Common use of Final Payments Clause in Contracts

Final Payments. Final payments constituting the entire unpaid balance of the contract sum excluding retainage shall be made by the Contractor to the Subcontractor when the work has been completed, the contract fully performed and approved by the Owner and Contractor, as-built drawings completed and three copies of all guarantees/warranties and pertinent literature have been delivered to the Contractor. Subcontractor shall submit to the Contractor’s Project Superintendent a pencil copy of the requisition for payment for the balance of labor and materials incorporated in the work by the 21st day of the month. Following approval by the project superintendent, the Subcontractor shall submit a formal copy to the Contractor’s Main Office and to the Project Superintendent by the 1st day of the following month. The Contractor will pay the amount of the requisition within forty five (45) days providing payment has been received from Owner. All final payment requisitions must be presented along with a schedule of values using AIA documents G702 and G703, a Release of Liens for Final Payment, an AIA Form G706A – Affidavit of Release of Liens and an AIA Form G706 – Affidavit of Payment of Debts and Claims. All completed payment requisitions and Release of Liens documents must be submitted to the Contractor’s main office in addition to the project site. Final payment to be made within forty five (45) days of invoice presentation providing payment has been received from customer.

Final Payments. Final payments constituting the entire unpaid balance of the contract sum excluding retainage shall be made by the Contractor to the Subcontractor when the work Subcontractor Work has been completed, the contract Agreement fully performed and approved by the Owner and Contractor, as-built drawings completed and three copies of all guarantees/warranties and pertinent literature have been delivered to the Contractor. Subcontractor shall submit to the Contractor’s Project Superintendent a pencil copy of the requisition for payment for the balance of labor and materials incorporated in the work by the 21st day of the month. Following approval by the project superintendentProject Superintendent, the Subcontractor shall submit a formal copy to the Contractor’s Main Office and to the Project Superintendent by the 1st day of the following month. The Contractor will pay the amount of the requisition within forty five (45) days providing payment has been received from Owner. All final payment requisitions must be presented along with a schedule of values using AIA documents G702 and G703, a Release of Liens for Final Payment, an AIA Form G706A – Affidavit of Release of Liens and an AIA Form G706 – Affidavit of Payment of Debts and Claims. All completed payment requisitions and Release of Liens documents must be submitted to the Contractor’s main office in addition to the project site. Final payment to be made The Contractor will pay the amount of the requisition within forty five (45) days of invoice presentation providing days, provided payment has been received from customerOwner.

Final Payments. Final payments constituting the entire unpaid balance of the contract sum excluding retainage shall be made by the Contractor to the Subcontractor when the work has been completed, the contract fully performed and approved by the Owner and Contractor, as-built drawings completed and three copies of all guarantees/warranties and pertinent literature have been delivered to the Contractor. Subcontractor shall submit to the Contractor’s Project Superintendent a pencil copy of the requisition for payment for the balance of labor and materials incorporated in the work by the 21st day of the month. Following approval by the project superintendent, the Subcontractor shall submit a formal copy to the Contractor’s Main Office and to the Project Superintendent by the 1st day of the following month. The Contractor will pay the amount of the requisition within forty five (45) days providing payment has been received from Owner. All final payment requisitions must be presented along with a schedule of values using AIA documents G702 and G703, a Release of Liens for Final Payment, an AIA Form G706A – Affidavit of Release of Liens Xxxxx and an AIA Form G706 – Affidavit of Payment of Debts and Claims. All completed payment requisitions and Release of Liens documents must be submitted to the Contractor’s main office in addition to the project site. Final payment to be made within forty five (45) days of invoice presentation providing payment has been received from customer.