Method of Payment and Invoicing Clause Samples

Method of Payment and Invoicing. 1) All invoices shall include 2) If total costs are expected to be less than the amount listed in the invoice, Contractor will only invoice for the anticipated actual costs. 3) Financial supporting documentation is not required to be submitted with invoices; however, the County can, within 12 months of contracting, request to see financial supports for program cost. 4) Contractor shall submit invoices using the following schedule: Invoice Amount Due Date Invoice #1: shall include services that will be provided through October 1-December 31, 2019 as described in Exhibit A. $48,279.23 By January 31, 2020 Invoice #2: shall include services that will be provided through January 1-March 2020 as described in Exhibit A. $45,298.92 By April 30, 2020 Invoice #3: shall include services that will be provided through April-June 2020 as described in Exhibit A. $49,565.55 By July 31, 2020 Invoice #4: Shall include services that will be provided through July-September 2020 as described in Exhibit A. $ 45,393.18 By October 31, 2020 Invoice #5: Shall include services that will be provided through October 1-December 31, 2020 as described in Exhibit A. $ 45,712.59 By February 28, 2021 Invoice #6: Shall include services that will be provided through January 1-March 30, 2021 as described in Exhibit A. $46, 233.14 By April 30, 2021 Invoice #7: shall include services that will be provided through April-June 2021 as described in Exhibit A. $65,641.20 By July 31, 2021 Invoice #8: shall include services that will be provided through July -September 2021 as described in Exhibit A. $50,190 By October 31, 2021 Invoice #9: shall include services that will be provided through October -December 2021 as described in Exhibit A. $50,190 By January 31, 2022 Invoice #10: shall include services that will be provided through January -March 2022 as described in Exhibit A. $50,190 By April 30, 2022 Invoice #11: shall include services that will be provided April-June 2022 as described in Exhibit A. $50,190 By July 31, 2022 Invoice #12: shall include services that will be provided July - September 2022 as described in Exhibit A. $70,792 By October 31, 2022 Invoice #13: shall include services that will be provided October - December 2022 as described in Exhibit A. $70,792 By January 31, 2023 5) Invoices that exceed the aforementioned amounts or that do not adhere to the aforementioned timing and payment schedules must be pre-approved in writing by the county.

Method of Payment and Invoicing. Prohibition against advanced payments: The District cannot make advanced payment to the contractor. Accordingly, payment to the contractor must be made by the District after deliverables are received and accepted by the District. For continuing services, the District will make payment to the contractor on a pro-rata basis for the period of service for the base term left after the contractor starts the service. For example, since the Help Desk will start twelve (12) weeks after award of the definitized contract, the fixed price of $390,687 will be spread over the nine (9) remaining months of the first year. 6.1 Part 1,

Method of Payment and Invoicing. The Department shall provide payment to the Vendor in accordance with the Vendor’s proposal sheet and the Pricing Schedules in Forms F through M in Appendix K of this RFP. Payment shall be made monthly for the Department-approved Vendor staff hours worked and tasks/deliverables/requirements received and approved (as specified in Price Schedule II). The Vendor shall submit one invoice to the Project Manager and one invoice to ▇▇▇▇▇ ▇▇▇▇▇▇▇, Department Accountant, on a monthly basis for approved services and deliverables rendered to the Department in the previous month. Properly submitted invoices shall be paid within [ ] days of receipt. [note: It did not state a payment period. May one be stated? E.g. is one dictated by law?] Each monthly invoice shall have a cover letter/memo addressed to the Project Manager printed on the Vendor’s company letterhead. Attached to the Vendor’s letter/memo shall be the Vendor’s invoice. The invoice shall contain summary level descriptions of each invoiced line item. All Vendor staff signed timesheets for the billing period must be attached to the invoice. The Vendor’s staff resource and the Vendor’s Project Lead must sign each Vendor staff’s timesheet. Items appearing on the monthly Vendor’s invoice must be line items identified as part of this contract, invoiced according to the Vendor’s fixed quoted price for deliverables and a computed summary level cost for the Vendor’s staff hours worked based upon the Vendor’s quoted Rate Per Hour for each staff member multiplied by the actual hours worked. The total accumulated hours for each Vendor staff resource must not exceed the total hours quoted for each staff resource by the Vendor in their proposal response. One full copy of the invoice documentation (cover letter, invoice, and timesheets) shall also be provided to the Project Manager. During the life of the Contract for this RFP, payment of 90 percent of the amount proposal per task/deliverable/requirement will be paid to the Vendor following ▇▇▇’▇ approval of tasks/deliverables/requirements for services rendered with the exceptions noted below. The Department will retain an amount equal to 10 percent of each task/deliverable/requirement cost (withholding) which will be paid to the Vendor at the successful completion of all tasks. The Awarded Vendor’▇▇▇▇▇ acceptance of the system (as defined below). [note: This more clearly defines the holdback term to both parties’ benefit] Vendor‘s monthly invoices must show the 10 percen...