FRINGE BENEFIT BOND. 20.1 Any Employer that becomes delinquent in payment of the employee benefit contributions listed under this Collective Bargaining Agreement must post a fringe benefit bond (“Bond’) in the greater amount of twenty-five thousand dollar ($25,000), or the sum of the contribution amount of the highest three (3) months out of the twelve months preceding the month they first went delinquent, with the Trust Funds’ Third Party Administrator. The Bond shall be expressly payable to the Trust Funds and shall remain in full force and effect for the life of the Agreement and any extension, renewals or replacements thereof.
FRINGE BENEFIT BOND. Effective January 1, 2006, Employers performing work covered by this Agreement shall be required to post a twenty-five thousand dollar ($25,000) fringe benefit bond with the administrative agent for the Northwest Ironworkers Trust Funds to ensure payment of delinquent contributions, liquidated damages, costs of suit, and attorney fees to all of the Northwest Ironworkers Trust Funds to which Employers are required to contribute by the terms of this Agreement. In the event an Employer fails at any time to secure, maintain, renew, or otherwise keep in full force and effect a fringe benefit bond in accordance with this Section, a written notice shall be provided stating that the Employer is in violation of this Agreement and demanding that the Employer obtain and produce satisfactory evidence documenting the existence of a suitable bond within forty-eight
FRINGE BENEFIT BOND. Employers shall be required to post a fringe benefit bond with the Administrative Agent of the Puget Sound Electrical Workers Trust Funds to insure the timely payment of delinquent contributions, liquidated damages, cost of suit, attorney fees payable to all fringe benefit funds, to which Employers are required to contribute by the terms of this Agreement, in accordance with the chart below. 1 to 10 workers $10,000 bond $20,000 bond 11-25 workers $20,000 bond $40,000 bond 26-50 workers $50,000 bond $75,000 bond 51 or more workers $100,00 bond $150,000 bond The Parties agree to establish one bond, as specified above, to cover employees working under all construction agreements through a Letter of Understanding. Contractor bond levels will be reviewed on a quarterly basis by the Trust Funds’ Third-Party Administrator. An Employers’ total number of bargaining unit employees will dictate the appropriate bond level as specified above.
FRINGE BENEFIT BOND. (a) Employers shall be required to post a fringe benefit bond with the Administrative Agent of the Puget Sound Electrical Workers Trust Funds to insure the timely payment of delinquent contributions, liquidated damages, cost of suit, attorney fees payable to all fringe benefit funds, to which Employers are required to contribute by the terms of this Agreement, in accordance with the chart below. Effective 1/1/2022 1/1/2026 1 to 10 workers $10,000 $20,000 bond $20,000 bond $30,000 11 to 25 workers $20,000 $40,000 bond $40,000 bond $50,000 26 to 50 workers $50,000 $75,000 bond $75,000 bond $100,000 51 or more workers $100,000 $150,000 bond $150,000 bond $200,000 The Parties agree to establish one bond, as specified above, to cover employees working under all construction agreements through a Letter of Understanding. Contractor bond levels will be reviewed on a quarterly basis by the Trust Funds’ Third Party Administrator. An Employer’s total number of bargaining unit employees will dictate the appropriate bond level as specified above.
FRINGE BENEFIT BOND. (a) Employers shall be required to post a fringe benefit bond with the Administrative Agent of the Puget Sound Electrical Workers Trust Funds to insure the timely payment of delinquent contributions, liquidated damages, cost of suit, attorney fees payable to all fringe benefit funds, to which Employers are required to contribute by the terms of this Agreement, in accordance with the chart below. 1 to 10 workers $10,000 bond 11 to 25 workers $20,000 bond 26 to 50 workers $50,000 bond 51 or more workers $100,000 bond The Parties agree to establish one bond, as specified above, to cover employees working under all construction agreements through a Letter of Understanding. Contractor bond levels will be reviewed on a quarterly basis by the Trust Funds’ Third Party Administrator. An Employer’s total number of bargaining unit employees will dictate the appropriate bond level as specified above.
FRINGE BENEFIT BOND. Any employer not signatory to the Inside Construction Agreement shall be required to post a $20,000.00 Fringe Benefit Bond. This Bond would be required to meet the same terms and conditions as stated in Article IV of the Inside Construction Agreement.
FRINGE BENEFIT BOND. 19.1 Any Employer that becomes delinquent in payment of the employee benefit contributions listed under this Collective Bargaining Agreement must post a twenty- five thousand-dollar ($25,000) fringe benefit bond (“Bond”) with the Trust Funds’ Third-Party Administrator. The Bond shall be expressly payable to the Trust Funds and shall remain in full force and effect for the life of the Agreement and any extension, renewals, or replacements thereof.
FRINGE BENEFIT BOND. Employers shall be required to post a fringe benefit bond with the Administrative Agent of the Puget Sound Electrical Workers Trust Funds to insure the timely payment of delinquent contributions, liquidated damages, cost of suit, attorney fees payable to all fringe benefit funds, to which Employers are required to contribute by the terms of this Agreement, in accordance with the chart below. 1 to 10 workers $10,000 bond 11 to 25 workers $20,000 bond 26 to 50 workers $50,000 bond 51 or more workers $100,000 bond
