Common use of Annual Statement and Payment Clause in Contracts

Annual Statement and Payment. At the end of a year covered by the collective agreement or at the expiry of the collective agreement, the employer prepares a statement that sets out the size of local wages and the total local wages paid to employees who have been paid local wages in the year in question. If the local wages have not been fully paid at the date of the statement, the remaining amount is distributed between the employees who were covered by the local wage scheme on 1 March of the year in question. The distribution is made proportionally on the basis of wage hours worked individually in the preceding agreement year, unless otherwise agreed locally. Payment of any remaining amounts is made in connection with the first pay period after 1 March unless otherwise agreed locally. If the shop ▇▇▇▇▇▇▇ asks for documentary evidence of wages having been paid as agreed, the employer must provide such documentation.