Final Settlement Application Sample Clauses
The Final Settlement Application clause outlines the process by which a contractor or service provider submits their final claim for payment upon completion of the contracted work. Typically, this clause requires the submission of all necessary documentation, such as invoices, completion certificates, and evidence of fulfilled obligations, to support the final payment request. Its core practical function is to ensure that all outstanding financial matters are resolved in an organized manner, providing a clear endpoint for contractual obligations and minimizing the risk of future disputes over payment.
Final Settlement Application. (1) The number of copies of the Final Settlement Application submitted by the Contractor: In eight copies and one electronic copy. The deadline for the Contractor to submit Final Settlement Application: within 60 days upon issuance of Defects Liability Release Certificate. The Project Owner will not (will/will not) pay interests on quality assurance bond to the Contractor. If the Project Owner paid interest on quality assurance bond to the Contractor, the interests shall be calculated as /.
Final Settlement Application. (1) Unless otherwise stipulated in the Special Terms of the Contract, the Contractor shall, within 7 days upon the issuance of the Defects Liability Release Certificate, submit the Final Settlement Application according to the number of copies stipulated in the Special Terms of the Contract and relevant evidentiary materials to the Project Owner. Unless otherwise stipulated in the Special Terms of the Contract, the Final Settlement Application shall specify the Quality Deposit, the Quality Deposit that should be deducted and the increased or decreased expenses incurred during the Defects Liability Period.
(2) If the Project Owner has objections to the Final Settlement Application, they shall have the right to request the Contractor to revise and provide supplementary data, and the Contractor shall submit the revised Final Settlement Application to the Contractor.
Final Settlement Application. Number of final settlement application forms submitted by the contractor: 3 . Deadline for the contractor to submit the final settlement application form: Same as general terms .
Final Settlement Application. (1) After issuance of the Defects Liability Release Certificate, the Contractor may submit the Supervisor the Final Settlement Application in the number of copies and within the time limit agreed in the Contract, and shall provide relevant supporting materials. Refer to Special Terms and Conditions of the Contract for the number of copies of the Final Settlement Application submitted by the Contractor and the time limit of such submission. If the Project Owner pays the interest on the quality deposit to the Contractor, the Contractor shall calculate the interest according to the agreed interest calculation method and list it in the Final Settlement Application. As to whether to pay the interest on the quality deposit and the interest calculation method, refer to Special Terms and Conditions of the Contract.
(2) If the Project Owner has objections to the Final Settlement Application, it shall have the right to request the Contractor to revise and provide supplementary data, and the Contractor shall submit the revised Final Settlement Application to the Supervisor.