Common use of Payment Request Process Clause in Contracts

Payment Request Process. The CONTRACTOR must submit a timely and accurate payment request in accordance with this Contract that includes a completed and signed Worksystems Microsoft Excel billing workbook that reports expenditures by the Service Groups and Line Items; any required supporting documentation, and a CONTRACTOR invoice requesting reimbursement. Additionally, the updated Worksystems Billing Workbook must also be submitted electronically to the Worksystems Administrative Contact (▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇.▇▇▇) at the time of the payment request. Upon receipt of the CONTRACTOR’S formal payment request with the required documentation, Worksystems will review the request for accuracy and compliance with the Contract Agreement and will issue payment within 30 days of approval. CONTRACTOR shall minimize the time elapsing between receipt of funds from this Agreement and the disbursement of these funds in order to maintain a minimum cash balance. Interest earned shall be accounted for as program income. This treatment of interest does not allow the CONTRACTOR to ignore the requirements or intent of these cash management requirements. Payment shall not be construed as a waiver of Worksystems’ right to challenge CONTRACTOR’s performance under this Agreement and to seek appropriate legal remedies.