Common use of Payment Approval Clause in Contracts

Payment Approval. The time spent for each task shall be recorded and submitted to the Contract Administrator. Consultant shall maintain all books, papers, documents, accounting records and other evidence pertaining to time billed and to costs incurred and make such materials available at all reasonable times during the contract period. Monthly payments shall be made to the Consultant on the basis of a progress report prepared and submitted by the Consultant for work completed through the last day of the preceding calendar month. Each task shall be subject to review and approval by the Contract Administrator to determine acceptable percentage of completion. The Contract Administrator reserves the exclusive right to determine the amount of work performed and payment due the Consultant on a monthly basis. All charges must be approved by the Contract Administrator prior to payment.