Final Acceptance and Payment Clause Samples

The 'Final Acceptance and Payment' clause establishes the conditions under which the completed work or deliverables are formally accepted by the client and the final payment is released to the contractor or service provider. Typically, this clause outlines the process for inspection, any required documentation or certifications, and the timeframe within which the client must either accept the work or notify of any deficiencies. Its core practical function is to ensure that both parties have a clear understanding of when obligations are fulfilled and payment is due, thereby reducing disputes over project completion and financial settlement.
POPULAR SAMPLE Copied 1 times
Final Acceptance and Payment. Upon receipt of written notice that the Work is ready for Final Inspection and upon receipt of a Final Application for Payment, the Architect shall promptly inspect the Work. When the Architect and Owner find the Work acceptable under the Contract Documents and the Contract fully performed, the Architect shall issue a Certificate for Final Payment. Neither final payment nor any remaining retainage shall become due until the Contractor submits to the Architect all information required in the Contract Documents, including, but not limited to, warranties, as-built plans, and operation and maintenance manuals. Furthermore, final payment, nor any remaining retainage, shall be due until the Contractor executes and presents to the Owner a ‟Certificate of Claims Paid” and ‟Release of all Claims” form in such a form as may be acceptable to the Owner. Acceptance of final payment by the Contractor shall comprise a release of all claims under the Contract, and receipt of which acknowledges full and complete payment for all Work done, materials and equipment furnished, and damages or claims arising under this Agreement.
View SourceView Similar (16)
Final Acceptance and Payment. § 9.10.2.1 Neither final payment nor any remaining retained percentage shall become due until the Owner has formally accepted the Project. To achieve final acceptance, the Owner must issue a Certificate of Final Completion and a final Certificate for Payment under Section 9.10.1, a final occupancy permit must have been issued or all governmental inspections necessary for use and occupancy must have been unconditionally made and passed (as applicable), and the Design-Builder submits to the Owner (1) an affidavit that all payrolls, bills for materials and equipment, and other indebtedness connected with the Work, for which the Owner or the Owner’s property might in anyway be responsible or encumbered have been paid or otherwise satisfied, except for any claims of subcontractors of any tier that are specifically identified on the affidavit; (2) a certificate evidencing that insurance required by the Design-Build Documents shall remain in force 30 days after final payment is due is currently in effect and will not be canceled or allowed to expire until at least 30 days’ prior written notice has been given to the Owner; (3) a written statement that the Design-Builder knows of no substantial reason that the insurance will not be renewable to cover the period required by the Design-Build Documents, (4) consent of surety, if any, to final payment, (5) as-constructed record copy of the Design-Build Documents marked to indicate field changes and selections made during construction, (6) All manufacturer’s warranties, guarantees, product data, maintenance and operations manuals, operation instructions, certificates, spare parts, maintenance stock, specified excess material, and other documents or items required by the Design-Build Documents (7) Certification that the materials in the Work are “lead-free” and “asbestos-free”; (8) Originals of all permits, licenses and certificates, together with a certified statement that the Design-Builder has closed all necessary permits or otherwise met the requirements of all governing jurisdictions related to this project, including but not limited to all city or county departments, health Owners and utility Owners, provided to Owner with a copy of all closed or signed off permits, (9) Proof satisfactory to Owner that the Design-Builder has fully complied with the requirements of ORS 279C.845(7) (10) That, if the Design-Builder is not domiciled in or registered to do business in the State of Oregon, the Design-Builder has complied...
View SourceView Similar (4)
Final Acceptance and Payment. A. Following the Agency’s acceptance of the Work, the Contractor shall submit to the Agency a detailed Project accounting as detailed in the Contract. B. When the Work has been accepted there shall be paid to Contractor a sum equal to the Contract Price less any amounts previously paid Contractor and less any amounts withheld by the Agency from Contractor under the terms of the Contract. The final five percent (5%), or the percentage specified in the Notice Inviting Bids where the Agency has adopted a finding of substantially complete, shall not become due and payable until as required by Public Contract Code section 7107. If the Contractor has placed securities with the Agency as described herein, the Contractor shall be paid a sum equal to one hundred percent (100%) of the Contract Price less any amounts due the Agency under the terms of the Contract. C. Unless Contractor advises the Agency in writing prior to acceptance of the final five percent (5%) or the percentage specified in the Contract Documents where the Agency has adopted a finding of completion, or the return of securities held as described herein, said acceptance