Each Application for Payment shall be based upon the schedule of values submitted by the Contractor in accordance with the Contract Documents and shall be accompanied by a properly completed sworn statement from Contractor, each Subcontractor, and each Sub-Subcontractor of any tier whose subcontract exceeds $2,000.00, and such other supporting documents as may be required by the Owner or Architect. Contractor shall submit Applications for Payment in accordance with Article 9 of the WCC General Conditions. Progress Payments. Progress payments shall be made on a thirty (30) day cycle on the fifteenth (15th) day of each month, or, if the 15th day falls on a weekend or holiday, on the first business day thereafter. Invoices shall not be submitted more frequently than monthly, and shall include all charges made since the preceding Invoice Period. Subject to the payment provisions of this Agreement, ninety percent (90%) of the amount set forth in the Invoices shall be paid in any calendar month upon payment of the progress payment for such month to Contractor. Contractor agrees to furnish, if and when required by Owner, payroll affidavits, receipts, vouchers, releases of claims for labor, material and subcontractors performing work or furnishing material under this Agreement, all in form satisfactory to Owner. Such certified statements shall be in the form prescribed by the laws of the state in which the Job Site is located, or if no such prescribed form exists, in substantially the form attached hereto as Exhibit A. Each Invoice will be accompanied by certified statements from each supplier and subcontractor (1) indicating the total amount due them as a result of the work performed during the Invoice Period, (2) acknowledging that Contractor may or may not (in the Owner’s sole discretion) be paid by means of a joint check prepared based upon such certified statements, and (3) agreeing that such supplier's or subcontractor's negotiation of any such check shall be its representation that it has been timely and fully paid for work performed through the end of the Invoice Period. All Invoices shall be accompanied by (i) a list of all suppliers and subcontractors whose materials or services have been utilized by Contractor to perform the work described in the Invoice, and (ii) signed waivers of and releases from any claim of lien, or stop notice that could be asserted by such suppliers, subcontractors and Contractor as a result of the work performed during the Invoice Period. Progress Payments. All applications for payment (" Invoices"), in form acceptable to Owner, shall include a complete description of the labor and materials supplied, and the work done during the period covered by the Invoice (the " Invoice Period"). The Contractor shall be responsible for, and shall not remove from the project any material that has been included in the estimate for payment. No such estimate or payment shall be construed to be an acceptance of any defective work or improper material. The cost of materials conforming to the plans and specifications (materials being those which are required to be contained and incorporated in a finished contract quote item) delivered to the project and not at the time incorporated in the work, may also be included in the estimate for payment. No such estimates or payments shall be required to be made, when, in the judgment of the City Project Manager, the work is not proceeding in accordance with the provision of the Contract, or when in his judgment the total value of the work done since last estimate amounts to less than Five Hundred Dollars ($500.00). Any time after fifty percent (50%) of the value of the work has been completed, the City will make any of the remaining partial payments in full. From the total of the amount ascertained will be deducted an amount equivalent to five percent (5%) of the whole, which five percent (5%) will be retained by the City until after completion of the entire Contract in an acceptable manner. The progress estimates shall be based upon materials in place, or on the job site and invoiced, and labor expended thereon. Partial payments will be made once each month as the work satisfactorily progresses and after acceptance by the authorized City representative. Progress Payments. (This Section IS IS NOT Applicable to this contract): A monthly progress payment in the amount of ninety- five percent (95%) of the value of the work completed may be made every thirty (30) days upon application by the Contractor and certification by the Project Manager that such work has been completed.
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