Common use of Overpayment or Underpayment Clause in Contracts

Overpayment or Underpayment. Should any examination or audit of Contractor’s records reveal an overpayment or underpayment by Contractor to City, the amount of underpayment, plus interest compounded monthly at the maximum lawful rate, shall be paid by Contractor to City within thirty (30) days. The principal amount of any overpayment shall be paid by City to Contractor within sixty (60) days.

Appears in 2 contracts

Sources: Solid Waste Collection Service Agreement, Solid Waste Collection Service Agreement