Contractor Final Payment Sample Clauses
The Contractor Final Payment clause defines the terms and conditions under which the contractor receives their last payment upon completion of the contracted work. Typically, this clause outlines the requirements that must be met before final payment is issued, such as submission of all deliverables, completion of any outstanding work, and resolution of any claims or disputes. It may also specify the documentation needed, like lien waivers or completion certificates. The core function of this clause is to ensure that all contractual obligations are fulfilled before the contractor is fully compensated, thereby protecting the interests of the party making the payment and ensuring project completion to agreed standards.
Contractor Final Payment. A/E shall process and certify final payment including retention only after all items of the contract are completed. A/E shall ensure that the final pay request package is complete in accord with the contract prior to forwarding to CDB.
A. A/E shall obtain from the contractor all releases, waivers of lien, and the contractor’s final declaration form (CDB Form CFD).
B. A/E shall reconcile all waivers and provide a statement of final accounting to CDB when the final waivers are not for the full amount of the subcontract.
C. The A/E shall complete a Contractor’s Performance Evaluation (CPE) and forward this along with the contractor’s final pay request to CDB.
D. The A/E shall acknowledge receipt of the contractor’s record drawings on the contractor’s final closeout package (CFCP) form. This form shall be used as a checklist of the required documentation for closeout and it shall be transmitted with the contractor’s final pay request to the CDB PM.
Contractor Final Payment. CM shall review and approve final payment, including retention, only after all items of the contract are completed. CM shall ensure that the final pay request package is complete in accord with the contract prior to forwarding to CDB. CM shall obtain from the contractor all releases, waivers of lien, and contractor’s final declaration (CDB Form CFD). CM shall forward final payment package to A/E for signature and processing.
Contractor Final Payment. CM shall recommend final Contractor payment to JWA once all contractual requirements have been satisfied.
Contractor Final Payment. The Consultants shall process and certify the final payment of the contractor including retention only after all items of the contract are completed. The Consultants shall ensure that the final payment request package is complete in accord with the contract prior to forwarding to the Contracting Authority