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.
20.2 In the event an Employer fails at any time to secure, maintain, renew or otherwise keep the Bond in full force and effect, in accordance with this Article, a written notice (“Bond 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 five (5) business days from the date of receipt of the written Bond Notice. The Bond Notice may be provided to the Employer by the Union, the Third-Party Administrator and/or the Trust Funds. If an Employer fails to remedy the violation within five (5) working days following receipt of the Bond Notice, said Employer shall be deemed in default of this Article. The Union shall then be free (notwithstanding the express “no strike” clause of Section 15.1 in this Agreement) to remove employees from and take other economic action against the Employer. Any employees removed from a job by the Union shall not be subject to discipline by the Employer, and, in addition, the employees so removed shall be entitled to receive eight (8) hours pay at their regular wage rate, including the fringe benefits listed in this Article, for every workday lost. The Trust Funds may initiate a lawsuit to enforce this Article and shall be entitled to recover from the Employer its reasonable attorney’s fees and court costs.
20.3 Nothing in this Article shall limit the Trustees of the various Trust Funds defined in this Agreement (Section 19.1) from requiring an Employer who is delinquent in the payment of contributions from furnishing the Trust Funds with any additional Bond(s) as they deem appropriate to secure the Employer’s contribution payment obligations under the circumstances.
20.4 This Article is not subject to Article 21(“Dispute-Settlement & Arbitration”).
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.
20.2 In the event an Employer fails at any time to secure, maintain, renew or otherwise keep the Bond in full force and effect, in accordance with this Article, a written notice (“Bond 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 five
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. (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.
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.
(b) The Union shall have the responsibility of monitoring the number of workers of an Employer to insure compliance with this provision.
(c) 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 the provisions of section 4.02
(a) the Union and NECA shall immediately provide the Employer with a written notice in accordance with Section 4.08.
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 to 10 workers $10,000 bond $20,000 bond 11 to 25 workers $20,000 bond $40,000 bond 26 to 50 workers $50,000 bond $75,000 bond 51 or more workers $100,000 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 Employer’s total number of bargaining unit employees will dictate the appropriate bond level as specified above.
(b) The Union shall have the responsibility of monitoring the number of workers of an Employer to insure compliance with this provision.
(c) 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 the provisions of section 4.02
(a) the Union and NECA shall immediately provide the Employer with a written notice in accordance with Section 4.08.
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. 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. 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
