Market Recovery
Policy and Guidelines for the Sheet Metal Workers' Local 10 Market Recovery Fund
Job Targeting Fund and its purpose
The Job Targeting Fund is a fund made up of union dues on the members of SMART Local Union No. 10. The Fund is comprised solely of Union member contributions and is administered solely for the purpose of mitigating the economic impact on persons who work jobs where wage modifications may be put in place by the Business Manager of the Local Union pursuant to Resolution 78. Whether an employer receives any monies from the Job Targeting Fund is solely within the discretion of the Business Manager/Local Union, and any commitment made by The Local to provide monies out of this Fund to any contractor shall be non-binding upon him or the Union and may be cancelled, modified or discontinued at any time for any reason.
Procedures to secure Job Targeting Funding
The contractor must submit a request for funding using the Market Recovery Request form 48 hours PRIOR to the bid date. It is the responsibility of the contractor to provide all data necessary for Local 10 to decide whether or not to extend funding. It shall NOT be the responsibility of the Union Business Manager or the Union Business Representative(s) to obtain or collect this information. Applications will be closed on that date, and no late applications will be accepted except upon the express consent of the Business Manager or the Union Business Representative.
Contractor Eligibility
In order to receive Market Recovery Funding, a contractor must
- Be a signatory contractor of the Sheet Metal Workers Local No. 10 Collective Bargaining Agreements.
- Be current to all fringe benefit reports and funds and be remitted by the 10th day of the following month for which benefits are due. Along with a current fringe, benefit file at the Fund Office.
- Have submitted the proper Market Recovery / Resolution 78 request forms, fully completed and forwarded to the Market Recovery Fund Office and be received 48 hours prior to the bid date.
- Notification of bid results, whether successful or not, shall be submitted within 30 days of the bid date or the target Grant money will be forfeited.
- The contractor who receives a Target Grant shall submit a Union Work Assignment letter on Company’s letterhead.
- The contractor who receives a Target Grant shall submit a list of hours and names of Local 10 members who worked on the project along with the completed Work Certification Statement. This will be sent to the Market Recovery Fund Office, either by email marketrecovery@smw10.org or through the mail to the main office; Attention Market Recovery, Failure to send this will mean either a delay or no payment to the contractor. Should any contractor be found sub-contracting any work claimed by the International Association of SMART, Market Recovery funding on all projects would be cancelled.
- The contractor who receives a Target Grant shall agree to provide Local 10 with information regarding the progress of the job on demand and if requested provide a certified payroll report.
Payment Policy
- Payments will only be made upon completion of the list of hours and names of Local 10 members along with the Work Certification Statements.
- The signed Letter of Assignment on Company letterhead shall be received by Local 10.
- Have submitted the proper bid results which shall be submitted within 30 days of the bid date.
- Target Grant payments will cease during the course of the project if the contractor falls behind in any fund payments.
- Target Grant payments will be made proportionally when the verified percentage billed on the project reach the 50% and the final target payment will be paid at the 100% billed mark on all projects with more than 1500 hours. All other will be paid once at final completion.
Market Recovery Forms
Work Certification Form
MR Request Form
Union Work Assignment Letter