Common use of Estimates and Payments Clause in Contracts

Estimates and Payments. 13.1 As the Services progresses but not more often than once a month and then on such days as the Town shall direct, the Contractor will submit a requisition in writing of the amount and value of the work performed and the materials and equipment provided to the date of the requisition, less any amount previously paid to the Contractor. 13.2 As a condition to the making of any progress payment as set forth in this paragraph, the Town, in its sole discretion may require the Contractor to submit such document as may be reasonably required. 13.3 Together with its application for payment, the Contractor shall also deliver to the Town a verified statement certifying that all claims or liabilities arising from the work completed to date, including all charges for Extra Work, Change Orders, additional time, damages or credits (collectively referred to as "claims") have been presented to the Town. All such claims shall be described in sufficient detail so as to be easily identified. The Contractor's failure to include an item on the verified statement of which the Contractor has knowledge shall constitute a full and final waiver of all such claims against the Town from the beginning of the Agreement term through the date of application for payment. The presentation of the verified statement to the Town shall not constitute an acknowledgement by the Town that any such claim is valid. The Town expressly reserves its right to assert that any such claim(s) is waived or precluded by reason of other provisions of the Agreement. Only claims particularly identified on the Contractor's verified statement shall be preserved; all other claims whatever nature shall be deemed waived and released. It shall also submit proof of title of the materials and equipment covered by the contract.