Unique item and classification Sample Clauses

Unique item and classification. In December 2001, C enters into a contract with B to design and manufacture a new type of industrial equipment. C reasonably expects the normal production period for this type of equipment to be eight months. Because the new type of industrial equipment requires a substantial amount of research, design, and engineering to produce, C determines that the equipment is a unique item and its con- tract with B is a long-term contract. After delivering the equipment to B in September 2002, C contracts with B to produce five addi- tional units of that industrial equipment with certain different specifications. These additional units, which also are expected to take eight months to produce, will be deliv- ered to B in 2003. C determines that the re- search, design, engineering, retooling, and similar customizing costs necessary to produce the five additional units of equip- ment does not exceed 10 percent of the first unit’s share of estimated total allocable con- tract costs. Consequently, the additional units of equipment satisfy the safe harbor in paragraph (b)(2)(ii) of this section and are not unique items. Although C’s contract with B to produce the five additional units is not completed within the contracting year, the contract is not a long-term contract since the additional units of equipment are not unique items and do not normally re- quire more than 12 months to produce. C must classify its second contract with B as a non-long term contract, notwithstanding that it classified the previous contract with B for a similar item as a long-term contract, because the determination of whether a con- tract is a long-term contract is made on a Internal Revenue Service, Treasury § 1.460–3 contract-by-contract basis. A change in clas- sification is not a change in method of ac- counting because the change in classifica- tion results from a change in underlying facts. Example 2. 12-month rule—related party. C manufactures cranes. C purchases one of the crane’s components from R, a related party under § 1.460–1(b)(4). Less than 50 percent of R’s gross receipts attributable to the sale of this component comes from sales to unre- lated parties; thus, the exception for compo- nents and subassemblies under § 1.460– 1(g)(1)(ii) is not satisfied. Consequently, C must consider the activities of R as R incurs costs and performs the activities rather than as C incurs a liability to R. The normal time period between the time that both C and R incur five percent of the costs all...
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Related to Unique item and classification

  • New Classification Should a new position or new classification be created within the Bargaining Unit during the term of this Agreement, the Employer and the Union will decide the rate of pay. Nothing herein prevents the Employer from filling such positions and having Nurses working in such positions during such negotiations. The salary when determined will be retroactive to the date on which the successful candidate commenced work in that classification.

  • Job Classification When a new classification (which is covered by the terms of this Collective Agreement) is established by the Hospital, the Hospital shall determine the rate of pay for such new classification and notify the local Union of the same. If the local Union challenges the rate, it shall have the right to request a meeting with the Hospital to endeavour to negotiate a mutually satisfactory rate. Such request will be made within ten (10) days after the receipt of notice from the Hospital of such new occupational classification and rate. Any change mutually agreed to resulting from such meeting shall be retroactive to the date that notice of the new rate was given by the Hospital. If the parties are unable to agree, the dispute concerning the new rate may be submitted to arbitration as provided in the Agreement within fifteen (15) days of such meeting. The decision of the Board of Arbitration (or arbitrator as the case may be) shall be based on the relationship established by comparison with the rates for other classifications in the bargaining unit having regard to the requirements of such classification. When the Hospital makes a substantial change in the job content of an existing classification which in reality causes such classification to become a new classification, the Hospital agrees to meet with the Union if requested to permit the Union to make representation with respect to the appropriate rate of pay. If the matter is not resolved following the meeting with the Union the matter may be referred to Arbitration as provided in the Agreement within fifteen (15) days of such meeting. The decision of the Board of Arbitration (or arbitrator as the case may be) shall be based on the relationship established by comparison with the rates for other classifications in the bargaining unit having regard to the requirements of such classifications. The parties further agree that any change mutually agreed to or awarded as a result of arbitration shall be retroactive only to the date that the Union raised the issue with the Hospital. Notwithstanding the foregoing, if as a result of compensable illness or injury covered by WSIB an employee is unable to carry out the regular functions of her position, the Hospital may, subject to its operational requirements, establish a special classification and salary in an endeavour to provide the employee with an opportunity of continued employment. This provision shall not be construed as a guarantee that such special classification(s) will be made available or continued.

  • Client Classification 7.1. We shall not have an obligation to treat our clients in different classes depending on their knowledge and expertise.

  • New Job Classifications 11.1 Whenever the Company determines it appropriate to create a new job classification in the bargaining unit, it shall proceed as follows.

  • New Classifications If a new classification is created within the bargaining unit, the Employer agrees to meet with the Union and negotiate a rate of pay for this new classification. If the parties cannot reach agreement, at the request of either party, the matter shall be submitted to the arbitration procedure in Article 26 of this Agreement.

  • JOB CLASSIFICATIONS For the purpose of this Agreement the following classifications will be applicable:

  • WAGES AND CLASSIFICATIONS 14.01 Job classifications are set out in Schedule "A" of this Agreement. They shall not be changed or deleted, nor shall the jobs themselves be altered or amended without discussion with the Union.

  • COVERED CLASSIFICATIONS All employees shall be subject to post-Accident testing under this Agreement. All employees who perform Safety-Sensitive Functions, as defined in this Policy, shall be subject to reasonable suspicion testing.

  • Position Classification 1. The requirements of each position will be documented by a Position Description developed by reference to the Position Description Questionnaire (PDQ), and classified into a salary grade consistent with the Position Description and classifications for corresponding job duties found throughout the USNH System and according to USNH policy and processed by the KSC Office of Human Resources.

  • Employee Classification 12.01 The term “

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