be required to furnish the Employer with a current list of those contractors who are adjudged recurrent delinquents and shall be obligated to notify the Employer of any contractor or subcontractor adjudged delinquent. Project Labor Agreement for Construction International Brotherhood of Electrical Workers Local Union No. 396 (Linemen)‌ Linemen) EFFECTIVE 10/01/2020 through 09/30/2025 APPENDIX A