Common use of Funding Methods Clause in Contracts

Funding Methods. The Contractor shall establish an account in a financial institution of its choice for the deposit of funds for the Contractor to make payments for the performance of the Contractor’s Services during the term of the Agreement. The CHA shall deposit funds in the account identified by the Contractor, by wire-transfer or other appropriate method as determined by both parties. The Contractor shall maintain detailed records of all transactions involving this account or accounts in accordance with generally accepted accounting principles and HUD Cash Management Guidelines.