Payment Terms – Time and Materials Services Clause Samples

Payment Terms – Time and Materials Services a) Contractor shall pay all Customer approved time in accordance with EXHIBIT A: Time & Materials Payment Terms. b) Supplier shall maintain its payroll time records and work reports in accordance with Contractor's requirements for a period of four (4) years. Contractor may audit said books and records during the term of this Agreement and for four (4) years thereafter. c) This Agreement does not entitle Supplier to any reimbursement of expenses unless approved in writing in advance by the Customer. d) It is understood and agreed that the Customer retains the right to review and amend the staff augmentation bill rates, and therefore, CAI retains the right to revise the Supplier’s staff augmentation billing rate to CAI. If CAI advises Supplier of a revision to billing rates, Supplier shall have the option to either (a) agree to the revised rate, or (b) elect to withdraw the resource from the assigned job. The Supplier may not compel CAI to pay the original rate agreed to in the Agreement. e) If a Supplier employee begins work at Customer, and the Customer determines within the first two weeks (10 business days) that the Supplier employee does not have the skills or capabilities necessary to complete the job as requested in the original requirement, or the Supplier employee resigns from the requirement within the first two weeks (10 business days), the Customer may request that the resource be replaced immediately, the requisition shall be reopened for competition within the VMS, and Contractor shall not pay for the work conducted by the unacceptable Supplier employee.