Common use of Final Payment Audit Clause in Contracts

Final Payment Audit. Construction Manager shall submit its final accounting of the Cost of the Work and draft final Application for Payment, records and other documents of its Costs of the Work to the Architect, Owner and its auditors review to verify the Total Cost of the Work and the amount due to Construction Manager. The Owner’s auditors will review and report in writing on the Construction Manager’s final accounting within 30 days after delivery of the final accounting to the Owner by the Construction Manager. Based upon such Cost of the Work as the Owner’s auditors report to be substantiated by the Construction Manager’s final accounting, the Owner will notify the Construction Manager of the amounts the Owner’s auditors confirm are due Construction Manager. Construction Manager shall prepare a final Application for Payment based on the amounts authorized by the Auditor’s report to submit to the Owner and Architect. The Owner shall make payment to Construction Manager within 25 business days of receipt of the final Application for Payment as provided in this Paragraph and provided the other conditions of this Article and the Contract Documents have been met. SAMPLE

Final Payment Audit. Construction Manager shall submit its final accounting of the Cost of the Work and draft final Application for Payment, records and other documents of its Costs of the Work to the ArchitectEngineer, Owner and its auditors review to verify the Total Cost of the Work and the amount due to Construction Manager. The Owner’s auditors will review and report in writing on the Construction Manager’s final accounting within 30 days after delivery of the final accounting to the Owner by the Construction Manager. Based upon such Cost of the Work as the Owner’s auditors report to be substantiated by the Construction Manager’s final accounting, the Owner will notify the Construction Manager of the amounts the Owner’s auditors confirm are due Construction Manager. Construction Manager shall prepare a final Application for Payment based on the amounts authorized by the Auditor’s report to submit to the Owner and ArchitectEngineer. The Owner shall make payment to Construction Manager within 25 business days of receipt of the final Application for Payment as provided in this Paragraph and provided the other conditions of this Article and the Contract Documents have been met. SAMPLE.