Monthly Performance Standards Criteria Clause Samples
The Monthly Performance Standards Criteria clause sets specific benchmarks or metrics that must be met on a monthly basis to evaluate the performance of a party, typically in a service or supply agreement. These criteria might include quantitative targets such as response times, delivery rates, or quality thresholds, and are usually measured and reported at the end of each month. By establishing clear, recurring standards, this clause ensures ongoing accountability and provides a basis for addressing underperformance or triggering remedies if the agreed standards are not met.
Monthly Performance Standards Criteria. At the end of each month the Authority will use both the HCV Program Management Software (“Program Software”) and reports generated from the Department of Housing and Urban Development’s (“HUD”) Public and Indian Housing (“PIH”) Information Center (“PIC”) to measure the Contractor’s performance against each Monthly Standard listed below: (A performance schedule will be released at the beginning of each calendar year indicating the date and time Monthly Performance will be locked and evaluated.)
i. Individual Monthly Performance Standards. The Authority will measure the following standards when conducting Monthly Performance Ratings:
1) Lease Up Rate,
2) Annual Re-Examination Rate,
3) Late New Admissions,
4) Multifamily Tenant Characteristic System (MTCS) Errors, 5) Pre-Contract Housing Quality Standards (HQS), and