Common use of Prompt Payment Law Clause in Contracts

Prompt Payment Law. The parties agree that Section 66.0135, Wisconsin Statutes, Interest on Late Payments, shall not apply to payment for Covered Services provided hereunder. Purchaser is intended to be the "payor of last resort" (Milwaukee County DHHS Payor of Last Resort Policy is incorporated here and by reference) after all other public and private funds restricted to the Covered Services being purchased, including medical insurance and restricted contributions, have been exhausted. Payments for Covered Services shall be made in accordance with the “order of payment” requirements for the funding agency, funding program, and other collections made by the Provider for Covered Services. Under no circumstances shall the Provider bill, charge, seek remuneration or compensation from or have recourse against the Participant, or any person acting on his/her behalf, for Covered Services provided under this Agreement. Any surplus restricted program revenues (temporarily restricted net assets) are to be returned to Purchaser as unspent funds. If the Provider recovers payment from third-party insurance, the Provider agrees to re-pay the recovered amount to Purchaser. No funds within this Agreement may be used to supplant Health Insurance, other Health Maintenance Organizations, or Preferred Provider Organization funded services. Availability of Funds. Should Purchaser reimbursement from state, federal, or local sources not be obtained or continued at a level sufficient to allow for payment for the Covered Services, the obligations of each party may be terminated. Any changes that impact on availability of funding shall be sufficient cause for Purchaser to immediately reduce the amount of payment or unit rate paid to the Provider with or without advance notice. SECTION TWELVE Indemnity & Insurance