Common use of Application for Final Payment Clause in Contracts

Application for Final Payment. On or about the date Design-Builder delivers its Affidavit of Final Completion, Design-Builder shall prepare and submit a proposed Application for Final Payment showing the proposed total amount due Design-Builder. In addition to meeting all other requirements for invoices under the Agreement, the Application for Final Payment shall list all Unresolved Disputes and all existing or threatened claims, and Liens by Subcontractors, laborers, Utility Owners or other third parties relating to the Project, including any notices filed or to be filed with the Affidavit of Final Completion. The Application for Final Payment must state the amount at issue associated with each such notice. The Application for Final Payment must be accompanied by (a) complete and legally effective releases or waivers of Liens satisfactory to VPRA from all Persons legally eligible to file Liens in connection with the Work, (b) consent of Surety(ies) to Final Payment, (c) the release and affidavit required by Section 11.5.2, and (d) such other documentation as VPRA may reasonably require. Prior applications and payments will be subject to correction in the proposed Application for Final Payment. Change Notices filed concurrently with the Application for Final Payment must be otherwise timely and meet all requirements under Articles 12 and 18. If a Subcontractor or Supplier refuses to furnish a release or waiver required by VPRA, Design-Builder may furnish a bond satisfactory to VPRA to indemnify VPRA against such Lien. VPRA will review Design-Builder’s proposed Application for Final Payment and will provide changes or corrections to Design-Builder.