Common use of CONTRACTOR PAYMENT Clause in Contracts

CONTRACTOR PAYMENT. (a) Payments will be processed as per the frequency stated in the Contractor’s Pay Schedule, provided the provisions of this document have been complied with. (b) Prompt payment of accounts is conditional upon the receipt of timesheets/project reports that have been authorised by a duly authorised representative of the Client. The Contractor ex- pressly understands the following (as per the Conduct Regulations): (i) There is no duty to make payment for hours worked, unless it has received the relevant timesheet/project report from the Contractor, specifying those hours worked, which has been verified and signed/authorised on behalf of the Contractor. (ii) The Contractor understands and accepts that the failure to provide a timesheet/project report will lead to a delay in payment whilst the finance team conducts investigations into the hours claimed by the Contractor and the reasons that the Client has refused to authorise a timesheet/ project report in respect of those hours.