SBS Clause Samples
The SBS clause, short for "Substantial Completion by Subcontractor," defines the requirements and standards that a subcontractor must meet to achieve substantial completion of their portion of work on a project. Typically, this clause outlines the specific deliverables, inspections, or approvals needed before the subcontractor's work is considered substantially complete, such as passing a final inspection or obtaining a certificate of completion. Its core practical function is to establish a clear milestone for project progress, which can trigger payment obligations, shift risk, or mark the start of warranty periods, thereby ensuring clarity and accountability between parties.
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SBS. The employer and employees shall participate in the Supplemental Benefits System (SBS).
SBS. The Employer shall make contributions to the State of Alaska Supplemental Annuity Plan (SBS) for employees eligible for SBS coverage under the ▇▇▇▇▇▇ Borough’s Alaska Supplemental Benefits System Participation Agreement dated November 1, 2002.
SBS. For purposes of this Master Agreement, the term “SBS” means a “security- based swap” as defined in Section 3(a)(68) of the SEA and the SEC Rules thereunder. For the avoidance of doubt, the term “SBS” does not include an SBS that has been cleared by a clearing agency.
SBS. The Superintendency of Banking, Insurance and Private Pension Fund Administration Companies or the entity that may replace it in its functions.