Maximum Contract Payment Clause Samples

Maximum Contract Payment. For Phase A and Phase B, the maximum payment authorized under this Contract is [insert] (hereinafter “Maximum Contract Price”). Upon reaching seventy-five (75) percent of the Maximum Contract Price in total invoicing, Contractor shall alert AURA’s designated Contracts Officer to that fact. If AURA’s Contracts Officer has any doubt regarding whether the full SOW can be accomplished within the Maximum Contract Price, AURA may, in its sole discretion: (i) reduce the scope of work to ensure maximum value is obtained within the authorized contract amount, or (ii) increase the Maximum Contract Price by amendment to the Budget. The Contractor is not obliged to continue work beyond the target cost unless or until the contract funding is increased subject to the Limitation of Cost Clause below.