Claims Statement Clause Samples
A Claims Statement clause defines the specific rights or entitlements a party asserts under a contract, typically outlining what is being claimed and under what circumstances. In practice, this clause details the nature of the claim, the basis for the claim, and any supporting information or documentation required to substantiate it. Its core function is to ensure that all parties are clear about the scope and grounds of any claims, thereby reducing ambiguity and potential disputes regarding entitlements or obligations under the agreement.
Claims Statement. A statement expressly made to induce Owner’s payment, detailing the Cost of the Work completed less retainage withheld, along with any Claims pertaining to that Work, sworn to by the Construction Manager and the Subcontractors, attesting to the satisfactory completion of the Work with qualifications pertaining to the Claims.
Claims Statement. (a) In respect any amount which is due as payments for Imbalance Quantities under Clause 6.3, Ship or Pay under Clause 6.1.1(a)(iv), Liquidated Damages under Clause 7.2, liability for failure to meet Specification under Clause 7.7, or any indemnity claims under Clause 14 but which is not an invoiced amount pursuant to Clause 8.1, the Party to whom such amount is owed may serve on the other Party a written statement specifying the sums owed in satisfaction of the claim, including the details in support of such claim (the “Claims Statement”). Such sums which shall be the subject to this Clause 8.12 may include amounts due but which have not been invoiced under a CT Agreement.
(b) The Party receiving a Claims Statement shall pay any such sums if relating to Imbalance Quantities under Clause 6.3 as specified in the Claims Statement which are due and payable under the relevant CT Agreements within 4 (four) Working Days after the amount of the owing Party’s liability to the other has been fully ascertained in accordance with the relevant CT Agreements. If the owing Party fails to make a payment to the other Party within such period of 4 (four) Working Days, such overdue payment shall bear Interest from the expiry of the 4 (four) Working Day period until the date upon which payment is made.
(c) The Party receiving a Claims Statement shall pay any such sums if relating to Liquidated Damages under Clause 7.2 or liability to meet specification under Clause 7.6 as specified in the Claims Statement which are due and payable under the relevant CT Agreement within 20 Working Days after the amount of the owing Party’s liability to the other has been fully ascertained in accordance with the relevant CT Agreement. If the owing Party fails to make a payment to the other Party within such period of 20 Working Days, such overdue payment shall bear Interest from the expiry of the 20 Working Day period until the date upon which payment is made.
(d) The Party receiving a Claims Statement shall pay any sums relating to indemnity claims under Clause 14 as specified in the Claims Statement which are due and payable under the relevant CT Agreement within a reasonable period of time after the amount of the owing Party’s liability to the other has been fully ascertained in accordance with the relevant CT Agreement.
Claims Statement. The Developer has delivered to the City a consent of surety identifying all outstanding claims known to it of every kind whatsoever of the Developer connected with, or arising out of, the Contract Services, and arising out of or based on events prior to the date when the Developer gives such statement to the City.
Claims Statement. The Developer has delivered to the County a consent of surety identifying all outstanding claims known to it of every kind whatsoever of the Developer connected with, or arising out of, the Design-Build Work, and arising out of or based on events prior to the date when the Developer gives such statement to the County.