Submission of Payment Requests Clause Samples
The 'Submission of Payment Requests' clause defines the process by which a party formally requests payment under a contract. Typically, this clause outlines the required documentation, timing, and format for submitting invoices or payment applications, such as specifying that requests must include supporting receipts or be submitted by a certain date each month. Its core function is to ensure that payment requests are made in an organized and verifiable manner, reducing disputes and delays by providing clear procedures for both parties to follow.
Submission of Payment Requests. On or before the 25th day of each month after commencement of performance, but no more frequently than once monthly, the Design/Builder may submit to the Owner’s Representative, a payment request for the period ending the last day of the month. Said payment request shall be submitted via the Owners electronic project management system and shall include whatever supporting information as may be required by Owner. Therein, the Design/Builder may request payment as follows:
.1 for work not subject to retainage: One hundred percent (100%) of that part of the Fixed Contract Price allocated on the schedule of values to the following tasks performed by the Design/Builder’s architect and engineers: • Programming • Schematic Design • Design Development • Construction Documents • Construction Administration tasks of shop drawing review and document interpretation. .2 for work subject to retainage ninety-five percent (95%) of that part of the Fixed Contract Price allocated on the schedule of values to Construction Services to the date of the Payment Request for properly provided labor and materials, and for equipment properly incorporated in the Project, and materials or equipment necessary for the Project and properly stored at the Project site (or elsewhere if off-site storage is approved in writing by the Owner, such approval not to be unreasonably withheld), less the total amount of previous payments received from the Owner and Closeout line item, less the total amount of previous payments received from the Owner. Any payment on account of stored materials or equipment will be subject to the Design/Builder providing written proof that the Owner has title to such materials or equipment and that they are fully insured against loss or damage.
Submission of Payment Requests. On or before the 25th day of each month after commencement of performance, but no more frequently than once monthly, the Contractor may submit to the Municipality’s Representative a payment request for the period ending the last day of the month. Said payment request shall be the in a format acceptable to the Municipality and shall include whatever supporting information as may be required by the Municipality. Therein, the Contractor may request payment as follows:
Submission of Payment Requests. On or before the 25th day of each month after commencement of performance, but no more frequently than once monthly, the Design/Builder may submit to the Owner’s Representative a payment request for the period ending the last day of the month. Said payment request shall be on made and shall include whatever supporting information as may be required by the Design Professional, the Owner or both. Therein, the Design/Builder may request payment as follows:
Submission of Payment Requests. When a Team Member wishes to submit a payment request, this Team Member shall notify the Team and provide the information required by the Team Rules in support of the payment request. Each Team has full authority to decide the information and documentation needed in order to submit a complete request for payment. Under the default rule, this information and documentation shall include a description of the reason for payment and an estimate of expenses. Teambrella recommends that the Team Member submitting the payment request provide as much pertinent information as possible to persuade other Team Members to vote in favor of the payment request. Teambrella recommends that the Team Members adopt Team Rules regarding: a) appropriate methods for estimating expenses; b) acceptable supporting documentation; c) the voting process, including voting time period and any extensions of the same, and the voting thresholds for approving the request for payment; d) treatment of later-discovered hidden damage or harm which was not included in the original request and e) maximum payment amounts.
Submission of Payment Requests. All Payments and Request Files submitted by Company to Bank in connection with WA IP Services must be in the agreed upon format and comply with this section, all Supporting Documents, and Setup Forms.
a. Company may elect to submit Request Files to Bank via the Payment Portal, by SFTP or both by SFTP or both or by other method or delivery channel designated (e.g., API)