DELINQUENT REMITTANCES. (a) When remittances in accordance with Articles 17 and 19 are over 10 days in arrears, the employer shall pay to the Trustees and/or to the Employer Association in the case of Employer Industry, Training and Development Funds, as liquidated damages and not as a penalty, an amount equal to 5% per month, or portion thereof up to 60% per annum of such delinquent contributions, unless the Employer has corrected such delinquencies within 5 days of being given written notice.
DELINQUENT REMITTANCES. Penalties When remittances in accordance with Articles l7 and l9 are over ten (l0) days in arrears, the Employer shall pay to the Trustees, as liquidated damages and not as a penalty, an amount equal to two (2) percent per month, or portion thereof up to twenty-four (24) percent per annum of such delinquent contributions, unless the Employer has corrected such delinquency within five (5) days of being given written notice. In addition, the delinquent employer shall be required to pay all costs of collection of such liquidated damages and may be required, upon request of the Trustees, to deposit with the Trustees a Cash Deposit, Irrevocable Letter of Credit or Equivalent Acceptable Security to a maximum of Ten Thousand ($10,000.00) Dollars. Should a delinquent Employer refuse to pay the penalty herein provided, it is agreed the Employees of such delinquent Employer may refuse to work for such Employer until the Employer has complied with all obligations regarding remittances and / or penalties. Refusal to work by Employees shall not be a violation of this agreement or an unlawful stoppage of work within the provisions of the Ontario Labour Relations Act, and the Employer shall not institute or commence any applications, actions or proceedings of any nature whatsoever under the Ontario Labour Relations Act, this Agreement or otherwise against the Union or any of its Officers, Officials, Servants, Employees, Agents or Members in connection with any such refusal to work. MIECO and the “Union” recognize the need to enforce timely contributions to the various trust funds established by the terms of the Provincial Bricklayers Agreement. Therefore, the parties agree to establish a joint committee to recommend to the parties changes to Article 20, Delinquent Remittances-Penalties of the Provincial Agreement. The committee shall make its recommendations to the parties within 90 days of ratification.
DELINQUENT REMITTANCES. Penalties When remittances in accordance with Articles l7 and l9 are over ten (l0) days in arrears, the Employer shall pay to the Trustees, as liquidated damages and not as a penalty, an amount equal to two
