Common use of Participation Agreement Clause in Contracts

Participation Agreement. 33.01 In consideration of the establishment and administration by the Trustees of a Welfare and Pension Plan providing benefits for employees in the carpentry industry in the Province of Nova Scotia and the extension of such Plan to cover employees of the employer, the employer covenants and agrees with the Trustees as follows: (1) To make contributions to the said Plan in accordance with the provisions of the Collective Agreement in force from time to time between the Nova Scotia Construction Labour Relations Association Limited on behalf of its contracting members and other employers bound by this Collective Agreement and Local Union 83 United Brotherhood of Carpenters and Joiners of America. (2) To file monthly reports as required by the Trustees whether or not contributions are due and payable by the employer. (3) To produce complete employment records to permit the review of those records by a jointly appointed auditor by the Trustees to determine whether the employer has made the required contributions as provided herein, the auditor's costs being paid by the aggrieved party. (4) To pay interest of ten percent (10%) per month on all overdue contributions provided the employer is given five (5) days after notice to correct such delinquency and, where required, to post a cash bond of up to two thousand five hundred dollars ($2,500.00) on request of the Trustees after delinquency of more than thirty (30) days and such bond to be held until the delinquency has been corrected.

Participation Agreement. 33.01 34.01 In consideration of the establishment and administration by the Trustees of a Welfare and Pension Plan providing benefits for employees in the carpentry industry in the Province of Nova Scotia and the extension of such Plan to cover employees of the employer, the employer covenants and agrees with the Trustees as follows: (1) To make contributions to the said Plan in accordance with the provisions of the Collective Agreement in force from time to time between the Nova Scotia Construction Labour Relations Association Limited on behalf of its contracting members and other employers bound by this Collective Agreement and Local Union 83 United Brotherhood of Carpenters and Joiners of America. (2) To file monthly reports as required by the Trustees whether or not contributions are due and payable by the employer. (3) To produce complete employment records to permit the review of those records by a jointly appointed auditor by the Trustees to determine whether the employer has made the required contributions as provided herein, the auditor's costs being paid by the aggrieved party. (4) To pay interest of ten percent (10%) per month on all overdue contributions provided the employer is given five (5) days after notice to correct such delinquency and, where required, to post a cash bond of up to two thousand five hundred dollars ($2,500.00) on request of the Trustees after delinquency of more than thirty (30) days and such bond to be held until the delinquency has been corrected.