Common use of CONTRACTOR PAYMENT Clause in Contracts

CONTRACTOR PAYMENT. 1. For the performance of the services and tasks described herein, based upon review and approval by the Department, the Contractor shall receive a maximum dollar amount not to exceed $1,076,926.00 for the period October 1, 2016 through September 30, 2019. 2. The Contractor agrees to utilize Department funds in accordance with the Financing Summary Forms located herein. Any adjustments to the line item totals included in the Financing Summary require prior written approval by the Department 3. The Contractor will submit a written request for payment on a quarterly basis. Each payment request must be submitted on a DSS W-1270 Form to the Department’s program representative located at ▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇. Requests for payment will be honored and funds will be released based on submission by the Contractor, with review and acceptance by the Department, of quarterly status and financial reports described in Section E below; the availability of funds; and the Contractor’s satisfactory compliance with the terms of the contract. 4. When the Department’s review of any financial report or on-site examination of the Contractor’s financial records indicate that under-expenditure or under-utilization of contract funds is likely to occur by the end of the contract year, the Department may, with advance notice to the Contractor, alter the payment schedule for the balance of the contract period.