Overpayment of $100 or Less Clause Samples

The "Overpayment of $100 or Less" clause establishes how minor overpayments, specifically those not exceeding $100, are handled between parties. Typically, this clause allows the party receiving the overpayment to either retain the small excess amount or apply it as a credit toward future payments, rather than requiring a refund or adjustment for such a minimal sum. Its core function is to reduce administrative burden and avoid unnecessary processing for trivial payment discrepancies, thereby streamlining financial transactions and minimizing disputes over insignificant amounts.
Overpayment of $100 or Less. In the event of a mistake resulting in an overpayment to an employee, the employee shall be notified in writing of such overpayment which shall state the total amount overpaid and the reasons for the error. Such overpayment shall be recovered from one or two checks.
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Overpayment of $100 or Less. If an employee has been overpaid by $100 or less, a corrective adjustment shall be made automatically to the affected employee’s next paycheck. The Location Payroll Contact Person will provide an explanation for the overpayment to the affected employee.
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Overpayment of $100 or Less. In the event of a mistake resulting in an overpayment to an employee, the employee shall be notified in writing of such overpayment which shall state the total amount overpaid and the reasons for the error. Upon notification, at the employee's option, such overpayment shall be recovered from one check or recovered from the remaining checks with an equal deduction being made from each check. In either case, such recovery shall not be made until the employee has received one additional check without such deductions being made. Overpayments should be recouped in the calendar year in which it was discovered. However, if the financial burden in doing so would be excessive, the Superintendent/Designee may extend the repayment plan into the next fiscal/calendar year except for employees who are leaving the school system or are on a year long unpaid leave of absence.
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Overpayment of $100 or Less. In the event of a mistake resulting in an overpayment to an employee, the employee shall be notified in writing of such overpayment which shall state the total amount overpaid and the reasons for the error. Upon notification, such overpayment shall be recovered from the employee’s next check. Such recovery shall not be made until the employee has received one (1) additional check without such deductions being made. Employees shall contact the Location Payroll Person for an explanation of the error. If the Location Payroll Contact Person cannot provide an explanation, the employee may contact the Payroll Department.
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Overpayment of $100 or Less. In the event of a mistake resulting in an overpayment to an employee, the employee shall be notified in writing of such overpayment which shall state the total amount overpaid and the reasons for the error. Upon notification, such overpayment shall be recovered from the employee’s next check Such recovery shall not be made until the employee has received one additional check without such deductions being made. Employees shall contact the Location Payroll Person for an explanation of the error. If the Location Payroll Contact Person cannot provide an explanation, the employee may contact the Payroll Department. Overpayments should be recouped in the calendar year in which it was discovered.
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Related to Overpayment of $100 or Less

  • Overpayment Provider shall be liable to the GLO for any costs disallowed pursuant to financial and/or compliance audit(s) of funds received under this Contract. Provider shall reimburse such disallowed costs from funds other than those that Provider received under this Contract. Provider must refund disallowed costs and overpayments of funds received under this Contract to the GLO within 30 days after the GLO issues notice of overpayment to Provider.

  • Overpayments Contractor promptly shall refund to Purchaser the full amount of any erroneous payment or overpayment. Such refunds shall occur within thirty (30) calendar days of written notice to Contractor; Provided, however, that Purchaser shall have the right to elect to have either direct payments or written credit memos issued. If Contractor fails to make timely refunds of overpayment(s) (either directly or by credit memo), Contractor shall pay Purchaser interest at the rate of one percent (1%) per month on the amount overdue thirty (30) calendar days after notice to Contractor.

  • OVERPAYMENT OF PURCHASES OR UNDERPAYMENT OF FEES Without limiting any other remedy available to any Purchaser, Contractor shall (a) reimburse Purchasers for any overpayments inconsistent with the terms of this Contract or Purchase Orders placed thereunder, at a rate of 125% of any such overpayments, found as a result of the examination of Contractor’s records; and (b) reimburse Enterprise Services for any underpayment of vendor management fees, at a rate of 125% of such fees found as a result of the examination of Contractor’s records (e.g., if Contractor underpays the Vendor Management Fee by $500, Contractor would be required to pay to Enterprise Services $500 x 1.25 = $625); Provided, however, that, in the event Contractor timely discovers and corrects any Purchaser overpayment or Contractor underpayment of vendor management fees and does so prior to the initiation of any audit, Contractor shall be entitled to reimburse Purchaser or pay to Enterprise Services the actual amount of such Purchaser overpayment or such underpayment of vendor management fees.

  • Underpayment In the event of a change which results in an underpayment to an employee, the employee shall be properly compensated on or before the next possible paycheck following discovery of the error. Upon request, the District shall provide the employee with specific written explanation for the underpayment through the Payroll Contact Person at the employee’s location.