Common use of METHOD OF BILLING AND PAYMENT Clause in Contracts

METHOD OF BILLING AND PAYMENT. 8.2.1 The Contractor shall submit billings, which are identified by the specific Contract Document number on a monthly basis and in a timely manner. The Project Manager shall verify completion of the various stages as noted and authorize payment. The Contractor may submit a request for payment thirty (30) days after beginning construction and every thirty (30) days thereafter. Payment will be based on quantities certified by the Contractor. The Contractor’s requisition shall show a complete breakdown of the Project components, the quantities completed, and the amount due, together with a Partial Release of Lien form and such supporting evidence as may be required by the Project Manager. When applicable, the requisition for payment shall be accompanied by a completed Statement of Compliance. 8.2.2 Requests for final payment shall be accompanied by final release of liens from all subcontractors and project close-out documents. In no instance shall final billing exceed the amount allocated in the Contract Document. An updated construction schedule shall be submitted at least monthly to the City and its Consultants along with the pay request. 8.2.2.1 The City may provide direct purchase orders (DPO) to the Contractor for the direct purchase of certain materials for this Project strictly for tax-savings purposes. All direct purchases shall be made in consultation with the Contractor, and the amounts deducted from the total project cost as per the Contractor’s bid. The Contractor shall remain fully responsible for all related activities for such direct purchases, including but not limited to communications with the material suppliers, ordering, delivery, receiving, storage, invoicing, and obtaining Releases of Liens. The City shall only process payments related to such direct purchases upon written approval by the Contractor. Any remaining funds left in a DPO after final payment is made to the material supplier shall be liquidated in favor of the City. 8.2.3 The City agrees that it will pay the Contractor within forty-five (45) calendar days of receipt of the Contractor’s proper statement, as provided above, accompanied by an updated construction schedule and as-built drawings, subject however to other provisions provided for in this Agreement. All payments shall be made in accordance with Florida Prompt Payment Act, Section 218.74, Florida Statutes. 8.2.4 Five percent (5%) of all monies earned by the Contractor shall be retained by the City until the Project is totally completed as specified and accepted by the Project Manager. Any interest earned on retainage shall accrue to the benefit of the City. 8.2.5 Upon receipt of written notice from the Contractor that the Project is ready for Final Inspection and Acceptance, the Project Manager shall, within ten (10) days, make an inspection thereof. If the Project Manager finds the Project acceptable under the Contract Documents and the Project fully performed, a Final Certificate of Payment shall be issued by the Project Manager, over his/her own signature, stating that the work required by this Agreement has been completed and is accepted under the terms and conditions thereof. 8.2.6 Before issuance of the Final Certificate for Payment, the Contractor shall deliver to the Project Manager a complete release of all liens arising out of this Agreement or receipts in full in lieu thereof, and an Affidavit certifying that all suppliers and subcontractors have been paid in full and that all other indebtedness connected with the Project has been paid, and a consent of the surety to final payment. All warranties, guarantees, operational manuals, and instructions in operation shall be delivered to the City at this time. As-built drawings shall be completed and approved by the Architect of Record prior to final payment being made. 8.2.7 The City may withhold final payment or any progress payment to such extent as may be necessary on account of: 8.2.7.1 Defective work not remedied. 8.2.7.2 Claims filed or reasonable evidence indicating probable filing of claims by other parties against the Contractor. 8.2.7.3 Failure of the Contractor to make payments properly to subcontractors or consultants or for material or labor. 8.2.7.4 Damage to another subcontractor, supplier, materialmen, party, or person not remedied. 8.2.7.5 Liquidated damages pursuant to Article 6 hereof. 8.2.7.6 As-built drawings not being in a current and acceptable state. 8.2.7.7 Any other breach of this agreement by the Contractor. 8.2.8 When the above grounds are removed or resolved or the Contractor provides a surety bond or a consent of surety satisfactory to the City, which will protect the City in the amount withheld, payment may be made in whole or in part, as applicable. 