Final Payment Due Clause Samples
The 'Final Payment Due' clause establishes the obligation for the remaining balance to be paid at a specified point, typically upon completion of the agreed work or delivery of goods. This clause details when the last payment must be made, such as after final inspection, acceptance of services, or delivery of all contractual items. Its core function is to ensure both parties are clear on when the contract will be financially settled, reducing disputes over outstanding amounts and providing a clear endpoint for payment obligations.
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Final Payment Due. County shall make final payment of all sums due Contractor within ten (10) business days of County's execution of a final Certificate for Payment.
Final Payment Due. Final Payment is due and payable by Owner, subject to all allowable offsets and deductions, on the thirtieth (30th) day following Owner’s approval of the Application for Payment. If Contractor disputes any amount deducted by Owner, Contractor shall give notice of the dispute on or before the thirtieth (30th) day following receipt of Final Payment. Failure to do so will bar any subsequent claim for payment of amounts deducted.
Final Payment Due. Final Payment is due and payable by the Owner, subject to all allowable offsets and deductions, on the 31st day following the Owner’s approval of the Application for Payment. If the CM-at-Risk disputes any amount deducted by the Owner, the CM- at-Risk shall give notice of the dispute on or before the thirtieth (30th) day following receipt of Final Payment. Failure to do so will bar any subsequent claim for payment of amounts deducted.
Final Payment Due. The Authority shall make final payment of all sums due the Contractor within ten (10) business days of the Authority's execution of a final Certificate for Payment.