Common use of PROMPT PAYMENT POLICY Clause in Contracts

PROMPT PAYMENT POLICY. In accordance with Chapter 2251, V.T.C.A., Texas Government Code, payment to A/E will be made within thirty (30) days of the day on which the performance of services was complete, a See also, Art. 32(P) “Termination of Work Authorization”. or within thirty (30) days of the day on which the County Auditor receives a correct invoice for services, whichever is later. A/E may charge a late fee (fee shall not be greater than that which is permitted by Texas law) for payments not made in accordance with this prompt payment policy; however, this policy does not apply in the event: A. There is a bona fide dispute between County and A/E concerning the supplies, materials, or equipment delivered or the services performed that causes the payment to be late; or B. The terms of a federal contract, grant, regulation, or statute prevent County from making a timely payment with federal funds; or C. There is a bona fide dispute between A/E and a subcontractor/subconsultant or between a subcontractor/subconsultant and its supplier concerning supplies, materials, or equipment delivered or the Architectural and Engineering Services performed which causes the payment to be late; or D. The invoice is not submitted to ▇▇▇▇▇▇▇▇▇▇ Countyb in strict accordance with instructions, if any, on the purchase order, or this First Amended Agreement or other such contractual agreement. The County Auditor shall document to A/E the issues related to disputed invoices within ten (10) calendar days of receipt of such invoice. Any non-disputed invoices shall be considered correct and payable per the terms of Chapter 2251, V.T.C.A., Texas Government Code.