Final Payment and Acceptance Clause Samples

Final Payment and Acceptance. If OWNER is satisfied that the Work has been completed and DESIGN/BUILDER’s other obligations under the Contract Documents have been fulfilled, OWNER will, within ten (10) days after receipt of the final Application for Payment, give written notice to DESIGN/BUILDER that the Work is acceptable. Otherwise, OWNER will return the Application to DESIGN/BUILDER, indicating in writing the reasons for refusing to process final payment, in which case DESIGN/BUILDER shall make the necessary corrections and resubmit the Application. Thirty (30) days after the presentation to OWNER of the acceptable Application and accompanying documentation, in appropriate form and substance and with OWNER’s notice of acceptability, the amount will become due and will be paid by OWNER to DESIGN/BUILDER.

Final Payment and Acceptance. After receipt of the Final Payment Application , the provisions of the aforesaid Section 15.3.2 (MWC Review of Payment Application) shall apply upon MWC's review of the application mutatis mutandis.

Final Payment and Acceptance. 22.1. If, on the basis of Project Manager's observation of the Work during construction and final inspection, and Project Manager's review of the final Application for Payment and accompanying documentation as required by the Contract Documents, Project Manager is satisfied that the Work has been completed and Contractor's other obligations under the Contract Documents have been fulfilled, Project Manager will, within FOURTEEN days after receipt of the final Application for Payment, indicate in writing Project Manager's recommendation of payment and present the Application to the City Council for payment. At the same time Project Manager will also give written notice to Contractor that the Work is acceptable. Otherwise, Project Manager will return the Application to Contractor, indicating in writing the reasons for refusing to recommend final payment, in which case Contractor shall make the necessary corrections and resubmit the Application. Upon receipt of the Project Manager's recommendation for payment and the final Application for Payment, the City shall order the publication of Notice of Final Payment as required by C.R.S. '38-26-107(1) and shall make final payment in accordance with C.R.S. '38-26-107(3).

Final Payment and Acceptance. 12.6.1. If the Professional is satisfied that the Work, or a part of the Work for which separate final payment is specified in the Contract Documents, has been completed and the Contractor's other obligations under the Contract Documents have been fulfilled, the Professional will, within thirty (30) Calendar Days after receipt of the final payment request, furnish to the Owner and Contractor the Professional's certification of final payment and acceptance. If the Professional is not satisfied, the Professional will return that request to the Contractor, indicating in writing the reasons for not certifying final payment, in which case the Contractor shall make the necessary corrections and request that final payment again be considered. 12.6.2. If the Owner concurs with the Professional's certification of final payment, the Owner will, within thirty (30) Calendar Days after receipt by the Owner of the Professional's certified recommendation of final acceptance, pay the balance of the Contract Price, subject to those provisions governing final payment specified in the Contract Documents. If the Owner does not concur with the Professional's determination, the Owner will return the request for final payment to the Contractor indicating in writing the reasons for refusing final payment and acceptance. In that case, the Contractor shall make the necessary corrections and shall request that final payment be again considered by the Owner. The Owner's written determination will be binding upon the Contractor, unless the Contractor delivers a notice of a claim and a claim Submittal within the deadlines set forth in Article 15. 12.6.3. If final completion of the Work is significantly delayed through no fault of the Contractor, the Owner may, upon receipt of the Contractor's final Request for Payment, and without terminating the Agreement, make payment of the balance due for that portion of the Work fully completed and accepted. Payment of the balance due shall be made under the provisions for final payment, but shall not constitute a waiver of claims. 12.6.4. The Owner shall pay with reasonable promptness any amounts deducted from the final payment, upon resolution of the claims justifying withholding of such monies.

Final Payment and Acceptance. ‌ A. If, on the basis of observation of the Work by CITY REP during construction and final inspection and review of the final Application for Payment and accompanying documentation by CITY REP and the Project Designer, all as required by the Contract Documents, CITY is satisfied that the Work has been completed and CONTRACTOR has fulfilled all of its obligations under the Contract Documents, CITY REP, with the concurrence and assistance of the Project Designer, shall within ten days after receipt of the final Application for Payment, indicate in writing a recommendation for payment and present the Application to CITY for payment. Thereupon, the Project Designer will give written notice to CITY and CONTRACTOR that the Work is acceptable subject to the provisions of Paragraph 15.8. Otherwise, CITY REP will return the Application to CONTRACTOR indicating in writing the reasons for refusing to recommend final payment, in which case CONTRACTOR shall make the necessary corrections and resubmit the Application. If the Application and accompanying documentation are appropriate as to form and substance, and the CITY finds the Work has been completed according to the Contract, the CITY shall accept the Work, shall file a notice of completion, and shall pay the entire sum so found to be due as recommended by the CITY REP, after deducting therefrom all previous payments and all amounts to be retained under the provisions of the Contract. All prior progress estimates and payments shall be subject to correction in the final estimate and payment. The final payment shall be due and payable within sixty (60) days from the date of filing a notice of completion of the Work by the CITY. B. If, through no fault of CONTRACTOR, final completion is materially delayed and if CITY REP so confirms, CITY shall, upon receipt of CONTRACTOR'S final Application for Payment and recommendation of the Project Designer, and without terminating the Contract, make payment of the balance due for that portion of the Work fully completed and accepted. If the remaining balance to be held by CITY for Work not fully completed or corrected is less than the retainage stipulated in the Contract, and if bonds have been furnished as required in Paragraph 5 the written consent of the Surety to the payment of the balance due for the portion of the Work fully completed and accepted shall be submitted by CONTRACTOR to CITY REP with CONTRACTOR’S Application for such payment. Such payment shall be made under t...

