Contract Rate Payments Clause Samples
The Contract Rate Payments clause defines the specific rate at which payments are to be made under the contract. It typically outlines the agreed-upon amount or formula for calculating payments, such as a fixed hourly rate, a per-unit price, or a percentage of project completion. This clause ensures both parties have a clear understanding of the payment structure, reducing the risk of disputes over compensation and providing a predictable framework for financial planning throughout the contract term.
Contract Rate Payments. The Contract Rate shall be calculated on the last business day of each calendar month hereafter (other than for increases or decreases in the Prime Rate which shall be calculated and become effective in accordance with the terms of Section 1.1) until the Maturity Date and shall be subject to adjustment as set forth herein.
Contract Rate Payments. The Contractor shall be paid for ordered work at the Contract Rates. All rates listed in Table 1 to this Exhibit are valid for the life of the contract and shall not be changed. All Labor and Equipment Rates listed in Table 1 are “fully loaded” without an additional G&A Percentage. Charges for labor, equipment, or materials not covered by Table 1 shall not be paid unless if prior written approval for the charges is received from the DTSC Contract Manager.