8.2.9 If after the Project has been substantially completed and full completion thereof is materially delayed through no fault of the Contractor, and the Project Manager so certifies, the City shall, upon certification of the Project Manager, and without terminating the Contract, make payment of the balance due for that portion of the Project fully completed and accepted. Such payment shall be made under the terms and conditions governing final payment, except that it shall not constitute a waiver of claims. 8.2.10 The making and acceptance of the final payment shall constitute a waiver of all claims by the City, other than those arising from faulty or defective work, failure of the Project to comply with requirements of the Contract Documents or terms of any warranties required by the Contract Documents. It shall also 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. 8.2.11 Payment will be made to the Contractor by direct deposit or ACH at: __________________________________________ __________________________________________

METHOD OF BILLING AND PAYMENT. 8.2.1 The Contractor shall submit billings▇▇▇▇▇▇▇▇, which are identified by the specific Contract Document number on a monthly basis and in a timely manner. The Project Manager shall verify completion of the various stages as noted and authorize payment. The Contractor may submit a request for payment thirty (30) days after beginning construction and every thirty (30) days thereafter. Payment will be based on quantities certified by the Contractor. The Contractor’s requisition shall show a complete breakdown of the Project components, the quantities completed, and the amount due, together with a Partial Release of Lien form and such supporting evidence as may be required by the Project Manager. When applicable, the requisition for payment shall be accompanied by a completed Statement of Compliance. 8.2.2 Requests for final payment shall be accompanied by final release of liens from all subcontractors and project close-out documents. In no instance shall final billing exceed the amount allocated in the Contract Document. An updated construction schedule shall be submitted at least monthly to the City and its Consultants along with the pay request. 8.2.2.1 The City may provide direct purchase orders (DPO) to the Contractor for the direct purchase of certain materials for this Project strictly for tax-savings purposes. All direct purchases shall be made in consultation with the Contractor, and the amounts deducted from the total project cost as per the Contractor’s bid. The Contractor shall remain fully responsible for all related activities for such direct purchases, including but not limited to communications with the material suppliers, ordering, delivery, receiving, storage, invoicing, and obtaining Releases of Liens. The City shall only process payments related to such direct purchases upon written approval by the Contractor. Any remaining funds left in a DPO after final payment is made to the material supplier shall be liquidated in favor of the City. 8.2.3 The City agrees that it will pay the Contractor within forty-five (45) calendar days of receipt of the Contractor’s proper statement, as provided above, accompanied by an updated construction schedule and as-built drawings, subject however to other provisions provided for in this Agreement. All payments shall be made in accordance with Florida Prompt Payment Act, Section 218.74, Florida Statutes. 8.2.4 Five percent (5%) of all monies earned by the Contractor shall be retained by the City until the Project is totally completed as specified and accepted by the Project Manager. Any interest earned on retainage shall accrue to the benefit of the City. 8.2.5 Upon receipt of written notice from the Contractor that the Project is ready for Final Inspection and Acceptance, the Project Manager shall, within ten (10) days, make an inspection thereof. If the Project Manager finds the Project acceptable under the Contract Documents and the Project fully performed, a Final Certificate of Payment shall be issued by the Project Manager, over his/her own signature, stating that the work required by this Agreement has been completed and is accepted under the terms and conditions thereof. 8.2.6 Before issuance of the Final Certificate for Payment, the Contractor shall deliver to the Project Manager a complete release of all liens arising out of this Agreement or receipts in full in lieu thereof, and an Affidavit certifying that all suppliers and subcontractors have been paid in full and that all other indebtedness connected with the Project has been paid, and a consent of the surety to final payment. All warranties, guarantees, operational manuals, and instructions in operation shall be delivered to the City at this time. As-built drawings shall be completed and approved by the Architect of Record prior to final payment being made. 8.2.7 The City may withhold final payment or any progress payment to such extent as may be necessary on account of: 8.2.7.1 Defective work not remedied. 