Article 15 · p.35

BONDING

The Parties agree that, where the trustees of a Pension and/or Welfare and/or Training Fund have determined that there is a pattern of defaulting on contributions to such fund or funds on the part of employers who have not been party to a Collective Agreement with the Union for a period of one (1) year, then, upon the recommendation of the trustees, the Union may decline to supply employees to any employer who has not been a party to a Collective Agreement with the Union until the employer provides a security for a period of one (1) year in the amount of fifty thousand dollars ($50,000.00). This security may be used by the trustees, in the event of a default of payment by the said employer of Pension and/or Welfare and/or Training Funds as set out in this Collective Agreement, and applied to mitigate said default. The fifty thousand dollar ($50,000.00) security shall be returned by the Union to the employer after thirty (30) days from the expiry of the one (1) year period that the security was provided by the employer along with accumulated interest, where the employer has not defaulted in any payments required for the Funds referred to herein, within the one (1) year period. For the purpose of this Article the fifty thousand dollar ($50,000.00) security shall be in the form of a negotiable security and negotiable at par and be deposited with the Administrator, Benefit Plan Administrators Limited.