Common use of Discounts, Rebates and Refunds Clause in Contracts

Discounts, Rebates and Refunds. 1. Cash discounts obtained on payments made by Construction Contractor shall accrue to Owner if (i) before making the payment, Construction Contractor included them in an application for payment and received payment therefor from Owner, or (ii) Owner has deposited funds with Construction Contractor with which to make payments; otherwise, cash discounts shall accrue to Construction Contractor. Trade discounts, rebates, refunds and amounts received from sales of surplus materials and equipment shall accrue to Owner, and Construction Contractor shall make provisions so that they can be secured.

Discounts, Rebates and Refunds. 1. Cash discounts obtained on payments made by Construction Contractor Manager shall accrue to Owner if (i) before making the payment, Construction Contractor Manager included them in an application for payment and received payment therefor therefore from Owner, or (ii) Owner has deposited funds with Construction Contractor Manager with which to make payments; otherwise, cash discounts shall accrue to Construction ContractorManager. Trade discounts, rebates, refunds and amounts received from sales of surplus materials and equipment shall accrue to Owner, and Construction Contractor Manager shall make provisions so that they can be secured.