Article 35 · p.48

BENEFIT BOND

Before members of Local 83 are dispatched, to any employer who has not been a party to the Carpenters Collective Agreement for a minimum of twelve (12) months, such employer shall provide security for a period of one (1) year in the amount of five thousand dollars ($5,000.00). This five thousand dollar ($5,000.00) security shall be used by the Union in the event of a default of payment by the said employer of Welfare and/or Pension, Training, Safety and Industry Improvement Fund contributions as set forth in the aforesaid Collective Agreement. The five thousand dollar ($5,000.00) 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 including accumulated interest where the employer has not defaulted in any payments required for the Welfare, Pension, Training, Safety and Industry Improvement Fund referred to herein, within the one (1) year period. 35.01A The J.C.C. has the discretion to require the satisfaction of the bond by a payment schedule of not less than five hundred dollars ($500.00) per month payable in advance until the amount as determined by the J.C.C. (between a minimum of five thousand dollars ($5,000.00) and a maximum of twenty thousand dollars ($20,000.00) is received in full. When a payment schedule is instituted for a company, the monthly payment may be varied upwards as the Carpentry workforce increases, until the full sum required is lodged with the Union. The discretion to grant a payment schedule, and/or to vary such schedule, lies absolutely in the decision of the J.C.C. and is final and inarbitrable.