Partial and Final Payments Sample Clauses

Partial and Final Payments. Partial payments will be made on or before the 20th of each month for 95% of the work done during the previous month, as estimated by the Engineer. The remaining 5% will be held by the City of Durham as Retainage. The Retainage amount will be increased on the monthly Pay Request only up to (1) the owner obtains written consent of ▇▇▇▇▇▇; and (2) the performance of work is satisfactory up to the 50% completion point. Notwithstanding satisfactory performance by the contractor at the 50% project completion point, the owner may still retain up to 5% retainage on subsequent payments in order to retain an overall project retainage of no more than 2.5% through completion of the project. If, however, at any point the owner finds the contractor’s performance to be “unsatisfactory,” (whether at the 50% completion point or after), the owner may “reinstate” retainage from each subsequent periodic payment up to a 5% maximum to maintain the 5% total project retainage. Monthly payments shall only be paid when the Work is progressing in accordance with the terms of the Contract. As soon as practicable after the acceptance of the work, the Contractor shall be issued a final estimate based upon the actual quantities of complete and accepted work. Within thirty days thereafter, such final estimate shall be considered for approval by the Engineer; and after it has been approved, the City shall pay the entire sum so found to be due hereunder, after deducting therefrom all previous payments and all amounts to be retained under the provisions of this Contract. All prior partial estimates may be subject to correction in the final estimate and payment. Neither the preparation of said final estimate nor its approval by the Engineer, nor the payment of said final estimate shall be construed to affect the right reserved by the City to reject the whole, or any portion, of the Work, should any of said Work be found inconsistent with any terms of the Contract, or should it be found that the preparation of said estimate or said approval of said payment otherwise was improperly done. The Contractor shall not be entitled to receive payment on partial or final estimates unless only first class workmanship and materials shall have been used. The inspection of the Work at any time shall not relieve the Contractor of the obligation to do sound and reliable work true to line and form. Any omission to disapprove of any Work by the Engineer at or before the time for any monthly or final estimate ...

Partial and Final Payments. In accordance with the provisions fully set forth in the "General Conditions" of the "Specifications", and subject to additions and deductions as provided, the CITY shall pay the CONTRACTOR as follows: (a) On the 15th day, or the first business day thereafter, of each calendar month, the CITY shall make partial payments to the CONTRACTOR on the basis of a duly certified and approved estimate of work performed during the preceding calendar month by the CONTRACTOR, less five percent (5%) of the amount of such estimate which is to be retained by the CITY until all work has been performed strictly in accordance with this Agreement and until such work has been accepted by the CITY. The parties’ rights and obligations regarding retainage are further specified in Florida Statute Section 218.735. (b) Upon submission by the CONTRACTOR of evidence satisfactory to the CITY that all payrolls, material bills and other costs incurred by the CONTRACTOR in connection with the construction of the WORK have been paid in full, and also, after all guarantees that may be required in the Specifications have been furnished and are found acceptable by the CITY, final payment on account of this Agreement shall be made within sixty (60) days after completion by the CONTRACTOR of all work covered by this Agreement and acceptance of such work by the ENGINEER and approved by the CITY.

Partial and Final Payments. ARTICLE 40.

Partial and Final Payments. Partial payments will be made on or before the 20th of each month for 95% of the work done during the previous month, as estimated by the Engineer. The remaining 5% will be held by the City of Durham as Retainage. The Retainage amount will be increased on the monthly Pay Request only up to the point that 50% of the Project, based on cost, is complete. When the project is 50% complete, the owner shall not “retain any further retainage” from periodic payments due if: (1) the owner obtains written consent of surety; and (2) the performance of work is satisfactory up to the 50% completion point. Notwithstanding satisfactory performance by the contractor at the 50% project completion point, the owner may still retain up to 5% retainage on subsequent payments in order to retain an overall project retainage of no more than 2.5% through completion of the project. If, however, at any point the owner finds the contractor’s performance to be “unsatisfactory,” (whether at the 50% completion point or after), the owner may “reinstate” retainage from each subsequent periodic payment up to a 5% maximum to maintain the 5% total project retainage. Monthly payments shall only be paid when the Work is progressing in accordance with the terms of the Contract.

Partial and Final Payments. We will prepare up to eight (8) partial payments and one (1) final payment for the project. We have assume payments will be prepared in Excel and we will prepare an example payment before the project to confirm the City is in agreement on format of the payment. We will coordinate each partial payment and final payment with MnDOT State Aid through the required Delegate Contract Process (DCP) requirements.

Partial and Final Payments. Partial payments of the foregoing will be made at monthly intervals as the work progresses, based upon certified invoices received, compatible with current practices and acceptable to the Local Entity. Payments on the fixed fee will be based on the estimated percentage of completion of work. Every request for payment must include one original and three copies of the certified invoice, along with three copies of the progress report. When the Consultant completes the work in accordance with the terms of the Agreement, the Local Entity’s liaison will certify the completion and recommend final acceptance. The Local Entity will notify the Consultant that acceptance has been made. The Local Entity reserves the right to withhold payment of the Consultant’s final payment until any and all just claims filed with the Local Entity against the Agreement have been settled. Accomplishment of an affidavit on the final claim by the Consultant will constitute full Acceptance by the Consultant of the total amount shown as the entire amount due the Consultant under the agreement.

Partial and Final Payments. Partial payments of the foregoing will be made at monthly intervals as the work progresses, based upon certified invoices received, compatible with current practices and acceptable to the Local Agency. Payments will be based upon the estimated percentage of completion of work. Every request for payment must include one original of the certified invoice, along with one original of the progress report. The Local Agency reserves the right to withhold payment of the Consultant's final payment until any and all just claims filed with the Local Agency against the Agreement have been settled. Accomplishment of an affidavit on the final claim by the Consultant shall constitute full acceptance by the Consultant of the total amount shown as the entire amount due the Consultant under the agreement.

Partial and Final Payments