Common use of Cost Reimbursable Milestone Payment Method Clause in Contracts

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 the overall 30-day cycle for processing invoices described above under the heading Payment Terms. If the PTR is unavailable or fails to act as described above, Advanced Technology International will make the payment decision on the tenth day. Payment approval for invoices will be made after reconciliation of Advanced Technology International funding with actual Recipient cost share contributions. The Recipient’s final invoice (completion invoice) will be clearly indicated as such and shall indicate the cumulative amounts (by cost element) incurred and billed to completion, and a written certification of the total hours expended. Actual project costs incurred and cost share performance of each project shall be reported and reviewed each quarter.

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 the overall 30-day cycle for processing invoices described above under the heading Payment Terms. If the PTR is unavailable or fails to act as described above, Advanced Technology International will make the payment decision on the tenth day. Payment approval for invoices will be made after reconciliation of Advanced Technology International funding with actual Recipient cost share contributions. The Recipient’s final invoice (completion invoice) will be clearly indicated as such and shall indicate the cumulative amounts (by cost element) incurred and billed to completion, and a written certification of the total hours expended. Actual project costs incurred and cost share performance of each project shall be reported and reviewed each quarter.

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 the overall 30-day cycle for processing invoices described above under the heading Payment Terms. If the PTR is unavailable or fails to act as described above, Advanced Technology International SCRA Applied R&D will make the payment decision on the tenth day. Payment approval for invoices will be made after reconciliation of Advanced Technology International SCRA Applied R&D funding with actual Recipient cost share contributions. The Recipient’s final invoice (completion invoice) will be clearly indicated as such and shall indicate the cumulative amounts (by cost element) incurred and billed to completion, and a written certification of the total hours expended. Actual project costs incurred and cost share performance of each project shall be reported and reviewed each quarter.