Common use of Payroll Classification Clause in Contracts

Payroll Classification. (a) The Member shall furnish to the Administrator not less than thirty (30) days before coverage is to be provided, an annual estimated payroll by job classification. This estimate shall be adjusted annu- ally by the Administrator at the end of each fund year to reflect the actual payroll on the books of the Member from time to time during the fund year. The Member agrees to pay promptly any additional premium that results from this annual adjustment upon receipt of an invoice from the Administrator. If, following the retirement of any deficit amounts, excess premium exists, this excess premium shall be dealt with in accordance with the provisions of Section 13 and Exhibit B. The Group reserves the right to conduct an annual audit, or cause its administrator or designee to conduct an annual audit, of the payroll records of the Member, and the Member hereby agrees to submit to such annual audit when requested to do so by the Group.

Payroll Classification. (a) The Member shall furnish to the Administrator not less than thirty (30) days before coverage is to be provided, an annual estimated payroll by job classification. This estimate shall be adjusted annu- ally by the Administrator at the end of each fund year to reflect the actual payroll on the books of the Member from time to time during the fund year. The Member agrees to pay promptly any additional premium that results from this annual adjustment upon receipt of an invoice from the Administrator. If, following the retirement of any deficit amounts, excess premium a positive balance exists, then this excess premium positive balance shall be dealt with in accordance with the provisions of Section 13 and Exhibit B. The Group reserves the right to conduct an annual audit, or cause its administrator or designee to conduct an annual audit, of the payroll records of the Member, and the Member hereby agrees to submit to such annual audit when requested to do so by the Group.