Partial and Final Payments Sample Clauses

Partial and Final Payments. A. Projects with Architect/Engineer acting as Owner’s Agent - For projects in which the Architect/Engineer has been designated to provide oversight (acting as Owner’s Agent)- Contractor shall submit invoice to Architect/Engineer for review and approval. B. Projects that do not have Owner’s Agent - Contractor shall submit invoice directly to Owner for review and approval.
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Partial and Final Payments. Partial payments will be made on or before the 20th of each month for 95% of the work done during the previous month, as estimated by the Engineer. The remaining 5% will be held by the City of Durham as Retainage. The Retainage amount will be increased on the monthly Pay Request only up to (1) the owner obtains written consent of ▇▇▇▇▇▇; and (2) the performance of work is satisfactory up to the 50% completion point. Notwithstanding satisfactory performance by the contractor at the 50% project completion point, the owner may still retain up to 5% retainage on subsequent payments in order to retain an overall project retainage of no more than 2.5% through completion of the project. If, however, at any point the owner finds the contractor’s performance to be “unsatisfactory,” (whether at the 50% completion point or after), the owner may “reinstate” retainage from each subsequent periodic payment up to a 5% maximum to maintain the 5% total project retainage. Monthly payments shall only be paid when the Work is progressing in accordance with the terms of the Contract. As soon as practicable after the acceptance of the work, the Contractor shall be issued a final estimate based upon the actual quantities of complete and accepted work. Within thirty days thereafter, such final estimate shall be considered for approval by the Engineer; and after it has been approved, the City shall pay the entire sum so found to be due hereunder, after deducting therefrom all previous payments and all amounts to be retained under the provisions of this Contract. All prior partial estimates may be subject to correction in the final estimate and payment. Neither the preparation of said final estimate nor its approval by the Engineer, nor the payment of said final estimate shall be construed to affect the right reserved by the City to reject the whole, or any portion, of the Work, should any of said Work be found inconsistent with any terms of the Contract, or should it be found that the preparation of said estimate or said approval of said payment otherwise was improperly done. The Contractor shall not be entitled to receive payment on partial or final estimates unless only first class workmanship and materials shall have been used. The inspection of the Work at any time shall not relieve the Contractor of the obligation to do sound and reliable work true to line and form. Any omission to disapprove of any Work by the Engineer at or before the time for any monthly or final estimate ...
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Partial and Final Payments. In accordance with the provisions fully set forth in the "General Conditions" of the "Specifications", and subject to additions and deductions as provided, the CITY shall pay the CONTRACTOR as follows: (a) On the 15th day, or the first business day thereafter, of each calendar month, the CITY shall make partial payments to the CONTRACTOR on the basis of a duly certified and approved estimate of work performed during the preceding calendar month by the CONTRACTOR, less five percent (5%) of the amount of such estimate which is to be retained by the CITY until all work has been performed strictly in accordance with this Agreement and until such work has been accepted by the CITY. The parties’ rights and obligations regarding retainage are further specified in Florida Statute Section 218.735. (b) Upon submission by the CONTRACTOR of evidence satisfactory to the CITY that all payrolls, material bills and other costs incurred by the CONTRACTOR in connection with the construction of the WORK have been paid in full, and also, after all guarantees that may be required in the Specifications have been furnished and are found acceptable by the CITY, final payment on account of this Agreement shall be made within sixty (60) days after completion by the CONTRACTOR of all work covered by this Agreement and acceptance of such work by the ENGINEER and approved by the CITY.
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Partial and Final Payments. ARTICLE 40.
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Partial and Final Payments. Partial payments will be made on or before the 20th of each month for 95% of the work done during the previous month, as estimated by the Engineer. The remaining 5% will be held by the City of Durham as Retainage. The Retainage amount will be increased on the monthly Pay Request only up to the point that 50% of the Project, based on cost, is complete. When the project is 50% complete, the owner shall not “retain any further retainage” from periodic payments due if: (1) the owner obtains written consent of surety; and (2) the performance of work is satisfactory up to the 50% completion point. Notwithstanding satisfactory performance by the contractor at the 50% project completion point, the owner may still retain up to 5% retainage on subsequent payments in order to retain an overall project retainage of no more than 2.5% through completion of the project. If, however, at any point the owner finds the contractor’s performance to be “unsatisfactory,” (whether at the 50% completion point or after), the owner may “reinstate” retainage from each subsequent periodic payment up to a 5% maximum to maintain the 5% total project retainage. Monthly payments shall only be paid when the Work is progressing in accordance with the terms of the Contract.
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Partial and Final Payments. We will prepare up to eight (8) partial payments and one (1) final payment for the project. We have assume payments will be prepared in Excel and we will prepare an example payment before the project to confirm the City is in agreement on format of the payment. We will coordinate each partial payment and final payment with MnDOT State Aid through the required Delegate Contract Process (DCP) requirements.
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Partial and Final Payments. Partial payments of the foregoing will be made at monthly intervals as the work progresses, based upon certified invoices received, compatible with current practices and acceptable to the Local Entity. Payments on the fixed fee will be based on the estimated percentage of completion of work. Every request for payment must include one original and three copies of the certified invoice, along with three copies of the progress report. When the Consultant completes the work in accordance with the terms of the Agreement, the Local Entity’s liaison will certify the completion and recommend final acceptance. The Local Entity will notify the Consultant that acceptance has been made. The Local Entity reserves the right to withhold payment of the Consultant’s final payment until any and all just claims filed with the Local Entity against the Agreement have been settled. Accomplishment of an affidavit on the final claim by the Consultant will constitute full Acceptance by the Consultant of the total amount shown as the entire amount due the Consultant under the agreement.
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Partial and Final Payments. Partial payments of the foregoing will be made at monthly intervals as the work progresses, based upon certified invoices received, compatible with current practices and acceptable to the Local Agency. Payments will be based upon the estimated percentage of completion of work. Every request for payment must include one original of the certified invoice, along with one original of the progress report. The Local Agency reserves the right to withhold payment of the Consultant's final payment until any and all just claims filed with the Local Agency against the Agreement have been settled. Accomplishment of an affidavit on the final claim by the Consultant shall constitute full acceptance by the Consultant of the total amount shown as the entire amount due the Consultant under the agreement.
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Partial and Final Payments 
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Related to Partial and Final Payments