8.2.7.2 Claims filed or reasonable evidence indicating probable filing of claims by other parties against the Contractor. 8.2.7.3 Failure of the Contractor to make payments properly to subcontractors or consultants or for material or labor. 8.2.7.4 Damage to another subcontractor, supplier, materialmen, party, or person not remedied. 8.2.7.5 Liquidated damages pursuant to Article 6 hereof. 8.2.7.6 As-built drawings not being in a current and acceptable state. 8.2.7.7 Any other breach of this agreement by the Contractor. 8.2.8 When the above grounds are removed or resolved or the Contractor provides a surety bond or a consent of surety satisfactory to the City, which will protect the City in the amount withheld, payment may be made in whole or in part, as applicable. 8.2.9 If after the Project has been substantially completed and full completion thereof is materially delayed through no fault of the Contractor, and the Project Manager so certifies, the City shall, upon certification of the Project Manager, and without terminating the Contract, make payment of the balance due for that portion of the Project fully completed and accepted. Such payment shall be made under the terms and conditions governing final payment, except that it shall not constitute a waiver of claims., 8.2.10 The making and acceptance of the final payment shall constitute a waiver of all claims by the City, other than those arising from faulty or defective work, failure of the Project to comply with requirements of the Contract Documents or terms of any warranties required by the Contract Documents. It shall also 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. 8.2.11 Payment will be made to the Contractor by direct deposit or ACH at: __________________________________________ __________________________________________:

METHOD OF BILLING AND PAYMENT. 8.2.1 The Contractor shall submit billings▇▇▇▇▇▇▇▇, which are identified by the specific Contract Document number on a monthly basis and in a timely manner. The Project Manager shall verify completion of the various stages as noted and authorize payment. The Contractor may submit a request for payment thirty (30) days after beginning construction and every thirty (30) days thereafter. Payment will be based on quantities certified by the Contractor. The Contractor’s requisition shall show a complete breakdown of the Project components, the quantities completed, and the amount due, together with a Partial Release of Lien form and such supporting evidence as may be required by the Project Manager. When applicable, the requisition for payment shall be accompanied by a completed Statement of Compliance. 8.2.2 Requests for final payment shall be accompanied by final release of liens from all subcontractors and project close-out documents. In no instance shall final billing exceed the amount allocated in the Contract Document. An updated construction schedule shall be submitted at least monthly to the City and its Consultants along with the pay request. 8.2.2.1 The City may provide direct purchase orders (DPO) to the Contractor for the direct purchase of certain materials for this Project strictly for tax-savings purposes. All direct purchases shall be made in consultation with the Contractor, and the amounts deducted from the total project cost as per the Contractor’s bid. The Contractor shall remain fully responsible for all related activities for such direct purchases, including but not limited to communications with the material suppliers, ordering, delivery, receiving, storage, invoicing, and obtaining Releases of Liens. The City shall only process payments related to such direct purchases upon written approval by the Contractor. Any remaining funds left in a DPO after final payment is made to the material supplier shall be liquidated in favor of the City. 8.2.3 The City agrees that it will pay the Contractor within forty-five (45) calendar days of receipt of the Contractor’s proper statement, as provided above, accompanied by an updated construction schedule and as-built drawings, subject however to other provisions provided for in this Agreement. All payments shall be made in accordance with Florida Prompt Payment Act, Section 218.74, Florida Statutes. 8.2.4 Five percent (5%) of all monies earned by the Contractor shall be retained by the City until the Project is totally completed as specified and accepted by the Project Manager. Any interest earned on retainage shall accrue to the benefit of the City. 8.2.5 Upon receipt of written notice from the Contractor that the Project is ready for Final Inspection and Acceptance, the Project Manager shall, within ten (10) days, make an inspection thereof. If the Project Manager finds the Project acceptable under the Contract Documents and the Project fully performed, a Final Certificate of Payment shall be issued by the Project Manager, over his/her own signature, stating that the work required by this Agreement has been completed and is accepted under the terms and conditions thereof. 