PAY ESTIMATES Sample Clauses
The PAY ESTIMATES clause establishes the process by which interim payments are calculated and made to a contractor during the course of a project. Typically, it requires the contractor to submit periodic statements detailing the value of work completed and materials supplied, which are then reviewed and approved by the project owner or their representative. This clause ensures that contractors receive timely compensation for ongoing work, helping to maintain cash flow and incentivize steady project progress while providing a clear framework for payment verification and dispute resolution.
PAY ESTIMATES. The Professional shall review and comment on monthly and final estimates for payment to the contractor pursuant to the general conditions of the construction contract during the course of the construction project per the schedule assumed herein.
PAY ESTIMATES. The Professional and NBU’s Project Manager shall review and comment on monthly and final estimates for payment to the contractor pursuant to the general conditions of the construction contract during the course of the construction project per the schedule assumed herein.