Failure to Post Bond Clause Samples
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Failure to Post Bond. In the event of the Company’s failure to post the appropriate Performance Bond and/or sign the appropriate Collective Agreements, the Union and its Members are under no obligation to provide services to the Company and the Union is under no obligation to avert any work stoppages.
Failure to Post Bond. If any Employer who is required to post a bond under this Section 95 fails to do so prior to the commencement of work (in the case of a "New Employer") said Employer must post bond when first fringe benefit payment is due, but in no case shall bond be posted more than thirty (30) days after the commencement of work.
1) If within five (5) days of a written demand for any Individual Employer to post bond, it shall not be a violation of this Agreement for the Union to withdraw and withhold employees of that Individual Employer until the bond is posted and the Individual Employer shall be liable to any employees withdrawn for that reason for the wages and fringe benefits lost, up to a maximum of sixteen (16) working hours.
2) If a Delinquent Employer is not able to obtain a bond due to delinquency, or at the discretion of the Board of Directors, once said Employer is current in principal contributions; the Bond requirement will be reinstated.
3) If a Delinquent Employer is not able to obtain a bond due to delinquency, no contributions to the Credit Union, HRA or the NCPT Supplemental 401(k) Retirement Plan will be allowed above the mandatory amounts, or as directed by the Board of Directors.
Failure to Post Bond. If any Individual Employer who is required to post a bond under this Section 96 fails to do so prior to the commencement of work (in the case of a "New Employer") said Individual Employer must post bond when first fringe benefit payment is due, but in no case shall bond be posted more than thirty