8.2.6 Before issuance of the Final Certificate for Payment, the Contractor shall deliver to the Project Manager a complete release of all liens arising out of this Agreement or receipts in full in lieu thereof, and an Affidavit certifying that all suppliers and subcontractors have been paid in full and that all other indebtedness connected with the Project has been paid, and a consent of the surety to final payment. All warranties, guarantees, operational manuals, and instructions in operation shall be delivered to the City at this time. As-built drawings shall be completed and approved by the Architect of Record prior to final payment being made. 8.2.7 The City may withhold final payment or any progress payment to such extent as may be necessary on account of: 8.2.7.1 Defective work not remedied. 8.2.7.2 Claims filed or reasonable evidence indicating probable filing of claims by other parties against the Contractor. 8.2.7.3 Failure of the Contractor to make payments properly to subcontractors or consultants or for material or labor. 8.2.7.4 Damage to another subcontractor, supplier, materialmen, party, or person not remedied. 8.2.7.5 Liquidated damages pursuant to Article 6 hereof. 8.2.7.6 As-built drawings not being in a current and acceptable state. 8.2.7.7 Any other breach of this agreement by the Contractor. 8.2.8 When the above grounds are removed or resolved or the Contractor provides a surety bond or a consent of surety satisfactory to the City, which will protect the City in the amount withheld, payment may be made in whole or in part, as applicable. 8.2.9 If after the Project has been substantially completed and full completion thereof is materially delayed through no fault of the Contractor, and the Project Manager so certifies, the City shall, upon certification of the Project Manager, and without terminating the Contract, make payment of the balance due for that portion of the Project fully completed and accepted. Such payment shall be made under the terms and conditions governing final payment, except that it shall not constitute a waiver of claims. 8.2.10 The making and acceptance of the final payment shall constitute a waiver of all claims by the City, other than those arising from faulty or defective work, failure of the Project to comply with requirements of the Contract Documents or terms of any warranties required by the Contract Documents. It shall also 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. 8.2.11 Payment will be made to the Contractor by direct deposit or ACH at: __________________________________________ __________________________________________ten

METHOD OF BILLING AND PAYMENT. 8.2.1 The Contractor shall submit billings, which ▇▇▇▇▇▇▇▇ that are identified by the specific Contract Document number on a monthly basis and in a timely manner. The Project Manager shall verify completion of the various stages as noted and authorize payment. The Contractor may submit a request for payment thirty (30) days after beginning construction and every thirty (30) days thereafter. Payment will be based on quantities completed or partially completed scopes or materials stored and certified by the Contractor. The Contractor’s requisition shall show a complete breakdown of the Project components, the quantities completedscope of work completed or partially completed scopes and/or materials stored, and the amount due, together with a Partial Release conditional partial release of Lien lien form for corresponding payment to the Contractor, project documents generated during the preceding month in electronic format, updated CPM schedule, and such other supporting evidence as may be required by the Project Manager. When applicable, the requisition for payment shall be accompanied by a completed Statement of Compliance. 8.2.2 Requests for final payment shall be accompanied by final release conditional releases of liens from all subcontractors and project close-out documents. In no instance shall final billing exceed the amount allocated in the Contract Document. An updated construction schedule shall be submitted at least monthly to the City and its Consultants along with the pay request. 