Bonding Provisions. The Employers and the Local Union shall comply with all provisions under the Bonds/Letters of Credit requirements of Section 6.8, in the Local 130 Master Agreement pertaining to bonds covering monetary obligations of employers (including the "splitting" of bonds/letters of credit at percentages specified under the Master Agreement, Section 6.8 and/or dual obligee bonds under the same Section). The Local Union will respond to reasonable information requests from the Contractors Associations (PCA Midwest, Kankakee & Iroquois Counties Plumbing & Piping Contractors Association, and the West Suburban Association), including the names of employers who have posted Bonds/Letters of Credit, the amount of those Bonds/Letters of Credit and the progress of steps by the Local Union to enforce the bonding provisions of Section 6.8. The required bond/letter of credit amount is listed below for the Residential Service Agreement t: Number of Employees1 Amount of Bond 1-3 $ 21,000 4-7* $ 49,000 8-12 $ 84,000 13-18 $ 126,000 19-25 $ 175,000 26-35 $245,000 36+ $280,000 * Mandatory Bond Required for 7 or more men. Note: Mc-Me shall be included in the bonding. Self-employed owners working with the tools will be considered an employee for the purposes of bonding.
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Samples: Residential Service, Residential Service, Residential Service
Bonding Provisions. The Employers and the Local Union shall comply with all provisions under the Bonds/Letters of Credit requirements of Section 6.8, in the Local 130 Master Agreement pertaining to bonds covering monetary obligations of employers (including the "splitting" of bonds/letters of credit at percentages specified under the Master Agreement, Section 6.8 and/or dual obligee bonds under the same Section). The Local Union will respond to reasonable information requests from the Contractors Associations (PCA Midwest, Kankakee & Iroquois Counties Plumbing & Piping Contractors Association, and the West Suburban Association), including the names of employers who have posted Bonds/Letters of Credit, the amount of those Bonds/Letters of Credit and the progress of steps by the Local Union to enforce the bonding provisions of Section 6.8. The required bond/letter of credit amount is listed below for the Residential Service Agreement tSchedule A Agreement: Number of Employees1 Amount of Bond 1-3 $ 21,000 4-7* 7 $ 49,000 8-12 $ 84,000 13-18 $ 126,000 19-25 $ 175,000 26-35 $245,000 36+ $280,000 * Mandatory Bond Required for 7 or more men. Note: Mc-Me shall be included in the bonding. bonding if employees are receiving their health & welfare benefits from the Schedule A. Self-employed owners working with the tools will be considered an employee for the purposes of bonding.
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Samples: 2016 Residential Agreement