Payment Specifications Sample Clauses
The Payment Specifications clause defines the terms and conditions governing how and when payments are to be made under the agreement. It typically outlines the payment schedule, acceptable methods of payment, invoicing procedures, and any applicable late fees or penalties for delayed payments. By clearly detailing these aspects, the clause ensures both parties understand their financial obligations and helps prevent disputes related to payment timing or methods.
Payment Specifications. 1. Contractor shall accept premium payments in accordance with the payment procedures described in MS-IFB Section 3.3, Invoicing.
2. Contractor shall conform to the State's payment procedures for payment of administrative fees as outlined below.
a. Contractor agrees to accept monthly payments of PPPM administration fees for EGWP members based on the State's deduction report data (calculated by the State).
b. Contractor agrees to accept monthly payments of PMPM administration fees for non-EGWP members based on the State's deduction report data (calculated by the State).
c. Contractor agrees to accept payment processed through normal State transmittal process (i.e., transmittal sent to Annapolis, electronic funds transfer to Contractor). Payment is usually made by the 15th of each month for the preceding month.
d. For any recoveries as a result of fraud investigations and audits, the Contractor shall pay the State using one of the following methods:
i.) A separate check payment and provide documented substantiation; or
ii.) Claim reversals/credits for which recoveries flow through to the State in the invoice, and for which the Contractor shall provide detailed reports that specifically document such reversals/credits in order to fulfill the State's accounting requirements.
e. The Contractor agrees that the only compensation to be received by or on behalf of its organization in connection with this Plan shall be that which is paid directly by the State.
f. The Contractor agrees that, upon contract termination or expiration, the cost of any work required by a new administrator to bring records in unsatisfactory condition up to date shall be the obligation of the new administrator and such expenses shall be reimbursed by the Contractor within three (3) months of the end of the contract term.
3. Contractor shall confirm bank transfers as they occur.
Payment Specifications. 45 The Vendor shall accept payments from the State processed through the State's standard transmittal process (i.e. electronic funds transfer (EFT) to the Vendor) and by State determined due dates. The Vendor must complete a direct deposit authorization form (currently form number DFS- A1-26E rev 12/2010.) 46 The Vendor shall provide any payments to the State through the normal transmittal process (i.e. EFT transfer from the Vendor) and by State determined due dates.
Payment Specifications. Contractor shall accept payments from the State through the State's standard transmittal process (i.e. electronic funds transfer (EFT) to Contractor) and by State determined due dates. Contractor must complete a direct deposit authorization form (currently form number DFS-AI-26E rev 6/2014.) The form can be accessed at ▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇/division/aa/forms/DFS-A1-26E.pdf. Contractor shall provide any payments to the State through the normal transmittal process (i.e. EFT transfer from Contractor) and by State-determined due dates. All payments to the State shall be made separately by EFT from any payment balances due from the State. The netting of payments related to the Plan is prohibited.
Payment Specifications. AR-92 The Service Provider shall accept payments from the State processed through the State's standard transmittal process (i.e. EFT transfer to the Service Provider) and by State determined due dates. The Service Provider must complete a direct deposit authorization form (currently form number DFS-A1-26E rev.12/2010). AR-93 The Service Provider shall provide any payments to the State through the normal transmittal process (i.e. EFT transfer from the provider) and by State determined due dates.
Payment Specifications. The Vendor shall accept payments from the State processed through the State's standard transmittal process (i.e. electronic funds transfer (EFT) to the Vendor) and by State determined due dates. The Vendor must complete a direct deposit authorization form (currently form number DFS- A1-26E rev 12/2010.) The Vendor shall provide any payments to the State through the normal transmittal process (i.e. EFT transfer from the Vendor) and by State determined due dates. All payments to the State shall be made separately by EFT from any payment balances due from the State. The netting of payments related to the Plan is prohibited.
Payment Specifications. 36. Contractor shall accept payments from the Department processed through the Department's standard transmittal process (i.e. electronic funds transfer (EFT) to Contractor) and by Department determined due dates. Contractor must complete a direct deposit authorization form (currently form number DFS-A1-26E rev 12/2010).
37. Contractor shall provide any payments to the Department through the normal transmittal process (i.e. EFT transfer from Contractor) and by Department determined due dates.
38. All payments to the Department shall be made separately by EFT from any payment balances due from the State. The netting of payments related to the Plan is prohibited.