ALLOWABLE COST AND PAYMENT Clause Samples

ALLOWABLE COST AND PAYMENT. (a) Invoices from Seller shall be submitted in reasonable detail to a designated Company representative as work progresses. A statement of the claimed, allowable cost for performing the work under this Agreement shall accompany each invoice. If applicable, invoices shall include a list of the property acquired by Seller to which title vests in the Government according to the Government Property clause of this Agreement. Invoices may be submitted once every month (or at more frequent intervals if approved by Company). Payments may be made by check or electronic funds transfer, at the option of Company. Payment shall be deemed to have been made as of the date of mailing or the date on which an electronic funds transfer was made. (b) For reimbursement of work performed under this Agreement, Company shall pay to Seller allowable costs in accordance with this Agreement and Subpart 31.3 for Educational Institutions, 31.7 for nonprofit organizations, or 31.2 of the FAR for all others as supplemented by Subpart 931.2 of the DEAR in effect on the date of this Agreement. The term “cost” includes only: 1) costs Seller has paid for items or services directly for the Agreement at the time of the invoice; and 2) provided Seller is not delinquent in paying costs of Agreement performance in the ordinary course of business, costs incurred but not necessarily paid for materials from Seller’s inventory; direct labor; direct travel; other direct in-house costs; allocable and allowable indirect costs. (c) Final annual indirect cost rates and the appropriate bases shall be established in accordance with Subpart 42.7 of the FAR in effect for the applicable period. Within 90 days after expiration of each of its fiscal years, Seller shall submit proposed final indirect cost rates for that period and supporting cost data to Company or the cognizant audit agency, whichever applies. Seller and Company (or the cognizant audit agency) shall determine and execute a written understanding of the final indirect cost rates. (d) Quick close-out procedures of Subpart 42.7 of the FAR may be used. (e) At any time before final payment, Company may have Seller’s invoices and statements of cost audited. Any payment may be reduced by amounts found by Company not to constitute allowable costs or adjusted for prior overpayments or underpayments. (f) Seller shall submit a completion invoice no later than one year from the completion date. Upon approval of that invoice and Seller’s compliance with the ...

ALLOWABLE COST AND PAYMENT a. Invoicing: The Owner will make payments to the Private Entity as set forth in Section 16.2(a), but not more than monthly, in amounts approved by the Owner’s Representative, such approval not to be unreasonably withheld. The Private Entity must submit an invoice or voucher to the address specified by Owner, supported by a statement of claimed allowable costs of performing this Agreement, in such form and detail as required by Exhibit F hereto.

ALLOWABLE COST AND PAYMENT. The FHWA shall reimburse the State for allowable costs incurred in carrying out the work described in Article III, up to the project agreement amount shown on the signature page of this agreement. The State shall submit requests for reimbursement on Form PR-20, "Voucher for Work Performed under Provisions of the Federal-Aid and Federal Highway Acts, as amended." A progress voucher represents a claim for costs incurred in a specific period during the progress of the project. In preparing a progress voucher, all eligible costs shall be included, provided that a recorded liability exists or a cash disbursement has been made. A final voucher represents the final claim, submitted by the State for a single completed project accepted by the FHWA. The State shall promptly submit its final claim following termination of the period of performance. A summary of project costs, classified by expenditure type, shall accompany the final voucher. Allowable costs shall be determined in accordance with the Office of Management and Budget (OMB) Circular A-87, "Cost Principles for State and Local Governments." All allowable items of cost as listed in Attachment B to Circular A-87, are eligible for reimbursement under this agreement. The budget of estimated costs by expenditure category is included as Attachment 1 to this agreement. Signature of this agreement by the FHWA shall constitute grantor agency approval for cost items included in the attached budget.

ALLOWABLE COST AND PAYMENT. (Note 1 applies, except in paragraphs (a)(3) and (b)(1)(ii)(F) where Note 3 applies. Note 2 applies, except in paragraph (g) where Note 7 applies.)

ALLOWABLE COST AND PAYMENT. (a) Invoicing. LOCKHEED ▇▇▇▇▇▇ shall make payments to SELLER when requested as work progresses, but (except for Small Business Concerns) not more often than once every 2 weeks, in amounts determined to be allowable by LOCKHEED ▇▇▇▇▇▇ in accordance with the terms of this Contract and Subpart 31.2 of the FAR, and agency supplements as appropriate, in effect on the date of this Contract. If the Contract is with an educational institution, FAR Subpart 31.3 shall apply; and if with a non-profit organization other than an educational institution, FAR Subpart 31.7 shall apply. SELLER may submit to the LOCKHEED ▇▇▇▇▇▇ Procurement Representative, in such form and reasonable detail as the Representative may require, an invoice or voucher supported by a statement of the claimed allowable cost for performing this Contract.

ALLOWABLE COST AND PAYMENT. For the performanc of this Agreement, Company shall pay the Subcontractor the compensation as described below subject to the applicable cost principles regarding allowable costs as amplified by OMB Circular A-21 Cost Principals for Educational Institutions

ALLOWABLE COST AND PAYMENT. The City agrees to invoice the County an amount not to exceed $7,317. 20 for reimbursement of expenditures incurred in accordance with the project budget described in Appendix B. City shall comply with the payment procedures described in Appendix C and other applicable payment procedures established by the County. The County reserves the right to determine satisfactory compliance with the performance criteria and other applicable County policies and procedures.

ALLOWABLE COST AND PAYMENT. (a) Invoicing - Buyer shall make payments to Seller when requested as work progresses, but (except for small business concerns) not more often than once every 2 weeks, in amounts determined to be allowable by Buyer in accordance with Part 31 of the Federal Acquisition Regulation (FAR) in effect on the date of this purchase order and the terms of this purchase order. Seller may submit to an authorized representative of Buyer in such form and reasonable detail as the representative may require, an invoice or voucher supported by a statement of the claimed allowable cost for performing this purchase order.

ALLOWABLE COST AND PAYMENT. For the performance of this Agreement, the University agrees to pay Subcontractor the costs thereof determined to be allowable in accordance with 0MB Circular A-110 and the applicable cost principles as defined by 0MB Circular A-21. Subcontractor may submit invoices to the University not more frequently than monthly. Said invoice should state the period for which reimbursement is being requested and be prepared on Standard Form (SF270), Request for Advance or Reimbursement, or a similar form which itemizes the costs by budget category. SF270 or similar invoice should be mailed to the University contact for contractual matters indicated in Article XVII of this agreement. Reimbursement for indirect costs will be in accordance with Subcontractor's established policy. The final invoice must be submitted to the University within 60 days following the expiration of the agreement.