Common use of Payment to Subcontractors Clause in Contracts

Payment to Subcontractors. (If applicable) As required by Minnesota Statute § 16A.1245, the prime Contractor must pay all subContractors, less any retainage, within 10 calendar days of the prime Contractor’s receipt of payment from the State for undisputed services provided by the subContractor(s) and must pay interest at the rate of one and one-half percent per month or any part of a month to the subContractor(s) on any undisputed amount not paid on time to the subContractor(s).

Payment to Subcontractors. (If applicable) As required by Minnesota Statute § 16A.1245, the prime Contractor must pay all subContractorssubcontractors, less any retainage, within 10 calendar days of the prime Contractor’s receipt of payment from the State for undisputed services provided by the subContractor(ssubcontractor(s) and must pay interest at the rate of one and one-half percent per month or any part of a month to the subContractor(ssubcontractor(s) on any undisputed amount not paid on time to the subContractor(ssubcontractor(s).

Payment to Subcontractors. (If applicable) As required by Minnesota Statute § Statutes, section 16A.1245, the prime Contractor GRANTEE must pay all subContractorssubcontractors, less any retainage, within 10 ten (10) calendar days of the prime ContractorGRANTEE’s receipt of payment from the State for undisputed services provided by the subContractor(ssubcontractor(s) and must pay interest at the rate of one and one-half percent per month or any part of a month to the subContractor(ssubcontractor(s) on any undisputed amount not paid on time to the subContractor(ssubcontractor(s).