shall operate as a release to the Agency of all claims and all liability to Contractor for all things done or furnished in connection with this Work and for every act of negligence of the Agency and for all other claims relating to or arising out of this Work. If Contractor advises the Agency in writing prior to acceptance of final payment or return of the securities that there is a dispute regarding the amount due the Contractor, the Agency may pay the undisputed amount contingent upon the Contractor furnishing a release of all undisputed claims against the Agency with the disputed claims in stated amounts being specifically excluded by Contractor from the operation of the release. No payments, however, final or otherwise, shall operate to release Contractor or its sureties from the faithful performance bond, labor and material payment bond, or from any other obligation under this Contract. D. In case of termination of the Contract any unpaid balance shall be and become the sole and absolute property of the Agency to the extent necessary to repay the Agency any excess in the cost of the Work above the Contract Price. E. Final payment shall be made no later than 60 Days after the date of acceptance of the Work by the Agency or the date of occupation, beneficial use and enjoyment of the Work by the Agency including any operation only...
View SourceView Similar (2)
Final Acceptance and Payment. The date of Final Acceptance and Payment will be determined after all equipment has been delivered and is accepted. The equipment must meet all required specifications (Section 3.2) and be in new and working condition, clearly not damaged. Within fifteen (15) business days of delivery at each location, VSCSD will conduct a final inspection of each item, and, upon VSCSD’s approval, a Final Acceptance Notification will be issued to the vendor.
View Source
Final Acceptance and Payment. (a) FedEx's final acceptance of the Work ("Final Acceptance") will occur only after (i) Contractor finally completes the Work in its entirety (including punch list items), (ii) FedEx accepts the Work in a written notice to Contractor, and (iii) Contractor provides FedEx with instruction and operating manuals, parts lists, "as-built" drawings and all other items that the terms of the Contract Documents require.
View Source
Final Acceptance and Payment. The Contract Administrator will provide written Final Acceptance of the Artwork and release final payment to Artist only after all of the following have been completed: (i) the Final Completion Report; (ii) receipt from Artist, in a format acceptable to the Contract Administrator, of all reasonably requested information pertaining to the Artwork including, but not limited to, photographic documentation, maintenance and conservation requirements, economic impact information, and technical specifications; (iii) completion by Artist of any outstanding educational outreach to the extent stated in the Scope of Services; (iv) County’s Risk Management Division has arranged for the appropriate insurance of the Artwork, if any; and (v) final payment has been authorized by the Committee and Council.
View Source
Final Acceptance and Payment. A. Final acceptance is stipulated to mean a written acceptance by the Contracting Authority. The Contracting Authority shall make final acceptance promptly upon the satisfactory completion of the work. Final payment shall be made as soon as possible following the expiration of statutory time for filing claims, or following adjudication or release of claims against the amount withheld. B. Failure to make final payment within 70 days after completion of the work, and if all requirements of the contract are completed, will cause interest to accrue and additional payment therefor to be made in accordance with provisions of Chapter 573, Code of Iowa, subject to limitations included therein, however, this provision shall not apply when final payment includes a supplemental contract for work interrupted, as provided for in 1109.07. C. Completion of the work will be considered as the date of approval and work acceptance by the Contracting Authority. When interest is to be paid, the date from which interest is to be calculated will be the thirty-first day after all required materials, certifications, and other documentation required to be submitted by the Contractor are received by the Engineer, however, the Contractor will be paid no interest if final payment is made within 70 days from the date of approval and work acceptance. The signed final payment request is not required documentation, but if not returned to the Engineer within 30 days, it will be considered required documentation. D. Signing of the final payment request or acceptance of payment based thereon, shall not waive any rights of either party in the resolution of any claim filed in accordance with 1109.12. E. The Contracting Authority shall satisfy itself as to the faithful completion of each part of the work, and may reject any portion found to be inconsistent with the terms of the contract.
View Source
Final Acceptance and Payment. 3.6.1 The Contractor shall notify the Architect/Engineer and Owner’s Project Manager and Owner’s Construction Inspector, in writing that the Work will be ready for final acceptance verification on a definite date, a minimum of ten (10) calendar days prior to such proposed date. 3.6.2 In addition to requirements noted for Substantial Completion in the UGC and Section 01 77 00 – Project Closeout Procedures, final payment and/or release of remaining retainage requires submission of the following:
View Source

