Common use of Initial Breakdown and Periodical Payments Clause in Contracts

Initial Breakdown and Periodical Payments. If payments are made on valuation of work done, such application shall be submitted at least ten days before each payment falls due. Before the first application, the Design-Builder shall submit to the Executive Administrator and Program Manager a schedule of values of the various parts of the work, including quantities, aggregating the total sum of the contract, divided in such manner as to facilitate payments to Trade Contractors, Suppliers, and subcontractors, on a form to be furnished by the Owner with a complete breakdown of the Lump Sum Price so arranged and so itemized as to meet the approval of the Executive Administrator and Program Manager and, if requested, supported by such evidence as to its correctness as the Executive Administrator and Program Manager may direct. The schedule, designated herein the "initial breakdown" (specimen of which will be supplied on request), when approved by the Executive Administrator and Program Manager, shall be used as a basis for certificates of payment unless it be found to be in error. In applying for payments, the Design-Builder shall submit a statement based upon this schedule on the periodical estimate form and, if requested by the Executive Administrator and Program Manager or Owner, said statement shall be itemized in such form and supported by such evidence as the Executive Administrator and Program Manager or Owner may direct, showing the Design-Builder’s right to the payment claimed on the periodical estimate.

Initial Breakdown and Periodical Payments. If payments are made on valuation of work done, such application shall be submitted at least ten days before each payment falls due. Before the first application, the Design-Builder shall submit to the Executive Administrator Program Manager and Program Manager a schedule of values of the various parts of the work, including quantities, aggregating the total sum of the contract, divided in such manner as to facilitate payments to Trade Contractors, Suppliers, and subcontractors, on a form to be furnished by the Owner with a complete breakdown of the Lump Sum Price so arranged and so itemized as to meet the approval of the Executive Administrator Program Manager and Program Manager and, if requested, supported by such evidence as to its correctness as the Executive Administrator Program Manager and Program Manager may direct. The schedule, designated herein the "initial breakdown" (specimen of which will be supplied on request), when approved by the Executive Administrator Program Manager and Program Manager, shall be used as a basis for certificates of payment unless it be found to be in error. In applying for payments, the Design-Builder shall submit a statement based upon this schedule on the periodical estimate form and, if requested by the Executive Administrator Program Manager and Program Manager or Owner, said statement shall be itemized in such form and supported by such evidence as the Executive Administrator Program Manager and Program Manager or Owner may direct, showing the Design-Builder’s right to the payment claimed on the periodical estimate.