PAYMENTS ON ACCOUNT OF BASIC SERVICES. 11.4.1. Unless otherwise agreed, payments for services shall be made monthly in proportion to services performed as delineated in the Letter of Agreement. Payments are due and payable upon presentation of the Architect’s invoice. Amounts unpaid for a period greater than 90 days after the invoice date shall bear interest at the rate entered below, or in the absence thereof at the legal rate prevailing from time to time at the principal place of business of the Architect. 11.4.2. If and to the extent that the time initially established in the Letter of Agreement for the specific project is exceeded or extended through no fault of the Architect, compensation for any services rendered during the additional period of time shall be computed on an hourly basis or by a mutually agreed upon lump sum amount.
Appears in 3 contracts
Sources: Architect of Record Master Agreement, Architect of Record Master Agreement, Architect of Record Master Agreement