Collection of Contributions. The CPN Secretariat shall be the agent for the Trust Fund to collect all Premiums and deposit them in a separate account according to this Agreement. The Trust Fund shall be deposited in an interest bearing account and shall consist of that portion of the Premium, which is not held in other investments such as bonds, or other such secure, and interest bearing instruments. All administrative costs, including but not limited to, service fees, costs of bonds, audit fees shall be paid from the Trust Fund as authorized by the Directors.
Appears in 2 contracts
Sources: Trust and Indemnity Agreement, Trust and Indemnity Agreement