Common use of Applications for Payments Clause in Contracts

Applications for Payments. A. DESIGN/BUILD ENTITY’S SUBMITTALS On or before the first day of each month and no more than five days prior thereto, the Design/Build Entity may submit applications for payment for the Work performed during such month covering the portion of the Work completed as of the date indicated, and payments on account of this Contract shall be due per § 24-30-202(24) (correct notice of amount due), within forty-five (45) days of receipt by the Principal Representative of application for payments that have been certified by the Architect/Engineer. The Design/Build Entity shall submit the application for payment to the Principal Representative and the Architect/Engineer on State forms SBP-7.2, Certificate for Design/Build Entity’s Payment, or such other format as the State Buildings Program shall approve, in an itemized format in accordance with the schedule of values or a cost loaded CPM schedule when required, supported to the extent reasonably required by the Principal Representative by receipts or other vouchers, showing payments for materials and labor, prior payments and payments to be made to Subcontractors and such other evidence of the Design/Build Entity’s right to payments as the Principal Representative may direct. If payments are made on account of materials not incorporated in the Work but delivered and suitably stored at the site, or at some other location agreed upon in writing, such payments shall be conditioned upon submission by the Design/Build Entity of bills of sale or such other procedure as will establish the Principal Representative’s title to such material or otherwise adequately protect the Principal Representative’s interests, and shall provide proof of insurance whenever requested by the Principal Representative and shall be subject to the right to inspect the materials at the request of the Principal Representative. All applications for payment, except the final application, and the payments there under, shall be subject to correction in the next application rendered following the discovery of any error. ▇. ARCHITECT/ENGINEER CERTIFICATION The Architect/Engineer after appropriate observation of the progress of the Work shall certify to the Principal Representative the amount that the Design/Build Entity is entitled to on the certificate for Design/Build Entity’s payment. C. RETAINAGE WITHHELD Unless otherwise provided in the Supplementary General Conditions, an amount equivalent to five percent (5%) of the amount shown to be due the Design/Build Entity on each application for payment shall be withheld until the Work required by the Contract has been performed. The withheld percentage of the contract price of any such Work, improvement, or construction shall be administered according to § ▇▇-▇▇-▇▇▇, C.R.S., as amended, and as provided in § ▇▇-▇▇-▇▇-▇▇▇, C.R.S., as amended, and Article 31D, shall be retained until the Work or discrete portions of the Work, have been completed satisfactorily, finally or partially accepted, and advertised for final settlement as further provided in Article 41.

Applications for Payments. A. DESIGN/BUILD ENTITY‌ 31.1 CONTRACTOR’S SUBMITTALS SUBMITTALS‌ On or before the first day of each month and no more than five days prior thereto, the Design/Build Entity Contractor may submit applications for payment for the Work performed during such month covering the portion of the Work completed as of the date indicated, and payments on account of this Contract shall be due per C.R.S. § 24-30-202(24) (correct notice of amount due), within forty-five (45) days of receipt by the Principal Representative of application for payments that have been certified by the Architect/Engineer. The Design/Build Entity Contractor shall submit the application for payment to the Principal Representative and the Architect/Engineer on State forms SBP-7.2, Certificate for Design/Build Entity’s Contractor's Payment, or such other format as the State Buildings Program shall approve, in an itemized format in accordance with the schedule of values or a cost loaded CPM schedule when required, supported to the extent reasonably required by the Architect/Engineer or the Principal Representative by receipts or other vouchers, showing payments for materials and labor, prior payments and payments to be made to Subcontractors and such other evidence of the Design/Build EntityContractor’s right to payments as the Architect/Engineer or Principal Representative may direct. If payments are made on account of materials not incorporated in the Work but delivered and suitably stored at the site, or at some other location agreed upon in writing, such payments shall be conditioned upon submission by the Design/Build Entity Contractor of bills of sale or such other procedure as will establish the Principal Representative’s title to such material or otherwise adequately protect the Principal Representative’s interests, and shall provide proof of insurance whenever requested by the Principal Representative or the Architect/Engineer, and shall be subject to the right to inspect the materials at the request of either the Architect/Engineer or the Principal Representative. All applications for payment, except the final application, and the payments there under, shall be subject to correction in the next application rendered following the discovery of any error. ▇. 31.2 ARCHITECT/ENGINEER CERTIFICATION The CERTIFICATION‌ In accordance with the Architect/Engineer’s agreement with the Principal Representative, the Architect/Engineer after appropriate observation of the progress of the Work shall certify to the Principal Representative the amount that the Design/Build Entity Contractor is entitled to, and forward the application to on the certificate Principal Representative. If the Architect/Engineer certifies an amount different from the amount requested or otherwise alters the Contractor’s application for Designpayment, a copy shall be forwarded to the Contractor. If the Architect/Build Entity’s paymentEngineer is unable to certify all or portions of the amount requested due to the absence or lack of required supporting evidence, the Architect/Engineer shall advise the Contractor of the deficiency. If the deficiency is not corrected at the end of ten (10) days, the Architect/Engineer may either certify the remaining amounts properly supported to which the Contractor is entitled, or return the application for payment to the Contractor for revision with a written explanation as to why it could not be certified. C. 31.3 RETAINAGE WITHHELD WITHHELD‌ Unless otherwise provided in the Supplementary General Conditions, an amount equivalent to five percent (5%) of the amount shown to be due the Design/Build Entity Contractor on each application for payment shall be withheld until the Work required by the Contract has been performed. The withheld percentage of the contract price of any such Work, improvement, or construction shall be administered according to C.R.S. § ▇▇-▇▇-▇▇▇, C.R.S., as amended, and as provided in C.R.S. § ▇▇-▇▇-▇▇-▇▇▇, C.R.S., as amended, and Article 31D31.4, shall be retained until the Work or discrete portions of the Work, have been completed satisfactorily, finally or partially accepted, and advertised for final settlement as further provided in Article 41.