Final Payment and Acceptance. If Owner is satisfied that the Work has been completed and Design/Builder’s other obligations under the Contract Documents have been fulfilled, Owner will, within ten days after receipt of the final Application for Payment, give written notice to Design/Builder that the Work is acceptable. Otherwise, Owner will return the Application to Design/Builder, indicating in writing the reasons for refusing to process final payment, in which case Design/Builder shall make the necessary corrections and resubmit the Application.

Final Payment and Acceptance. If OWNER is satisfied that the Work has been completed and DESIGN/BUILDER's other obligations under the Contract Documents have been fulfilled, OWNER will, within ten (10) days after receipt of the final Application for Payment, give written notice to DESIGN/BUILDER that the Work is acceptable. Otherwise, OWNER will return the Application to DESIGN/BUILDER, indicating in writing the reasons for refusing to process final payment, in which case DESIGN/BUILDER shall make the necessary corrections and resubmit the Application. Thirty (30) days after the presentation to OWNER of the acceptable Application and accompanying documentation, in appropriate form and substance and with OWNER's notice of acceptability, the remaining Contract Price less $* will become due and will be paid by OWNER to DESIGN/BUILDER. The $* will become due upon receipt by OWNER of a satisfactory verbal or written emissions compliance report from a third party mutually selected by OWNER and DESIGN/BUILDER confirming regulatory compliance of the air emissions performance tests prescribed by the applicable Department of Environmental Quality or similar agency for the State of Kansas. *OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT WHICH HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

Final Payment and Acceptance. After receipt of the Final Payment Application, the provisions of the aforesaid Section 15.5.2 (MWC Review of Payment Application) shall apply upon MWC's review of the application mutatis mutandis. In the event MWC's responds as per the provisions of the aforesaid Section 15.5.2.2, the Supplier will promptly take such actions as are necessary to satisfy the outstanding obligations referred to by MWC. Once the Supplier has satisfied all such obligations, the Supplier will deliver an amended Final Payment Application. Payment made to the Supplier under this Section 15.5.4 (Final Payment and Acceptance), shall not relieve the Supplier from any of its obligations or liabilities under the Contract.

Final Payment and Acceptance. 8.8.1 If, on the basis of the Architect's observation of the Work and final inspection, and his review of the final Application for Payment, the Architect is satisfied that the Work, or specified part of the Work, has been completed and the Contractor's other obligations under the Contract Documents have been fulfilled, the Architect will, within thirty (30) days after receipt of the final Application for Payment, furnish to the Official and the Contractor the Architect's recommendation of acceptance. If not satisfied, the Architect will return the Application to the Contractor indicating in writing the reasons for not recommending final payment and acceptance, in which case the Contractor shall make the necessary corrections and resubmit the Application. 8.8.2 After the receipt of an Application for final payment, and within sixty-five (65) days after (a) the Contractor fully completes the Work or substantially completes the Work so that the value of the Work remaining to be done is, in the estimate of the Official, less than one percent (1%) of the original Contract Price, or (b) the Contractor substantially completes the Work and the City takes possession for occupancy, whichever occurs first, the City shall pay the Contractor the entire balance due on the Contract less (1) a retention based on its estimate of the fair value of its claims against the Contractor and of the cost of completing the incomplete and unsatisfactory items of work and less (2) a retention for direct payments to Subcontractors based on demands for same in ac- cordance with the provisions of M.G.L. Chapter 30, §39F, or based on the record of payments by the Contractor to the Subcontrac- tors under this Contract if such record of payment indicates that the Contractor has not paid Subcontractors as provided in §39F. 8.8.3 If the City fails to make payment as provided for in Paragraph 8.8.2, there shall be added to each such payment daily interest at the rate of three percentage points above the rediscount rate then charged by the Federal Reserve Bank of ▇▇▇▇▇▇ commencing on the first day after said payment is due and continuing until the payment is delivered or mailed to the Contractor; provided, that no interest shall be due, in any event, on the amount due on an Application for final payment until fifteen (15) days after receipt of such an Application from the Contractor. The Contractor agrees to pay to each Subcontractor a portion of any such interest paid in accordance with the a...