PAYMENTS FOR BASIC FEE Clause Samples
The "Payments for Basic Fee" clause defines the obligation of one party to pay a specified base amount for services or goods provided under the contract. Typically, this clause outlines the payment schedule, acceptable methods of payment, and any conditions that must be met before payment is due, such as the submission of invoices or completion of certain milestones. Its core practical function is to ensure both parties have a clear understanding of the financial terms, reducing the risk of disputes over payment and providing a predictable framework for compensation.
PAYMENTS FOR BASIC FEE. 6.2.1 Payments to the Professional on account of the basic fee under Subparagraph 6.1.1 shall be made as indicated in the following paragraphs.
6.2.2 Upon completion of the Analysis/Inspection/Schematic Phase and written approval of the appropriate Using Agency, Governing Board, and Owner, a sum equal to twenty percent (20%) of the basic fee computed upon the approved estimate of construction cost shall be due.
6.2.3 Upon completion of the Construction Document Phase and written approval of the appropriate Using Agency, Governing Board, and Owner, a sum equal to sixty percent (60%) of the basic fee, less any previous payments, computed upon the approved estimate of construction cost shall be due. Such sum shall in no instance be computed upon an amount larger than the total amount available for the Project and in no event shall exceed the budget furnished by the Owner to the Professional.
6.2.4 If upon completion of the Construction Document Phase and written approval of the appropriate Using Agency or Governing Board, the Owner is unable or chooses not to execute the Bidding Phase described in Paragraph 2.5, the Professional is due a sum equal to seventy percent (70%) of the basic fee, less any previous payments, computed upon the approved estimate of construction cost. Such sum shall in no instance be computed upon an amount larger than the budget furnished by the Owner to the Professional.
6.2.5 Upon completion of the Bidding Phase, written approval of the appropriate Using Agency, Governing Board, and Owner, and receipt of an executable Construction Contract signed by the Contractor, a sum equal to seventy-five percent (75%) of the basic fee, less any previous payments, computed upon the actual Contract award amount shall be due.
6.2.6 If upon completion of the Bidding Phase and written approval of the appropriate Using Agency or Governing Board, the Owner is unable or chooses not to execute the Construction Phase described in Paragraph 2.6, the Professional is due a sum equal to seventy-five percent (75%) of the basic fee, less any previous payments, computed upon the lowest and best BASE BID [Alternates will in no case be considered.]. Such sum will in no instance be computed upon an amount larger than the BASE BID. In no instance will the fee described in this paragraph be due IF the computed total Project budget using the BASE BID amount exceeds the budget furnished by the Owner to the Professional. Refer to Paragraph 4.3.
6.2.7 Payment of fees to ...
PAYMENTS FOR BASIC FEE. 7.1.1 Payments to the Professional on account of his basic fee under Article 6 shall be made as indicated in the following paragraphs.
PAYMENTS FOR BASIC FEE. 7.1.1 Payments to the Commissioning Authority Professional on account of his basic fee under Article 6 shall be made as indicated in the following paragraphs.
7.1.2 Upon completion of the Schematic Design Phase and written approval of the Owner, a sum equal to five percent (5%) of the basic fee computed upon the approved estimate of construction cost shall be due.
7.1.3 Upon completion of the Design Development Phase and written approval of the Owner, a sum equal to fifteen percent (15%) of the basic fee, less any previous payments, computed upon the approved estimate of construction cost shall be due.
7.1.4 Upon completion of the Construction Document Phase and written approval of the Owner, a sum equal to thirty-five percent (35%) of the basic fee, less any previous payments, computed upon the approved estimate of construction cost shall be due.
7.1.5 Upon award of the Contract for Construction and written approval of the Owner, a sum equal to thirty-five percent (35%), less any previous payments, computed upon the actual awarded construction amount shall be due.
7.1.6 Payment of fees to the Commissioning Authority Professional during the Construction Phase shall be made monthly in proportion to the current percentage requested by the Contractor and approved by the Owner.
7.1.7 Fifteen percent (15%) of the Professional’s total fee shall be retained throughout the Project. When the Owner has received the Final Systems Manual as defined in Subparagraph 2.7.9, then the fifteen percent (15%) retainage will be released, minus any offsets.
7.1.8 The Owner reserves the right to determine when and who provides the Professional service items needed for this Project. Any pay request submitted by the Commissioning Authority Professional which contains service items not authorized by the Owner to be performed by the Commissioning Authority Professional may be disapproved in part, or total.