RESPONSIBILITY BOND Sample Clauses

RESPONSIBILITY BOND. Effective July 1, 2010, each contractor upon payment of his/her annual Shop Card/Bond Fee shall be automatically bonded for $25,000.00 by the LMCC Bond Fund which shall be funded from part of the Annual Shop Card Fees. Should the employer’s bond be utilized to pay wages or trust fund contributions, the employer shall be liable to the bond fund for the amount paid to said, or to the trust funds on its behalf, with interest to accrue at 10% per diem on amount paid. At the option of the LMCC, a signatory contractor, may because of past delinquencies, be required to post an additional bond, acceptable to the LMCC, over and above the bond provided by the LMCC Bond Fund. If an additional bond is required, it is hereby agreed that the primary bond shall always pay its full face value before the LMCC Bond Fund shall make any payments as a result of any deficiencies on the part of a signatory contractor listed above. In the event an employer's Shop Card is suspended for failure to pay wages, fringe benefits or assessments for a violation of this Agreement, or upon determination by the LMCC, the employer shall be required to post an additional responsibility bond, or cash bond (type of bond to be determined by the LMCC) in an amount to be determined by the LMCC. In all cases, the new bond shall be at least in the amount of $25,000.00. Each employee, other person, or entity, except the Trust Funds, having a claim against any contractor under the provisions of this Agreement shall notify the LMCC, in writing, of the facts and circumstances of such unpaid obligations. The LMCC, or its representative, shall, after verification of indebtedness, process a certification of default to the surety company for payment under the terms of the surety bond and remit the funds received from the surety company to the person or entity entitled thereto. In the event the employer has deposited cash or other security under these provisions, the LMCC, or its representative, shall after verification of the indebtedness, withdraw from said cash deposit or convert said security to cash and forward to the obligee, thereof, sufficient funds to discharge such obligations. Within twenty four (24) hours after notice to any employer of such payment by the LMCC out of that employers cash or other security deposit, the employer shall replenish his/her cash or security deposit to the original sum required or to such further sum as the LMCC shall determine as necessary to guarantee further deficienci...
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Related to RESPONSIBILITY BOND

  • Responsibility Pay (a) An employee who is designated in writing to relieve the Director of Care, shall be paid ten dollars ($10.00) per shift for each shift so worked, in addition to her regular rate of pay.

  • Responsibility of Contractor a. Contractor shall be held strictly responsible for the proper performance of all work covered by the Contract Documents, including all work performed by Subcontractors. All work performed under this Contract shall comply in every respect to the rules and regulations of all agencies having jurisdiction over the Project or any part thereof.

  • Responsibility of the Contractor The Contractor shall be responsible for the quality, technical accuracy, and the coordination of all deliverables and other services furnished by the Contractor under this Contract. The Contractor shall, without additional compensation, correct, or revise any errors or deficiencies in the Work which are discovered within a twelve-month period of final completion of Work.

  • Repair Responsibility Builder will repair only cracks exceeding 1/8 inch in width, one time only, during the first year of the Limited Warranty period.

  • Responsibility for Loss In the event the Computer is lost or stolen, the Student and Parent may be billed the full cost of replacement.

  • Contractor Responsibility (a) The Contractor shall be responsible for the entire Performance under the Contract regardless of whether the Contractor itself performs. The Contractor shall be the sole point of contact concerning the management of the Contract, including Performance and payment issues. The Contractor is solely and completely responsible for adherence by the Contractor Parties to all applicable provisions of the Contract.

  • CAISO Responsibility The Parties acknowledge that the CAISO is responsible for the efficient use and reliable operation of the CAISO Controlled Grid consistent with achievement of planning and Operating Reserve criteria no less stringent than those established by the Western Electricity Coordinating Council and the North American Electric Reliability Corporation and further acknowledges that the CAISO may not be able to satisfy fully these responsibilities if the Participating Generator fails to fully comply with all of its obligations under this Agreement.

  • CONTRACTOR RESPONSIBILITY PROVISIONS For the purpose of these provisions, the term contractor is defined as any person, including, but not limited to, a bidder, offeror, loan recipient, grantee or lessor, who has furnished or performed or seeks to furnish or perform, goods, supplies, services, leased space, construction or other activity, under a contract, grant, lease, purchase order or reimbursement agreement with the Commonwealth of Pennsylvania (Commonwealth). The term contractor includes a permittee, licensee, or any agency, political subdivision, instrumentality, public authority, or other public entity in the Commonwealth.

  • Teacher Responsibility The Board and the Association acknowledge that a teacher's primary responsibility is to teach and that support personnel and volunteers shall be used to assist with and reduce teachers' non-instructional responsibilities. The Board and the Association agree that, in order to encourage the efficient use of time and to conserve paper, paperwork required of teachers should be kept to a minimum.

  • PRIME CONTRACTOR RESPONSIBILITY The contractor will be required to assume prime contractor responsibility for the contract and will be the sole point of contact with regard to all commodities, services and support. The prime contractor may delegate facilitation of contract orders to their “Authorized/Certified Dealers” only. This delegation will in no way relieve the contractor of any contractual obligations set forth in this Contract Award.

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