Standby Payment Clause Samples

A Standby Payment clause establishes a mechanism for making payments in advance or as a backup in case the primary payment method fails or is delayed. Typically, this clause requires one party to provide funds through an alternative means, such as a standby letter of credit or escrow, ensuring that payment obligations are met even if unforeseen issues arise with the main payment process. Its core practical function is to guarantee timely payment and reduce the risk of non-payment, thereby providing financial security and assurance to the receiving party.
Standby Payment. All Employees assigned to standby shall receive a standby premium as follows: i) Two dollars and nineteen ($2.19) cents per hour for each hour on standby on a regular working day with a minimum payment for eight (8) hours; ii) Four dollars and twelve ($4.12) cents per hour for each hour on standby on days off and Statutory Holidays with a minimum payment for eight (8) hours. i) Three dollars and fifteen cents ($3.15) per hour for each hour on standby on a regular working day with a minimum payment for eight (8) hours; ii) Four dollars and twenty-five cents ($4.25) per hour for each hour on standby on days off and Statutory Holidays with a minimum payment for eight (8) hours.
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Standby Payment. All Employees assigned to standby shall receive a standby premium as follows: i) Two dollars and nineteen ($2.19) cents per hour for each hour on standby on a regular working day with a minimum payment for eight (8) hours; ii) Four dollars and twelve ($4.12) cents per hour for each hour on standby on days off and Statutory Holidays with a minimum payment for eight (8) hours.
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Standby Payment. An Employee who is specifically requested by the Employer to hold oneself in readiness to return to work after finishing work AND leaving site is to be paid a standby allowance for each hour actually required to be on standby. The hourly allowance will be $4.00 per hour and paid for each hour actually on standby and whilst not actually working. The payment will not apply whilst the Employee is working rostered hours. The Employee must maintain themselves ready, willing and able to work whilst on standby.
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Related to Standby Payment

  • Standby Pay Standby pay shall be at the rate of four ($4.00) dollars per hour. An additional two dollars ($2) per hour will be paid for all hours of standby assigned by the Employer beyond seventy-five (75) hours in a pay period. Standby pay shall be paid for actual hours on standby prior to reporting for duty. Standby pay shall not be paid when the nurse is receiving the four (4) hour minimum callback guarantee, even though the nurse has returned to standby status.

  • Standby Time All standby time shall be considered as regular hours worked and shall be compensated on a straight time or overtime basis as are other hours worked under this Agreement.

  • Standby An employee who is required to remain available for duty on standby, outside the normal working hours for that particular employee, shall receive standby pay in the amount of $2.00 per hour for all hours on standby. Standby pay shall, however, cease where an employee is called into work under Article 15.06 above and works during the period of standby."

  • Standby Provisions (a) Employees required to be on standby will be paid one dollar per hour, or portion thereof. (b) The minimum standby requirement will be four consecutive hours. (c) Should the Employer require an employee to have a pager, beeper, or a cellular phone available during their standby period, then all related expenses for such device will be the responsibility of the Employer.

  • Standby Duty (a) An employee shall be on standby duty when required to be available for work outside their normal working hours, and subject to restrictions consistent with the FLSA which would prevent the employee from using the time while on standby duty effectively for the employee’s own purposes. (b) Compensation for standby duty shall be at FLSA-eligible employee’s straight time rate of pay or for FLSA-exempt employees hour for hour compensatory time off. Overtime hours shall be at the appropriate overtime pay rate pursuant to Article 32.