  • ACCEPTANCE AND FINAL PAYMENT Upon written notice to the Owner

  • FINAL COMPLETION AND FINAL PAYMENT 9.9.1 Upon receipt of written notice that the Work is ready for final inspection and acceptance and upon receipt of a final Application for Payment, the Architect will promptly make such 9.9.2 Neither the final payment nor the remaining retained percentage shall become due until the Contractor submits to the Architect (1) an affidavit that all payrolls, bills for materials and equipment, and other indebtedness connected with the Work for which the State or its property might in any way be responsible, have been paid or otherwise satisfied; (2) consent of surety, if any, to final payment; (3) Other data establishing payment or satisfaction of all such obligations, including, but not limited to, receipts, releases, or other supporting documentation. and (4) final waivers of liens arising out of the Contract, to the extent and in such form as may be designated by the State. If any Subcontractor refuses to furnish a release or waiver required by the State, the Contractor may furnish a bond satisfactory to the State to indemnify him against any such lien. If any such lien remains unsatisfied after all payments are made, the Contractor shall refund to the State all moneys that the latter may be compelled to pay in discharging such lien, including all costs and reasonable attorneys' fees. 9.9.3 If, after Substantial Completion of the Work, final completion thereof is materially delayed through no fault of the Contractor or by the issuance of Change Orders affecting final completion, and the Architect so confirms, the State shall, upon application by the Contractor and certification by the Architect, and without terminating the Contract, make payment of the balance due for that portion of the Work fully completed and accepted. If the remaining balance for Work not fully completed or corrected is less than the retainage stipulated in the Contract Documents, and if bonds have been furnished as required by the Contract Documents, the written consent of the surety to the payment of the balance due for that portion of the Work fully completed and accepted shall be submitted by the Contractor to the Architect prior to certification of such payment. Such payment shall be made under the terms and conditions governing final payment, except that it shall not constitute a waiver of claims. 9.9.4 The making of final payment shall constitute a waiver of all claims by the State except those arising from: (a) unsettled liens, (b) faulty or defective Work appearing after Substantial Completion, (c) failure of the Work to comply with the requirements of the Contract Documents, or (d) terms of any special warranties required by the Contract Documents. 9.9.5 The acceptance of final payment shall 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.

  • Final Payment A. Upon final completion and acceptance of the Work in accordance with Paragraph 15.06 of the General Conditions, Owner shall pay the remainder of the Contract Price as recommended by Engineer as provided in said Paragraph 15.06.

  • Partial payments (a) If the Agent receives a payment that is insufficient to discharge all the amounts then due and payable by an Obligor under the Finance Documents, the Agent shall apply that payment towards the obligations of that Obligor under the Finance Documents in the following order: (i) first, in or towards payment pro rata of any unpaid fees, costs and expenses of the Agent under the Finance Documents; (ii) secondly, in or towards payment pro rata of any accrued interest, fee or commission due but unpaid under this Agreement; (iii) thirdly, in or towards payment pro rata of any principal due but unpaid under this Agreement; and (iv) fourthly, in or towards payment pro rata of any other sum due but unpaid under the Finance Documents. (b) The Agent shall, if so directed by the Majority Lenders, vary the order set out in paragraphs (a)(ii) to (iv) above. (c) Paragraphs (a) and (b) above will override any appropriation made by an Obligor.