Use of Equivalency Method Clause Samples

The "Use of Equivalency Method" clause defines the conditions under which alternative materials, products, or methods may be accepted as substitutes for those specifically named or specified in a contract. In practice, this clause allows a contractor or supplier to propose items or approaches that are not explicitly listed, provided they can demonstrate that the alternatives are functionally equivalent or meet the required standards. This mechanism ensures flexibility in procurement or construction, enabling the use of newer technologies or cost-effective solutions while maintaining the intended quality and performance of the project.
Use of Equivalency Method. The Employer may elect under Part 7, #23.b. of the Agreement [Part 7, #41.b. of the 401(k) Agreement] to use the Equivalency Method (as defined in Section 6.5(a)) instead of the Actual Hours Crediting Method in determining whether an Employee has completed the required Hours of Service to earn a Year of Service.
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Related to Use of Equivalency Method

  • Payment Methodology The Grantee shall be reimbursed for actual, reasonable, and necessary costs based upon the Grant Budget, not to exceed the Maximum Liability established in Section 1. Upon progress toward the completion of the Scope, as described in Section A of this Grant Contract, the Grantee shall submit invoices prior to any reimbursement of allowable costs.

  • Payment Method Payment shall be made by the Contractor to the Subcontractor as follows: (choose one) ☐ - Immediately upon completion of the Services to the satisfaction of the Contractor. ☐ - Within ____ business days after completion of the Services to the satisfaction of the Contractor. ☐ - Shall be paid on a ☐ weekly ☐ monthly ☐ quarterly ☐ other ______________________ basis. If the Subcontractor completes the Services to the satisfaction of the Contractor, before the full amount or balance has been fully paid, any remaining amount shall be payable immediately. ☐ - Other: ________________________________________________________

  • Measurement method An isolation resistance test instrument is connected between the live parts and the electrical chassis. The isolation resistance is subsequently measured by applying a DC voltage at least half of the working voltage of the high voltage bus. If the system has several voltage ranges (e.g. because of boost converter) in conductively connected circuit and some of the components cannot withstand the working voltage of the entire circuit, the isolation resistance between those components and the electrical chassis can be measured separately by applying at least half of their own working voltage with those components disconnected.

  • Settlement Method For any Option, Net Share Settlement; provided that if the Relevant Settlement Method set forth below for such Option is not Net Share Settlement, then the Settlement Method for such Option shall be such Relevant Settlement Method, but only if Counterparty shall have notified Dealer of the Relevant Settlement Method in the Notice of Final Settlement Method for such Option.

  • Payment Methods A. Except as otherwise provided by this Contract, the payment method will be one or more of the following: