Common use of Amount and Method of Payment Clause in Contracts

Amount and Method of Payment. (Indicate the additional fee for increased scope of work or the deductive amount for decreased scope of work; including the cost of payment bonds if applicable.) $ ORIGINAL AGREEMENT AMOUNT $ AMOUNT OF ALL PREVIOUS CHANGES $ AMOUNT FOR THIS CHANGE $ NEW TOTAL AGREEMENT AMOUNT In any event, the total payment for services of Contractor shall not exceed $ and Owner shall have the right to withhold payment if Owner determines that the quantity or quality of the work performed is unacceptable in accordance with the Agreement. If change orders increase the value of the Agreement over $25,000 then the Contractor shall be required to provide payment bonds pursuant to California Civil Code sections 9550-9566.