DELINQUENT REMITTANCES. (a) When remittances in accordance with Articles 17 and 19 are over 10 days in arrears, the employer shall pay to the Trustees and/or to the Employer Association in the case of Employer Industry, Training and Development Funds, as liquidated damages and not as a penalty, an amount equal to 5% per month, or portion thereof up to 60% per annum of such delinquent contributions, unless the Employer has corrected such delinquencies within 5 days of being given written notice.
Appears in 3 contracts
Samples: Collective Agreement, Terrazzo and Cement Masons, Collective Agreement
DELINQUENT REMITTANCES. (a) When remittances in accordance with Articles 17 and 19 are over 10 days in arrears, the employer shall pay to the Trustees and/or to the Employer Association in the case of Employer Industry, Training and Development Funds, as liquidated damages dam- ages and not as a penalty, an amount equal to 5% per month, or portion thereof up to 60% per annum of such delinquent contributionscontri- butions, unless the Employer has corrected such delinquencies delinquen- cies within 5 days of being given written notice.
Appears in 2 contracts
Samples: Brick Provincial Collective Agreement, Brick Provincial Collective Agreement
