PROGRESS PAYMENT Sample Clauses
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PROGRESS PAYMENT.
9.2.1 City shall retain five percent (5%) of the undisputed amount due on each progress payment, or the percentage stated in the Notice Inviting Bids, whichever is greater, as retention to ensure full and complete performance of the Work. Subject to City’s right of withholding under Paragraph 9.4.2 of these General Conditions, City agrees to pay to Contractor within thirty (30) Days of receipt of a properly submitted Application for Payment an amount equal to ninety-five percent (95%), or a lesser amount if corresponding to a higher retention percentage, if applicable, of the sum of the following, excepting therefrom any amounts which are disputed by City:
(i) Construction Manager’s determination of the value, expressed as a percentage of the Contract Sum, of the Work in permanent place that has been tested and accepted as of the end of the preceding month.
(ii) Construction Manager’s determination of the value of materials suitably stored but not yet incorporated into the Work, subject to Paragraph 9.3.6 of these General Conditions.
(iii) Less amounts previously paid.
9.2.2 At any Time after fifty percent (50%) of the Work has been determined by Construction Manager to be completed, City may in its sole discretion, make any of the remaining progress payments in accordance with the calculation in Paragraph 9.2.1 of these General Conditions based on one hundred percent (100%) of City’s determination of the value of the Work in place and of stored materials not yet incorporated into the Work.
9.2.3 Progress payments shall not be construed as City's Acceptance of any or all of the Work and shall not be a waiver of any or all rights City has under the Contract Documents.
PROGRESS PAYMENT. The Contract Price shall be due and payable by the Buyer to the Builder in installments as indicated on Schedule 1 attached hereto.
PROGRESS PAYMENT. 5.4.1 After receipt by the Contract Administrator of a Proper Invoice submitted by the Contractor in accordance with 5.3 – PROPER INVOICES:
.1 the Contract Administrator shall promptly inform the Owner of the date of receipt of the Proper Invoice;
PROGRESS PAYMENT. Subsection 5.3.1.3 is deleted in its entirety and replaced with:
PROGRESS PAYMENT. Grantee may opt to receive a portion of the Grant after starting but prior to completing work on the Project (“Progress Payment”). Grantee shall provide GOCO with a progress report detailing expenditures and progress made to date (“Progress Report”). The Progress Report must be submitted using GOCO’s Progress Report form (available at ▇▇▇.▇▇▇▇.▇▇▇ or by contacting GOCO). GOCO may, in its discretion, request additional documentation to support making a Progress Payment. A Progress Payment shall not exceed 50% of the Grant or the maximum percentage of funds GOCO can expend for the project to date based on the program’s matching requirements, whichever is less. A Progress Payment shall be considered a loan until the Project is complete and Final Payment (as defined below) has been made.
PROGRESS PAYMENT. The contractor's compensation shall be paid as set forth in the contract. 8.3
PROGRESS PAYMENT. The term "
PROGRESS PAYMENT. Once each month County shall cause an estimate to be made covering the work completed as of the date of the estimate. No materials shall be paid for until incorporated into the work. The amount of retention with respect to progress payments will be ten percent (10%).
PROGRESS PAYMENT. The Incubatee is allowed to claim the Progress Payment after provision of: - Documentation evidencing the actual achievement of the milestone(s) as defined in the Payment Plan specified hereunder; - Invoice(s) covering the purchase of licences and/or the costs of product development.
PROGRESS PAYMENT. A monthly payment made by the County to the Contractor after submission of an Application for Progress Payment by Contractor and subsequent issuance of a Certificate for Payment by the County.