Common use of Procedures for Payment Clause in Contracts

Procedures for Payment. Procedures for UDEQ payment will be in accordance with Office of Management and Budget (OMB) Circulars ▇-▇▇▇, ▇-▇▇ and A-128 and 32 C.F.R. § 278.1. This Agreement is considered a cooperative agreement within the meaning of 31 U.S.C. § 6305. After this Agreement is executed, UDEQ may submit requests for payments on a quarterly basis. USAF will process the requests and make payment within 30 days after receipt of the request. Within 60 days after the end of each quarter, UDEQ shall submit to USAF a status report, including cost summaries which directly relate allowable costs actually incurred by UDEQ under this Agreement during the quarter. Allowability of costs shall be determined in accordance with this Agreement and OMB Circular 87. Audits shall be accomplished in accordance with OMB Circular A-128. USAF has the right to audit cost reports used by UDEQ to develop the cost summaries.