MAXIMUM PAYMENT TO CONTRACTOR Clause Samples

The "Maximum Payment to Contractor" clause sets a cap on the total amount the contractor can be paid under the contract. This clause typically specifies a dollar limit that cannot be exceeded, regardless of the actual costs incurred or work performed, and may require the contractor to notify the client if costs approach this maximum. Its core function is to control the client's financial exposure and prevent cost overruns by ensuring that payments remain within an agreed-upon budget.
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MAXIMUM PAYMENT TO CONTRACTOR. The Total Maximum Payment Amount under this Agreement for the provision of services outline in Exhibit A not to exceed: .
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MAXIMUM PAYMENT TO CONTRACTOR. The Maximum Total Payment Amount under this Agreement is: [$ ]
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MAXIMUM PAYMENT TO CONTRACTOR. The Maximum Total Payment Amount under this Agreement is $ during the Term of this Agreement.
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MAXIMUM PAYMENT TO CONTRACTOR. A. The Maximum Total Payment Amount under this Contract is $7,111,016. B. County shall reimburse Contractor on a monthly basis in the amount of $969 per bed per day, filled or unfilled, for 10 beds. At the sole discretion of County, Contractor will not be reimbursed for those units of service that were provided without County authorization. C. The daily rate for uninsured clients is the base rate of $969.00 plus an additional $38.00 per day indigent fee to cover medications. D. For any client who is placed on a 1:1 after the initial 72 hours of admission, County will pay an additional fee of $28 per hour. The need for a 1:1 must be ordered by a medical doctor (MD), reassessed in four hour increments and only continued with an MD’s approval. Contractor shall notify the County Designee immediately or no later than one business day when a client is placed on a 1:1. Contractor shall also update the daily census to reflect a client who remains on a 1:1 for greater than 24 hours. E. By the tenth of each month, Contractor shall provide County an approved and correct census statement and supporting documentation identifying: beneficiary, service provider, type of service and requisite service code, date/s of service, time of day and length of time of services.
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MAXIMUM PAYMENT TO CONTRACTOR. A. The Maximum Total Payment Amount under this Agreement is $175,909.15 for the term beginning on the date this Agreement is executed, and ending September 30, 2016, for the work as described in Exhibit A, Section II, Description of Services. B. Reimbursement shall be based on CONTRACTOR’S actual billable hours per II. Budget below. Invoice documentation, to be included with the invoice, shall include the following: 1. Supplies and materials will be reimbursed upon receipt of copies of the original purchase receipts of paid invoices. 2. A schedule with the following information shall be provided:  Date service is provided  Description of Services providedNumber of hours served  Total Invoice Amount C. Invoices shall be approved by the Chief Probation Officer or Administrative Services Manager. D. The Chief Probation Officer, or his designee, may reallocate ten percent (10%) of the total budget from/to different line items of the budget.
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MAXIMUM PAYMENT TO CONTRACTOR. The Maximum Total Payment Amount under this Agreement is: $15,960 for District Audit fiscal year ended June 30, 2022:
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Related to MAXIMUM PAYMENT TO CONTRACTOR

  • Payment to Contractor The TOWN agrees to pay at the rates specified for SERVICES satisfactorily performed in accordance with this contract. Unless otherwise specified, the CONTRACTOR shall submit an itemized invoice to the TOWN by the end of the month during which SERVICES are performed. Payment will be processed promptly upon receipt and approval by the TOWN of the invoice.

  • Payment to Consultant Upon receipt of a properly prepared invoice and confirmation that the Required Services detailed in the invoice have been satisfactorily performed, City shall pay Consultant for the invoice amount within thirty (30) days. Payment shall be made in accordance with the terms and conditions set forth in Exhibit A and section 2.4, below. At City’s discretion, invoices not timely submitted may be subject to a penalty of up to five percent (5%) of the amount invoiced.

  • Compensation to Contractor The terms related to the price of the goods and/or services to be provided under this Agreement and the terms of payment to the Contractor are described in more detail in Attachment “B” to this Agreement: Price and Payment Information.

