Common use of 5Payment Clause in Contracts

5Payment. All payments shall be made as per the conditions set forth in the work order after the City’s receipt and approval of vendor’s invoice and a service delivery report documenting what progress has been made on the work to be performed under this Agreement since the date of the invoice most recently submitted by the vendor. In the event that the City pays within ten (10) days of receipt of invoice, a 3% prompt pay discount will be taken. The aggregate amount set forth in the work order represents the full and final amount to be paid by the City for all hardware, software, and/or services rendered and for all investigation, analysis, design, and supervision performed, and all labor, supplies, materials, equipment or use thereof provided, and for all other expenses incurred and incidentals necessary to complete the work to provide a fully integrated and operational System. The City shall not be obligated to pay any other compensation, fees, charges, prices or costs, nor shall vendor charge any additional compensation for completing the work order of the Statement of Work. All costs invoiced to the City, shall be associated with an active and open work order. Payment does not constitute whole or partial acceptance of work performed; City acceptance of shall only occur by formal written notice to that effect.