Common use of Reimbursement Method Clause in Contracts

Reimbursement Method. The Department will make prepayments equal to the Contractor’s prepayment schedule that has been approved by the Department and the Contractor. The prepayments will be monthly, paid up to the total Department allocation as agreed to in the approved budget. Prepayments may be adjusted after the second quarter based upon expenditure reports for the first two quarters. Expenditure reporting procedures are described in Attachment B to this agreement.

Reimbursement Method. The Department will make prepayments equal to the Contractor’s prepayment schedule that has been approved by the Department and the Contractor. The prepayments will be monthly, paid up to the total Department allocation as agreed to in the approved budget. Prepayments may be adjusted after the second quarter quarterly based upon expenditure reports for the first two quartersreports. Expenditure reporting procedures are described in Attachment B to this agreement.