Related to Final Acceptance and Payment

  • ACCEPTANCE AND FINAL PAYMENT Upon written notice to the Owner

  • Measurement and Payment Temporary traffic control work, including, but not limited to installation and removal of portable signs, cones, drums, skinny drums, flaggers, AFAD’s, changeable message boards, truck mounted attenuators, flashing arrow boards, and pilot vehicles will be paid at the contract lump sum price for

  • Invoicing and Payment All work performed by the Contractor must be approved in advance by the State. Once work has been completed, delivered and accepted by the State, invoicing can occur. The State’s payment terms are net 30 days. SOW-RFP PROJECT NAME: PRICE PROPOSAL: $ _ COMPLETION DATE: ACKNOWLEDGEMENT OF ADDENDUMS (IF APPLICABLE) 1.

  • INVOICE AND PAYMENT A. Grantee will request payment using the State of Texas Purchase Voucher (Form B-13) on a monthly basis and acceptable supporting documentation for reimbursement of the required services/deliverables. Additionally, the Grantee will submit the Financial Status Report (FSR-269A) and the Match Certification Form (B-13A). Vouchers, supporting documentation, Financial Status Reports, and Match Certification Forms should be mailed or emailed to the addresses below. Department of State Health Services Claims Processing Unit, MC 1940 ▇▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ P.O. Box 149347 Austin, TX ▇▇▇▇▇-▇▇▇▇ FAX: (▇▇▇) ▇▇▇-▇▇▇▇ EMAIL: ▇▇▇▇▇▇▇▇@▇▇▇▇.▇▇▇▇▇.▇▇▇, ▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇@▇▇▇▇.▇▇▇▇▇.▇▇▇ & ▇▇▇▇▇▇▇▇▇▇▇@▇▇▇▇.▇▇▇▇▇.▇▇▇ B-13, B-13A, and supporting documentation should be sent to: ▇▇▇▇▇▇▇▇@▇▇▇▇.▇▇▇▇▇.▇▇▇, ▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇@▇▇▇▇.▇▇▇▇▇.▇▇▇ & ▇▇▇▇▇▇▇▇▇▇▇@▇▇▇▇.▇▇▇▇▇.▇▇▇ FSRs should be sent to: ▇▇▇▇▇▇▇▇@▇▇▇▇.▇▇▇▇▇.▇▇▇, ▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇@▇▇▇▇.▇▇▇▇▇.▇▇▇, ▇▇▇▇▇▇▇▇▇@▇▇▇▇.▇▇▇▇▇.▇▇▇ & ▇▇▇▇▇▇▇▇▇▇▇@▇▇▇▇.▇▇▇▇▇.▇▇▇ B. Grantee will be paid on a monthly basis and in accordance with Attachment B, Budget. C. System Agency reserves the right, where allowed by legal authority, to redirect funds in the event of financial shortfalls. System Agency will monitor ▇▇▇▇▇▇▇’s expenditures on a quarterly basis. If expenditures are below that projected in Grantee’s total Contract amount, ▇▇▇▇▇▇▇’s budget may be subject to a decrease for the remainder of the Term of the Contract. Vacant positions existing after ninety days may result in a decrease in funds. ▇. ▇▇▇▇▇▇▇ may request a one-time working capital advance not to exceed 12% of the total amount of the Contract funded by System Agency. All advances must be expended by the end of the Contract term. Advances not expended by the end of the Contract term must be refunded to System Agency. ▇. ▇▇▇▇▇▇▇ will repay all or part of advance funds at any time during the Contract’s term. However, if the advance has not been repaid prior to the last three months of the Contract term, the Grantee must deduct at least one-third of the remaining advance from each of the last three months’ reimbursement requests. If the advance is not repaid prior to the last three months of the Contract term, System Agency will reduce the reimbursement request by one- third of the remaining balance of the advance.