Hour Bank definition

Hour Bank. Creates the possibility to have time offset against overtime based on individual written contracts. Offsetting in this case is must be within 6 months, and 12 months depending on a collective bargaining. Habitual overtime will not invalidated hour banks, as is the current opinion of the Courts.  Rotating Shift (12X36)*: Will no longer require union participation.  Lunch-break: Can be reduced to 30 minutes by collective bargaining. The time reduced will entitle only to payment of such time, as indemnity*.  Ratification (homologação)*: Ratification by union or inspection body will no longer be a requirement.  Payment: 10-day deadline for termination payments regardless of cause or notice.  Termination by mutual agreement: New way of terminating the employment contract by agreement between company and employee.  Mass dismissal/Collective termination: Union involvement is not required, as opposed to current understanding of the Courts.  Private settlements: Possibility to submit joint petition of separation agreements to Court to obtain valid waiver of employment rights and general acquittal.  Annual settlement of employment rights: possibility to have an “annual” release of labour obligations. Validity will depend on union ratification.  Collective arrangements vs. Statutes: Collective arrangements will prevail over the legislation specially when dealing with working hours, overtime offsetting, positions and salaries structure, home office, time on-call, working hours recording modality, unhealthy work condition level and profit sharing.  Contributions to unions*: Eliminates mandatory contributions to unions.  Economic group: Broad Interpretation of the concept of economic group is more restricted. Creates the need to demonstrate “integrated interest” between companies.  Succession of employers: Successor company liability understanding of the Courts is confirmed. Joint liability of the successor and succeeded companies will require evidence of fraud.  Disregard of legal entity: Personal partner liability now has a regulated procedure allowing adversary proceedings and production of evidence.
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Hour Bank means the record of the number of hours reported, accumulated and/or diminished on behalf of an Employee.
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Hour Bank means an account established for an Employee where work hours, any disability hours and the deduction of hours for coverage are recorded and tracked for purpose of establishing eligibility for benefits.
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Examples of Hour Bank in a sentence

  • In recognition of time spent on shift overlap, Operators will be credited with an additional 16 hours per year in their Hour Bank.

  • An Inclement Weather Hour Bank shall be allowed up to a maximum of forty (40) hours.

  • Employees may also take accrued hours from the Hour Bank and accrued annual leave.

  • Should the employee voluntarily elect to take time away from the work place and the employee has no credit hours in the Hour Bank, the employee will not be paid for such time taken unless the time is taken as approved leave.

  • The employee shall be entitled to accrue a maximum of 120 credit hours in the Hour Bank.

  • Hour Bank Means the method of accruing hours in accordance with Clause 17 of this Agreement.

  • When a permanent employee is required to work on a public holiday, the employee will be paid for working on that public holiday in addition to the ordinary rate of pay and have credited in the Hour Bank, 1.5 for each hour worked on that public holiday.

  • Should a full time permanent employee work more than 38 hours in any one weekly period, such excess hours shall not be paid but shall be credited as one hour for each hour worked or part thereof, in the Hour Bank.

  • Such extra hours shall be credited at the rate of 1 hour for each hour worked or part thereof in the Hour Bank.

  • Should the employee voluntarily elect to take time away from the workplace and the employee has no credit hours in the Hour Bank, the employee will not be paid for such time taken unless the time is taken as approved leave.