Construction Industry Progress Fund (CIPF Sample Clauses
The Construction Industry Progress Fund (CIPF) clause establishes a requirement for contractors or project participants to contribute to a designated fund that supports industry-wide initiatives, such as training, safety programs, or workforce development. Typically, this clause specifies the amount or percentage of contract value to be paid into the CIPF, outlines the timing of payments, and identifies the fund's administrator. Its core practical function is to ensure consistent funding for programs that benefit the construction industry as a whole, thereby promoting industry standards, safety, and workforce quality.
Construction Industry Progress Fund (CIPF. Effective August 1, 2004, the Employers agree to remit ten ($0.10) cents per hour for each Employee to go to the Construction Industry Progress Fund (CIPF). The ten ($0.10) cents per hour shall go towards promoting and supporting stability, long term construction programs and adequate funding for public works projects on the state and local government level, to assure minimal governmental interference in free enterprises through the regulatory process, to support secondary and post-secondary vocational programs to create a competitive educated workforce, and to cooperate with AGC Safety, Inc., in their program to improve working conditions and safety records. The deductions will continue without interruption and will be forwarded to CIPF's agent. Such deductions shall be transmitted to CIPF's agent within fifteen (15) days following the end of each calendar month.
Construction Industry Progress Fund (CIPF. Effective April 1, 2007, the Employers agree to remit ten ($0.10) cents per hour to go to the Construction Industry Progress Fund (CIPF). The ten ($0.10) cents per hour shall go towards promoting and supporting stability, long term construction programs and adequate funding for public works projects on the state and local government level, to assure minimal governmental interference in free enterprises through the regulatory process, to support secondary and post-secondary vocational programs to create a competitive educated workforce, and to improve working conditions and safety records. All Monies collected for the CIPF by the Employer shall be paid to the agent designated by IUOE Local 302. The CIPF funds deducted shall be paid monthly by the 15th of the month following the month in which they were deducted.