8.2.2.1 The City may provide direct purchase orders elect to Owner Direct Purchase (DPOODP) to the Contractor for the direct purchase of certain materials for this Project strictly for tax-savings saving purposes. All direct purchases ODPs shall be made in consultation with the Contractor, and the such actual check disbursements and associated tax savings amounts will be deducted from the total project cost as per the Contractor’s bidProject cost. The Contractor shall remain fully responsible for all related activities for such direct purchasesODPs, including including, but not limited to to, communications with the material suppliers, ordering, delivery, receiving, storage, invoicing, and obtaining Releases releases of Liensliens. The City shall only process payments related to such direct purchases ODPs upon written approval by the Contractor. Any remaining funds left in a DPO an ODP after final payment is made to the material supplier shall be liquidated in favor of the City. 8.2.3 The Subject to other provisions provided for in this Agreement, the City agrees that it will pay the Contractor within forty-five thirty (4530) calendar days of receipt of the Contractor’s proper billing payment application statement, as provided above, accompanied by an updated construction schedule and as-built drawings, subject however to other provisions provided for in this Agreement. All payments shall be made in accordance with the Florida Prompt Payment Act, Section 218.74, Florida Statutes. 8.2.4 Five percent (5%) of all monies earned by the Contractor shall be retained by the City until the Project is totally completed has achieved Final Completion as specified and accepted by the Project ManagerManager and/or until the City has received full and final releases of liens from all suppliers and subcontractors or a letter or written confirmation from the Contractor’s surety to the City stating the name of the company hired by the Contractor and that such company will be paid or handled by the Contractor’s surety, who will be assuming all payment responsibility. Any interest earned on retainage shall accrue to the benefit of the City. 8.2.5 Upon receipt of written notice from the Contractor that the Project is ready for Final Inspection and Acceptance, the Project Manager shall, within ten (10) days, make an inspection thereof. If the Project Manager finds the Project acceptable under the Contract Documents and the Project fully performed, a Final Certificate of for Payment shall be issued by the Project Manager, over his/her own signature, stating that the work required by this Agreement has been completed and is accepted under the terms and conditions thereof. 8.2.6 Before issuance of the Final Certificate for Payment, the Contractor shall deliver to the Project Manager a complete release of all liens arising out of this Agreement Agreement, or receipts showing payment in full in lieu thereof, and an Affidavit certifying that all suppliers and subcontractors have been paid in full and that all other indebtedness connected with the Project has been paid, and a the surety’s consent of the surety to final payment. All warranties, guarantees, operational manuals, and instructions in operation shall be delivered to the City at this time. As-built drawings shall be completed and approved by the Architect of Record prior to final payment being made. 8.2.7 The City may withhold final payment or any progress payment to such extent as may be necessary on account of: 8.2.7.1 Defective work not remedied. 8.2.7.2 Claims filed or reasonable evidence indicating probable filing of claims by other parties against the Contractor. 8.2.7.3 Failure of the Contractor to make payments properly to subcontractors or consultants or for material or labor. 8.2.7.4 Damage to another subcontractor, supplier, materialmenmaterialman, party, or person not remedied. 8.2.7.5 Liquidated damages pursuant to Article 6 hereof. 8.2.7.6 As-built drawings not being in a current and acceptable state. 8.2.7.7 Any other breach of this agreement Agreement by the Contractor. 8.2.8 When the above grounds are removed or resolved or the Contractor provides a surety bond or a consent of surety satisfactory to the City, which City that will protect the City in the amount withheld, payment may be made in whole or in part, as applicable. 8.2.9 If after the Project has been substantially completed and full completion thereof is materially delayed through no fault of the Contractor, and the Project Manager so certifies, the City shall, upon certification of the Project Manager, and without terminating the Contract, make payment of the balance due for that portion of the Project fully completed and accepted. Such payment shall be made under the terms and conditions governing final payment, except that it shall not constitute a waiver of claims. 8.2.10 The making and acceptance of the final payment shall constitute a waiver of all claims by the City, other than those arising from faulty or defective work, work or failure of the Project to comply with requirements of the Contract Documents or terms of any warranties required by the Contract Documents. It shall also 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. 8.2.11 Payment will be made to the Contractor by direct deposit or ACH at: __________________________________________ __________________________________________: