Cost Reimbursable Milestone Payment Method Sample Clauses

The Cost Reimbursable Milestone Payment Method is a contractual provision that outlines how payments are made to a contractor based on the actual costs incurred, with payments tied to the achievement of specific project milestones. Under this method, the contractor submits documentation of allowable expenses as each milestone is completed, and the client reimburses these costs up to an agreed limit. This approach ensures that the contractor is compensated for work performed while providing the client with control over expenditures and progress, thereby reducing the risk of overpayment and promoting accountability throughout the project.
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Cost Reimbursable Milestone Payment Method. (with not to exceed ceiling): Payment is contingent upon satisfactory progress toward completion of milestones as delineated in Project Agreement. Payment shall be made based on actual costs incurred in completing milestones up to the maximum amount allowable under the applicable Project Agreement, provided the designated AOR has verified compliance with the Statement of Work and accomplishment of the stated effort. Per (ii) below, either a Status Report identifying any associated technical tasks and the progress toward completion of each milestone, a Deliverable Report, or a Milestone Report is required concurrent with the invoice. An acceptable invoice for reimbursable payment is one that (on the invoice or on the attached Status, Deliverable, or Milestone Report in accordance with each Project Task Assignment): (i) contains the date of invoice and the Base Agreement number and Project Agreement number; (ii) identifies any associated technical milestones and the progress toward completion of each milestone; (iii) includes a description of supplies and services, labor costs, subcontractor costs, material costs, travel costs, other direct costs, and extended totals; (iv) indicates the current period and cumulative man-hours and costs incurred through the period indicated on the invoice; and (v) contains the following certification statement: “I certify that the amounts invoiced are for costs incurred in accordance with the agreement, the work reflected has been performed, and prior payment has not been received.” Authorized Signature
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Cost Reimbursable Milestone Payment Method. (with not to exceed ceiling): Payment is contingent upon satisfactory progress toward completion of milestones as delineated in Attachment 3. Payment shall be made based on actual costs incurred in completing milestones up to the maximum amount allowable under this Agreement, provided the designated Program Technical Representative has verified compliance with the Statement of Work and accomplishment of the stated effort. The Recipient will normally fund any costs incurred above this maximum amount. Either a Status Report identifying any associated technical tasks and the progress toward completion of each milestone, a Deliverable Report, or a Milestone Report is required concurrent with the invoice. An acceptable invoice for reimbursable payment is one that (on the invoice or on the attached Status, Deliverable, or Milestone Report required by Attachment 2): contains the date of invoice and agreement number; identifies any associated technical milestones and the progress toward completion of each milestone; includes a discussion of the cost share expended towards the accomplishment of the tasks and/or milestone (this cost share discussion may be attached to the invoice if contractor practices make inclusion of such information on the invoice itself impractical); includes a description of supplies and services, labor costs, subcontractor costs, material costs, travel costs, other direct costs, and extended totals; and indicates the current period and cumulative manhours and costs incurred through the period indicated on the invoice. contains the following certification statement: “I certify that the amounts invoiced are for costs incurred in accordance with the agreement, the work reflected has been performed, and prior payment has not been received.” Authorized Signature _________________________________________ Submission of Invoices: Invoices may be submitted no more frequently than monthly. The Recipient shall send the invoice electronically to Advanced Technology International at ▇▇▇▇▇▇▇▇@▇▇▇▇.▇▇▇. The designated Program Technical Representative (PTR), within ten (10) working days after receipt of each status, deliverable, or milestone report, will either: (i) verify the accomplishment of the technical effort(s) and approve in writing (email is acceptable) the status, deliverable, or milestone report; or (ii) notify the Recipient of the reason for not signing off on the status, deliverable, or milestone report. The 10 days review by the PTR is part of...
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Cost Reimbursable Milestone Payment Method. (with not to exceed ceiling): Payment is contingent upon satisfactory progress toward completion of milestones as delineated in Prototype Award. Payment shall be made based on actual costs incurred in completing milestones up to the maximum amount allowable under the applicable Prototype Award, provided the designated AOTR has verified compliance with the Statement of Work and accomplishment of the stated effort. Per (ii) below, either a Status Report identifying any associated technical tasks and the progress toward completion of each milestone, a Deliverable Report, or a Milestone Report is required concurrent with the invoice. An acceptable invoice for reimbursable payment is one that (on the invoice or on the attached Status, Deliverable, or Milestone Report in accordance with each Prototype Award):
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Cost Reimbursable Milestone Payment Method. (estimated cost ceiling): Payment is contingent upon satisfactory progress toward completion of milestones as delineated in Prototype Award. Payment shall be made based on actual costs incurred in completing milestones up to the maximum amount allowable under the applicable Prototype Award, provided the designated AOTR has verified compliance with the Statement of Work and accomplishment of the stated effort. Per (ii) below, either a Status Report identifying any associated technical tasks and the progress toward completion of each milestone, a Deliverable Report, or a Milestone Report is required concurrent with the invoice. An acceptable invoice for reimbursable payment is one that (on the invoice or on the attached Status, Deliverable, or Milestone Report in accordance with each Prototype Award): i. contains the date of invoice and invoice number; ii. contains the Base Agreement number and Prototype Award number; iii. is addressed to: Advanced Technology International ▇▇▇ ▇▇▇▇▇ ▇▇. ▇▇▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ iv. identifies any associated technical milestones and the progress toward completion of each milestone; v. includes a current period description of supplies and services, labor costs, subcontractor costs, material costs, travel costs, other direct costs, and extended totals;
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Cost Reimbursable Milestone Payment Method. ( estimated cost ceiling): Payment is contingent upon satisfactory progress toward completion of milestones as delineated in Prototype Award. Payment shall be made based on actual costs incurred in completing milestones up to the maximum amount allowable under the applicable Prototype Award, provided the designated AOTR has verified compliance with the Statement of Work and accomplishment of the stated effort. Per (ii) below, either a Status Report identifying any associated technical tasks and the progress toward completion of each milestone, a Deliverable Report, or a Milestone Report is required concurrent with the invoice. An acceptable invoice for reimbursable payment is one that (on the invoice or on the attached Status, Deliverable, or Milestone Report in accordance with each Prototype Award): i. contains the date of invoice and the Base Agreement number and Prototype Award number; ii. identifies any associated technical milestones and the progress toward completion of each milestone; iii. includes a current period description of supplies and services, labor costs, subcontractor costs, material costs, travel costs, other direct costs, and extended totals;
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Related to Cost Reimbursable Milestone Payment Method

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  • Sales Milestone Payments Artiva shall make the following one-time, non-refundable and non-creditable sales milestone payments to GCLC when the aggregate annual Net Sales of Products in the Territory first reach the thresholds specified below. Artiva shall notify GCLC promptly of the achievement of each such sales threshold. Each sales milestone payment shall be made by Artiva within [***] days after the end of the calendar quarter in which such sales threshold is achieved. To the extent more than one sales threshold is reached in any given calendar year, then the applicable milestone payment for each such achievement shall be due and owing with respect to such calendar year. For clarification, the total milestone payments payable hereunder if all milestone events are achieved is [***].

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  • Milestone Payment The first time Net Sales in the Territory in a Royalty Period exceed [***] [***]

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