Common use of Payment Reduction Clause in Contracts

Payment Reduction. If LADOTD/LTRC determines, by audit or otherwise, which determination shall be conclusive, that the financial participation properly attributable to the NEVI Formula Program is less than the amount authorized for reimbursement, the Consultant shall, at LADOTD/LTRC’s request, refund to LADOTD/LTRC the amount by which the reimbursement exceeds the justified financial participation within 60 days of LADOTD/LTRC’s demand. In lieu of these requirements, LADOTD/LTRC may, by letter, adjust the amount of funds authorized for reimbursement under this Contract to reflect the actual justified amount. Payments to the Consultant for services rendered by the Consultant shall be made per the schedule provided above. The payments shall be based on a standard certified correct invoice. Invoices reflecting the amount and value of work accomplished to the date of such submission shall be submitted directly to the Project Manager. The invoice shall also show the total of previous payments on account of this contract, and the amount due and payable as of the date of the current invoice.