Performance Statement definition
Examples of Performance Statement in a sentence
The GLO shall disburse each Program’s retained funds within thirty (30) days following approval of each Program Completion Report and all related closeout documentation necessary to determine that Subrecipient has completed all Activities in accordance with the terms and requirements of the Performance Statement, the Contract Documents, and all applicable laws, rules, and regulations.
To ensure all programmatic requirements are met for each Program, the GLO shall only release the final five percent (5%) of each Program Budget upon submittal of completion and acceptance by the GLO of all Activities and Benchmarks identified in each Program’s Performance Statement.
The GLO shall make a final disbursement only upon receipt of documentation sufficient to determine that Subrecipient has completed the Activities in accordance with the Performance Statement, the Contract Documents, and all applicable laws, rules, and regulations.
To ensure full performance of the Project, the GLO has set aside an amount equal to five percent (5%) of Subrecipient’s subaward until completion and acceptance by the GLO of all Activities and Benchmarks identified in the Performance Statement in Attachment A.
A proposed Revision to any Performance Statement does not require application of the formal Amendment process established in Section 8.15, above, but must be approved by the GLO, in writing, in order to take effect.