AMOUNTS OF PROGRESS PAYMENTS. Prior to completion, progress payments will be in an amount equal to: 12.3.1 NINETY PERCENT (90%) OF COMPLETED WORK. Ninety percent (90%) of the work completed, and 12.3.2 NINETY PERCENT (90%) OF STORED MATERIALS. Where applicable pursuant to the above, ninety percent (90%) of materials and equipment not incorporated in the work but delivered and suitably stored, less in each case the aggregate of payments previously made.
Appears in 5 contracts
Sources: Public Works Contract, Public Works Contract, Public Works Contract