Common use of Initial Breakdown and Periodical Payments Clause in Contracts

Initial Breakdown and Periodical Payments. If payments are made on valuation of work done, such application shall be submitted at least ten days before each payment falls due. Before the first application, the CM/GC shall submit to the Design Professional and Program Manager a schedule of values of the various parts of the work, including quantities, aggregating the total sum of the contract, divided in such manner as to facilitate payments to Trade Contractors, Suppliers, and subcontractors, on a form to be furnished by the Owner with a complete breakdown of the Lump Sum Price so arranged and so itemized as to meet the approval of the Design Professional and Program Manager and, if requested, supported by such evidence as to its correctness as the Design Professional and Program Manager may direct. The schedule, designated herein the "initial breakdown" (specimen of which will be supplied on request), when approved by the Design Professional and Program Manager, shall be used as a basis for certificates of payment unless it be found to be in error. In applying for payments, the CM/GC shall submit a statement based upon this schedule on the periodical estimate form and, if requested by the Design Professional and Program Manager or Owner, said statement shall be itemized in such form and supported by such evidence as the Design Professional and Program Manager or Owner may direct, showing the CM/GC’s right to the payment claimed on the periodical estimate. Materials stored.–If periodic payments are made on account of materials delivered and suitably stored at the site but not incorporated in the work, they shall, if required by the Owner or the Design Professional and Program Manager, be conditional upon submission by the CM/GC of bills of sale or such other procedure as will establish the Owner's title to such material or otherwise adequately protect the Owner's interest. The CM/GC is responsible for the existence, protection, and, if necessary, replacement of materials until issuance of the Final Certificate by the Design Professional and Program Manager. The Owner shall not pay for any materials stored off site.

Initial Breakdown and Periodical Payments. If payments are made on valuation of work done, such application shall be submitted at least ten days before each payment falls due. Before the first application, the CM/GC Design-Builder shall submit to the Design Professional Program Manager and Program Manager a schedule of values of the various parts of the work, including quantities, aggregating the total sum of the contract, divided in such manner as to facilitate payments to Trade Contractors, Suppliers, and subcontractors, on a form to be furnished by the Owner with a complete breakdown of the Lump Sum Price so arranged and so itemized as to meet the approval of the Design Professional Program Manager and Program Manager and, if requested, supported by such evidence as to its correctness as the Design Professional Program Manager and Program Manager may direct. The schedule, designated herein the "initial breakdown" (specimen of which will be supplied on request), when approved by the Design Professional Program Manager and Program Manager, shall be used as a basis for certificates of payment unless it be found to be in error. In applying for payments, the CM/GC Design-Builder shall submit a statement based upon this schedule on the periodical estimate form and, if requested by the Design Professional Program Manager and Program Manager or Owner, said statement shall be itemized in such form and supported by such evidence as the Design Professional Program Manager and Program Manager or Owner may direct, showing the CM/GCDesign-Builder’s right to the payment claimed on the periodical estimate. Materials stored.–If periodic payments are made on account of materials delivered and suitably stored at the site but not incorporated in the work, they shall, if required by the Owner or the Design Professional Program Manager and Program Manager, be conditional upon submission by the CM/GC Design-Builder of bills of sale or such other procedure as will establish the Owner's title to such material or otherwise adequately protect the Owner's interest. The CM/GC Design-Builder is responsible for the existence, protection, and, if necessary, replacement of materials until issuance of the Final Certificate by the Design Professional Program Manager and Program Manager. The Owner shall not pay for any materials stored off site.

Initial Breakdown and Periodical Payments. If payments are made on valuation of work done, such application shall be submitted at least ten days before each payment falls due. Before the first application, the CM/GC Design-Builder shall submit to the Design Professional Executive Administrator and Program Manager a schedule of values of the various parts of the work, including quantities, aggregating the total sum of the contract, divided in such manner as to facilitate payments to Trade Contractors, Suppliers, and subcontractors, on a form to be furnished by the Owner with a complete breakdown of the Lump Sum Price so arranged and so itemized as to meet the approval of the Design Professional Executive Administrator and Program Manager and, if requested, supported by such evidence as to its correctness as the Design Professional Executive Administrator and Program Manager may direct. The schedule, designated herein the "initial breakdown" (specimen of which will be supplied on request), when approved by the Design Professional Executive Administrator and Program Manager, shall be used as a basis for certificates of payment unless it be found to be in error. In applying for payments, the CM/GC Design-Builder shall submit a statement based upon this schedule on the periodical estimate form and, if requested by the Design Professional Executive Administrator and Program Manager or Owner, said statement shall be itemized in such form and supported by such evidence as the Design Professional Executive Administrator and Program Manager or Owner may direct, showing the CM/GCDesign-Builder’s right to the payment claimed on the periodical estimate. Materials stored.–If periodic payments are made on account of materials delivered and suitably stored at the site but not incorporated in the work, they shall, if required by the Owner or the Design Professional Executive Administrator and Program Manager, be conditional upon submission by the CM/GC Design-Builder of bills of sale or such other procedure as will establish the Owner's title to such material or otherwise adequately protect the Owner's interest. The CM/GC Design-Builder is responsible for the existence, protection, and, if necessary, replacement of materials until issuance of the Final Certificate by the Design Professional Executive Administrator and Program Manager. The Owner shall not pay for any materials stored off site.