Common use of Monetary Award Clause in Contracts

Monetary Award. Any grievance decided against Employer which requires payment of a monetary award shall be paid within thirty days of the date of the award unless it is not provided for in Employer's fiscal year

Monetary Award. Any grievance decided against Employer which requires payment of a monetary award shall be paid within thirty days of the date of the award unless it is not provided for in Employer's fiscal year appropriation. In such case the delayed payment shall be made in the first month of the next succeeding fiscal year, at which time it shall be paid with interest from date of the award at the highest pass-book interest rate in the ▇▇▇▇▇▇▇▇ area.