Common use of Compensation for work Clause in Contracts

Compensation for work. Contractor’s total compensation for the Work performed under this Agreement (Contract Sum) is $ , to be paid as (check one): (1) √ lump sum; (2)  lump sum with progress payments; (3)  per attached schedule of rates and charges, up to a guaranteed not-to-exceed amount of $ . All payments (check one): √ shall  shall not be subject to a five percent (5%) retention.

Compensation for work. Contractor’s total compensation for the Work performed under this Agreement (Contract Sum) is $ one hundred forty three thousand five hundred twenty dollars ($143,520.00) , to be paid as (check one): (1) √  lump sum; (2)   lump sum with progress payments; (3)  per attached schedule of rates and charges, up to a guaranteed not-to-exceed amount of $ . All payments (check one): √  shall  shall not be subject to a five percent (5%) retention.