Final Payment Review Clause Samples

The Final Payment Review clause establishes the process by which the final payment on a contract is assessed and approved. Typically, this involves a thorough review of the completed work or delivered goods to ensure all contractual obligations have been met before the last payment is released. For example, the client may inspect the project, verify that all deliverables are satisfactory, and confirm that no outstanding issues remain. This clause ensures that the paying party has a formal opportunity to verify completion and quality, thereby protecting against premature or unwarranted final payments.
Final Payment Review. Owner or its accountants will review and report in writing on the CM/GC's final accounting within 30 Days after delivery of the final accounting by the CM/GC. Based upon such Cost of the Work as Owner or Owner's accountants report to be substantiated by the CM/GC's final accounting, and provided the other conditions of this Contract have been met, the Owner’s Authorized Representative will, within 10 Days after receipt of the written report of Owner's accountants, either issue to Owner an approval of CM/GC’s final application for payment with a copy to the CM/GC or notify the CM/GC and Owner in writing of the Owner’s Authorized Representative's reasons for withholding approval of any part of the application for payment, which disapproval shall include Owner’s Authorized Representative’s estimate of the amount that is due Contractor under the application for payment.
View SourceView Similar (21)
Final Payment Review. Owner or its accountants will review and report in writing on the CM/GC's final accounting within 30 Days after delivery of the final accounting by the CM/GC. Based upon such Cost of the Work as Owner or Owner's accountants report to be substantiated by the CM/GC's final accounting, and provided the other conditions of the Contract have been met, the Owner’s Authorized Representative will, within 10 Days after receipt of the written report of Owner's accountants, either issue to Owner an approval of CM/GC’s final application for payment with a copy to the CM/GC or notify
View SourceView Similar (10)
Final Payment Review. Owner or its accountants will review and report in writing on Contractor’s final accounting within 30 days after it is submitted to Owner by Contractor. Contingent upon the other conditions of the Contract having been met, Owner’s Authorized Representative will, within 10 Business Days after receipt of the written report of Owner’s accountants, either issue to Owner an approval of Contractor’s final application for payment with a copy to Contractor, or notify Contractor and Owner in writing of Owner’s Authorized Representative’s reasons for withholding approval of any part of the application for payment, which disapproval shall include Owner’s Authorized Representative’s estimate of the amount that is due Contractor under the application for payment.
View SourceView Similar (4)
Final Payment Review. City or its accountants will review and report in writing on the CM/GC's final accounting within twenty (20) business days after delivery of the final accounting by the CM/GC. Based upon such Cost of the Work as City or City's accountants report to be substantiated by the CM/GC's final accounting, and provided the other conditions of the Contract have been met, the City’s Authorized Representative will, within ten (10) business days after receipt of the written report of City's accountants, either issue to City an approval of CM/GC’s final application for payment with a copy to the CM/GC or notify the CM/GC and City in writing of the City’s Authorized Representative's reasons for withholding approval of any part of the application for payment, which disapproval shall include City’s Authorized Representative’s estimate of the amount that is due the CM/GC under the application for payment.
View Source
Final Payment Review. Owner or its accountants will review and report in writing on
View Source
Final Payment Review. City will review and report in writing on Contractor’s final accounting within thirty (30) Days after delivery of the final accounting by Contractor. Based upon such Cost of the Work as City reports to be substantiated by Contractor’s final accounting, and provided the other conditions of this Contract have been met, City’s Authorized Representative will, within ten (10) Days after receipt of the written report, either issue an approval of Contractor’s final application for payment to City with a copy to Contractor or notify Contractor and City in writing of City’s Authorized Representative’s reasons for withholding approval of any part of the application for payment, which disapproval will include City’s Authorized Representative’s estimate of the amount that is due to Contractor under the application for payment.
View Source

Related to Final Payment Review

  • Final Payment A. Upon final completion and acceptance of the Work in accordance with Paragraph 15.06 of the General Conditions, Owner shall pay the remainder of the Contract Price as recommended by Engineer as provided in said Paragraph 15.06.

  • Annual Payment During each calendar year, an employee may choose to receive payment for up to twenty (20) hours of accrued vacation leave or compensatory time. Request for payment may be made in November or December of each year. Such payment shall be made during the month of November or December and will be granted only if the employee has taken at least forty (40) hours of vacation/compensatory time during the calendar year. Such payment shall be at the base hourly rate only, no add-ons.

  • FINAL COMPLETION AND FINAL PAYMENT 9.9.1 Upon receipt of written notice that the Work is ready for final inspection and acceptance and upon receipt of a final Application for Payment, the Architect will promptly make such 9.9.2 Neither the final payment nor the remaining retained percentage shall become due until the Contractor submits to the Architect (1) an affidavit that all payrolls, bills for materials and equipment, and other indebtedness connected with the Work for which the State or its property might in any way be responsible, have been paid or otherwise satisfied; (2) consent of surety, if any, to final payment; (3) Other data establishing payment or satisfaction of all such obligations, including, but not limited to, receipts, releases, or other supporting documentation. and (4) final waivers of liens arising out of the Contract, to the extent and in such form as may be designated by the State. If any Subcontractor refuses to furnish a release or waiver required by the State, the Contractor may furnish a bond satisfactory to the State to indemnify him against any such lien. If any such lien remains unsatisfied after all payments are made, the Contractor shall refund to the State all moneys that the latter may be compelled to pay in discharging such lien, including all costs and reasonable attorneys' fees. 9.9.3 If, after Substantial Completion of the Work, final completion thereof is materially delayed through no fault of the Contractor or by the issuance of Change Orders affecting final completion, and the Architect so confirms, the State shall, upon application by the Contractor and certification by the Architect, 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 for Work not fully completed or corrected is less than the retainage stipulated in the Contract Documents, and if bonds have been furnished as required by the Contract Documents, the written consent of the surety to the payment of the balance due for that portion of the Work fully completed and accepted shall be submitted by the Contractor to the Architect prior to certification of such payment. Such payment shall be made under the terms and conditions governing final payment, except that it shall not constitute a waiver of claims. 9.9.4 The making of final payment shall constitute a waiver of all claims by the State except those arising from: (a) unsettled liens, (b) faulty or defective Work appearing after Substantial Completion, (c) failure of the Work to comply with the requirements of the Contract Documents, or (d) terms of any special warranties required by the Contract Documents. 9.9.5 The acceptance of final payment shall constitute a waiver of all claims by the Contractor except those previously made in writing and identified by the Contractor as unsettled at the time of the final Application for Payment.

  • Agreement Review If, pursuant to section 25.10 (Review of Agreement) of the Bilateral Agreement, the Bilateral Agreement is reviewed after three or five years, or both, of the effective date of the Bilateral Agreement, and any changes to the Bilateral Agreement are required as a result, the Parties agree to amend the Agreement as necessary and in a manner that is consistent with such changes.

  • Post Review With respect to each contract not governed by paragraph 2 of this Part, the procedures set forth in paragraph 4 of Appendix 1 to the Guidelines shall apply.