Common use of Method for Requesting Payment Clause in Contracts

Method for Requesting Payment. The CONSULTANT will submit invoices, accompanied by a detailed description of the total work accomplished on this PROJECT or PROJECT phase, if applicable, to the TRUST not more often than once per month during the progress of the CONSULTANT'S work on the PROJECT, for partial payments on the work completed to date. Such invoices will represent the value to the TRUST, of the partially completed work by CONSULTANT on the PROJECT or PROJECT phase based on the portion which such work's percentage of completion bears to the total cost of the CONSULTANT'S fully completed work in the PROJECT or PROJECT phase. In no event will the total amount of the partial payments for the PROJECT or PROJECT phase exceed the amount of funds allocated by the TRUST to the PROJECT or PROJECT phase. The CONSULTANT will submit invoices for partial payments in accordance with the following: 1. The CONSULTANT will be paid for Basic Design Services as the work is performed but not more often than once a month. At such time as the Director of Airports approves the Engineering Report and the estimate of costs the aggregate of all payments made to the engineer will equal thirty percent (30%) of the total PROJECT fee. 2. An additional total of fifty percent (50%) of the amount for each phase will be paid upon completion of TRUST approvable, detailed, working or contract plans and specifications with detailed estimates of costs for said phase of construction in a form ready for bidding. 3. An additional twenty percent (20%) of the amount for each phase will be paid as the various contractors are paid for the performance of their work until the aggregate of all payments made to the CONSULTANT will equal the amount of the fees and expenses under this CONTRACT, excluding any amounts that may become owed for extra compensation as provided for herein, and provided that ten percent (10%) of the CONSULTANT'S fee under this sub-paragraph will be withheld and not paid until the work of each construction phase is completed and accepted by the TRUST, and the record drawings are filed and accepted by the Director of Airports.

Method for Requesting Payment. The CONSULTANT will submit invoices, accompanied by a detailed description of the total work accomplished on this PROJECT or PROJECT phase, if applicable, to the TRUST not more often than once per month during the progress of the CONSULTANT'S work on the PROJECT, for partial payments on the work completed to date. Such invoices will represent the value to the TRUST, of the partially completed work by CONSULTANT on the PROJECT or PROJECT phase based on the portion which such work's percentage of completion bears to the total cost of the CONSULTANT'S fully completed work in the PROJECT or PROJECT phasePROJECT. In no event will the total amount of the partial payments for the PROJECT or PROJECT phase exceed the amount of funds allocated by the TRUST to the PROJECT or PROJECT phase. The CONSULTANT will submit invoices for partial payments in accordance with the following: 1. The CONSULTANT will be paid for Basic Design Services as the work is performed performed, but not more often than once a month. At such time as the Director of Airports FAA approves the Engineering Report and the estimate of costs costs, the aggregate of all payments made to the engineer will equal thirty percent (30%) of the total PROJECT fee. 2. An additional total of fifty percent (50%) of the amount for each phase will be paid upon completion of TRUST approvable, detailed, working or contract plans and specifications with detailed estimates of costs for said phase of construction in a form ready for bidding. 3. An additional twenty percent (20%) of the amount for each phase will be paid as the various contractors are paid for the performance of their work until the aggregate of all payments made to the CONSULTANT will equal the amount of the fees and expenses under this CONTRACT, CONTRACT excluding any amounts that may become owed for extra compensation as provided for herein, and provided that ten percent (10%) of the CONSULTANT'S fee under this sub-paragraph will be withheld and not paid until the work of each construction phase is completed and accepted by the TRUST, and the record drawings are filed and accepted by the Director of Airports.

Method for Requesting Payment. The CONSULTANT will submit invoices, accompanied by a detailed description of the total work accomplished on this PROJECT Project or PROJECT Project phase, if applicable, to the TRUST not more often than once per month during the progress of the CONSULTANT'S 's work on the PROJECTProject or Project phase, for partial payments on the work completed to date. Such invoices will represent the value to the TRUST, TRUST of the partially completed work by CONSULTANT on the PROJECT Project or PROJECT Project phase based on the portion which such work's percentage of completion bears to the total cost of the CONSULTANT'S 's fully completed work in the PROJECT Project or PROJECT Project phase. In no event will the total amount of the partial payments for the PROJECT Project or PROJECT Project phase exceed the amount of funds allocated by the TRUST to the PROJECT Project or PROJECT Project phase. Invoices for the amount and value of the work and services performed by the CONSULTANT shall meet the standards of quality as established under this Contract. The TRUST agrees to pay the CONSULTANT, as compensation for such consulting services as listed herein. The invoices shall be prepared and submitted by the CONSULTANT and be accompanied by all supporting data required by the TRUST. Payment of any invoice for any work or services is not deemed to be recognition of satisfactory performance of said work or services or a waiver of any right of the TRUST or any obligation of the CONSULTANT should it be determined later that said work or services were negligently performed or provided or were not performed or provided in accordance with the standards required by this Contract. Surveyors or other professional consultants engaged by the CONSULTANT for the normal structural, electrical or mechanical engineering services shall be billed to the TRUST by the CONSULTANT at the actual cost thereof. The CONSULTANT shall present two (2) copies of the invoice with two (2) properly executed claim vouchers to the TRUST for compensation and payment. The TRUST will review the invoice and claim voucher for payment. Should the TRUST question or request additional documentation or disapprove all or a portion of any invoice, the CONSULTANT will be notified so that it may provide additional documentation sufficient to demonstrate the invoice and claim should be paid, in whole or in part; provided, however, no invoices or claims shall be paid the aggregate of which are in excess of the total compensation amounts or limitations established herein, except as may be modified by written agreement between the TRUST and the CONSULTANT. Final payment shall not be deemed to waive any rights or obligations of the parties to this Contract. The CONSULTANT will submit invoices for partial payments in accordance with the following: 1. Progress payments made to the CONSULTANT through approval of the Schematic Design Documents shall not exceed $1,767,950.00. 2. Progress payments made to the CONSULTANT through approval of the Design Development Documents shall not exceed $3,535,900.00. 3. Progress payments made to the CONSULTANT through approval of the Construction Documents shall not exceed $5,657,440.00. 4. Progress payments made to the CONSULTANT through the award of the construction contract shall not exceed $5,728,158.00. 5. Progress payments made to the CONSULTANT through TRUST approval of the completed Project shall not exceed $6,930,364.00. The CONSULTANT will payments are to be paid for Basic Design Services as proportionately to the work level of completion of the Project construction. The proportionate amount is performed but not more often than once a monthto be consistent with the construction contractor’s percentage of completion. 6. At such time as the Director of Airports approves receives and accepts the Engineering Report and the estimate of costs the aggregate of all payments made to the engineer will equal thirty percent (30%) of the total PROJECT fee. 2. An additional total of fifty percent (50%) of the amount for each phase will be paid upon completion of TRUST approvableProject’s as-constructed record documents, detailed, working or contract plans and specifications with detailed estimates of costs for said phase of construction in a form ready for bidding. 3. An additional twenty percent (20%) of the amount for each phase will be paid as the various contractors are paid for the performance of their work until the aggregate of all payments made to the CONSULTANT will equal the amount of the fees and expenses under this CONTRACT, excluding any amounts that may become owed for extra compensation as provided for herein, and provided that ten percent (10%) of the CONSULTANT'S fee under this sub-paragraph will be withheld and shall not paid until the work of each construction phase is completed and accepted by the TRUST, and the record drawings are filed and accepted by the Director of Airports.exceed