  • Payments to Contractor For and in consideration of the faithful performance of the work herein embraced as set forth in the Contract Documents, and in accordance with the directions of the TOWN, through its Engineer and to its satisfaction, the TOWN agrees to pay the CONTRACTOR the amount earned, computed from actual quantities of work performed and accepted or materials furnished at the unit bid price in the Bid Proposal and to make such payment in accordance with applicable Arizona Revised Statutes, after final inspection and acceptance of the work. The TOWN by mutual agreement may make progress payments on contracts of less than ninety days and shall make monthly progress payments on all other contracts as provided for in this paragraph. Payment to the CONTRACTOR on the basis of a duly certified and approved estimate of the work performed during the preceding calendar month under such Contract may include payment for material and equipment, but to ensure the proper performance of such Contract, the TOWN shall retain ten per cent (10%) of the amount of each estimate until final completion and acceptance of all material, equipment and work covered by the Contract. An estimate of the work submitted shall be deemed approved and certified for payment after ten (10) days from the date of submission unless before that time the TOWN or TOWN’s agent prepares and issues a specific written finding setting forth those items in detail in the estimate of the work that are not approved for payment under the Contract. The TOWN may withhold any amount from the progress payment sufficient to pay the expenses the TOWN reasonably expects to incur in correcting the deficiency set forth in the written finding. The progress payments shall be paid on or before fourteen (14) days after the estimate of the work is certified and approved. The estimate of the work shall be deemed received by the TOWN on submission to any person designated by the TOWN for the submission, review or approval of the estimate of the work. When the Contract is fifty per cent (50%) completed, one-half (1/2) of the amount retained, including any securities substituted as set forth below, shall be paid to the CONTRACTOR upon the CONTRACTOR’s request, provided the CONTRACTOR is making satisfactory progress on the Contract and there is no specific cause or claim requiring a greater amount to be retained. After the Contract is fifty per cent (50%) completed, no more than five percent (5%) of the amount of any subsequent progress payments made under the Contract may be retained, providing the CONTRACTOR is making satisfactory progress on the project, except that if at any time the TOWN determines satisfactory progress is not being made, ten per cent (10%) retention shall be reinstated for all progress payments made under the Contract subsequent to the determination. Upon completion and acceptance of each separate building, public work or other division of the Contract on which the price is stated separately in the Contract, except as qualified below, payment may be made in full, including retained percentages thereon, less authorized deductions. In preparing estimates, the material and equipment delivered on the site to be incorporated in the job shall be taken into consideration in determining the estimated value by the Architect or Engineer. Ten percent (10%) (or five percent (5%) the CONTRACTOR is making satisfactory progress) if of all estimates shall be retained by the TOWN as a guarantee for complete performance of the Contract, to be paid to the CONTRACTOR within sixty (60) days after completion or filing notice of completion of the Contract. Retention of payments by the TOWN longer than sixty (60) days after final completion and acceptance requires a specific written finding by the TOWN of the reasons justifying the delay in payment. The TOWN may not retain any moneys after sixty (60) days which are in excess of the amount necessary to pay the expenses the purchasing agency reasonably expects to incur in order to pay or discharge the expenses determined by the TOWN in the finding justifying the retention of moneys. In lieu of the retention provided in this section, the TOWN shall, at the option of the CONTRACTOR, accept as a substitute an assignment of time certificates of deposit of banks licensed by this State, securities of or guaranteed by the United States of America, securities of this State, securities of counties, municipalities and schools within this State, or shares of savings and loan institutions authorized to transact business in this State, in an amount equal to ten per cent (10%) (or five percent (5%) the CONTRACTOR is making satisfactory progress) of all estimates which shall be retained by the agent as a guarantee for complete performance of the Contract. In the event the TOWN accepts substitute security as described in this paragraph for the ten percent (10%) (or five percent (5%) the CONTRACTOR is making satisfactory progress) retention, the CONTRACTOR shall be entitled to receive all interest or income earned by such security as it accrues and all such security in lieu of retention shall be returned to the CONTRACTOR by the TOWN within sixty (60) days after final completion and acceptance of all material, equipment and work covered by the Contract if the CONTRACTOR has furnished the TOWN satisfactory receipts for all labor and material billed and waivers of liens from any and all persons holding claims against the work. In no event shall the agent accept a time certificate of deposit of a bank or shares of a savings and loan institution in lieu of the retention specified unless accompanied by a signed and acknowledged waiver of the bank or savings and loan association of any right or power to set off against either the TOWN or the CONTRACTOR in relationship to the certificates or shares assigned. In any instance where the TOWN has accepted substitute security as provided above, any Subcontractor undertaking to perform any part of such public work shall be entitled to provide substitute security to the CONTRACTOR upon terms and conditions similar to those described above, and such security shall be in lieu of any retention under the Subcontract.

  • Notice to Contractor The Contractor is required to submit Certificates of Insurance acceptable to the State as evidence of insurance coverage requirements prior to commencing work under this Contract. Contractor shall not commence work under the contract until they have obtained all the insurance described below and the State has approved such insurance. Contractor shall maintain such insurance in force and effect throughout the term of this Contract, unless otherwise specified in this Contract The failure of the Contractor to provide a Certificate of Insurance, for the policies required under this Contract or renewals thereof, or failure of the insurance company to notify the State of the cancellation of policies required under this Contract shall not constitute a waiver by the State to the Contractor to provide such insurance. The State reserves the right to immediately terminate this Contract if the Contractor is not in compliance with the insurance requirements and retains all rights to pursue any legal remedies against the Contractor. All insurance policies must be open to inspection by the State, and copies of policies must be submitted to the State’s Authorized Representative upon written request.