Guarantee scheme Clause Samples
A guarantee scheme clause establishes a mechanism by which a third party, often a guarantor, promises to fulfill certain obligations if the primary party fails to do so. In practice, this clause typically applies to financial commitments, such as loan repayments or contract performance, where the guarantor steps in to cover losses or complete obligations on behalf of the defaulting party. The core function of a guarantee scheme is to provide assurance and reduce risk for the beneficiary, ensuring that contractual obligations are met even if the original party cannot perform.
Guarantee scheme. DIO I shall issue the usual guarantee for the presence of the money, including for any holidays transferred.
Guarantee scheme. The guarantee scheme is based on the Rabobank Severance Payment which applies to employees who became redundant on or after January 1, 2017 and whose employment terminated on December 31, 2017 at the latest due to redundancy. The amount that an employee to whom this social plan applies receives on termination of the employment due to redundancy is never lower than 75% of the Rabobank Severance Payment (on the basis of the number of years of service and age on 1 January 2018). The guarantee scheme is also capped. The guarantee amount will never exceed the income that the employee would have earned if he had continued to work until the state pension age applicable to him (based on the last-earned gross monthly salary). The Rabobank Severance Payment is calculated on the basis of the following formula: A * B * C*.
A: Years of service
B: Income
C: Multiplication factor
Guarantee scheme. Unless you agree otherwise, the organisation collecting the payment from you will normally tell you at least ten Working Days before changing your regular payment date or the amount that they will collect from your Account;
Guarantee scheme. Employees with a personal supplement who miss some salary perspective (expressed as a percentage of the annual salary) in the future because the personal supplement is incorporated into the new salary but not the salary scales, keep the old salary perspective.
Guarantee scheme. The parties to the collective agreement agree that the holiday guarantee scheme is to be used by NNF members working in enterprises under the Meat Factory and Slaughterhouse Collective Agreement (DIO I).
Guarantee scheme. DIO I shall issue the usual guarantee for the presence of the money, including for any holidays transferred.
(10) Outstanding holiday payment II - Time off
Guarantee scheme a. The parties to the collective agreement agree that the holiday guarantee scheme is to be used by NNF members working in enterprises under the Meat Factory and Slaughterhouse Collective Agreement (DIO I).
b. If an enterprise wishes to keep holiday allowance in the enterprise instead of making ongoing payments to the FerieKonto holiday payment scheme, the par- ties to the collective agreement agree that this can take place. If so, the enter- prise must inform the employees of this in writing. In the event of a transition to FerieKonto payment the employees must be informed in the same way.
c. DI guarantees all earned holiday allowance, including any transferred holiday.
Guarantee scheme. Dansk Industri shall issue the usual guarantee for the presence of the money, including for any holidays transferred.