Common use of Deductions from Monies Due Clause in Contracts

Deductions from Monies Due. The Department may deduct from monies due or to become due the CM/GC for: (a) amounts representing price adjustments authorized under the commodity escalation/de-escalation provisions of any Special Provision(s) of the GMP Amendment or any Early Work Amendment; (b) amounts representing recoupment of damages, including but not limited to liquidated damages; (c) amounts assessed by other governmental agencies (e.g., fines and penalties) for which the CM/GC is responsible under the terms or the Contract or by law; (d) amounts the Department is compelled by court order or other legal mandate to withhold and/or tender to other governmental agencies or third parties; (e) amounts as reimbursement for Department payments made on behalf of the CM/GC or to meet the CM/GC’s obligations, as authorized under terms of the Contract; and (f) any other amounts authorized under the Contract or by law to be deducted or withheld.

Appears in 4 contracts

Samples: www.tn.gov, www.tn.gov, www.tn.gov

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