Common use of Submittal and Processing of Payments Clause in Contracts

Submittal and Processing of Payments. A. Contractor shall submit Requests for Payment to the Southeastern Oakland County Water Authority. 1. Request for payment may be submitted for individual addresses or for groups of addresses completed. 2. All such payments will be based on the number of units of each item completed. 3. Requests for Payment will be processed by the Southeastern Oakland County Water Authority as provided in the General Conditions. B. Payment for the Work shall be provided only after final completion and acceptance of the Work at each individual address. C. Southeastern Oakland County Water Authority may regulate the payment and retainage of payments in accordance with the Contract Documents. 1. Retainage shall be no greater than 5% of the dollar value of the work completed. 2. Southeastern Oakland County reserves the right to regulate the payment of retained earnings based on the establishment of restoration after acceptance of the Work.

Submittal and Processing of Payments. A. Contractor shall submit Requests for Payment to the Southeastern Oakland County Water Authority. 1. Request for payment may be submitted for individual addresses or for groups of addresses completed. Member Community reserves the right to review, and approve, all requests for payment. 2. All such payments will be based on the number of units of each item completed. 3. Requests for Payment will be processed by the Southeastern Oakland County Water Authority as provided in the General Conditions. B. Payment for the Work shall be provided only after final completion and acceptance of the Work at each individual address. C. Southeastern Oakland County Water Authority may regulate the payment and retainage of payments in accordance with the Contract Documents. 1. Retainage shall be no greater than 5% of the dollar value of the work completed. 2. Southeastern Oakland County Water Authority reserves the right to regulate the payment of retained earnings based on the establishment of restoration after acceptance of the Work.