Phase I Fee Sample Clauses
The Phase I Fee clause defines the payment structure and amount due for the initial phase of a project or contract. Typically, this clause specifies the fee payable upon completion of Phase I deliverables, outlines the timing of payment, and may detail what constitutes satisfactory completion of this phase. By clearly establishing the financial terms for the first stage of work, the clause ensures both parties understand their obligations and helps prevent disputes over compensation as the project progresses.
Phase I Fee. 4.4.1.1 When predesign, programming, and planning documents have been assembled and reviewed and the tasks set forth in Article 2.2.1
(a) have been completed and approved by the Using Agency, a sum equal to 33% of the Phase I fee.
4.4.1.2 When Proposed Budget and preliminary schedule has been completed and approved by the Using Agency and Owner, and the tasks set forth in Article 2.2.1(b) and (c) are completed, a sum sufficient to increase payments to 75% of the Phase I fee.
4.4.1.3 When the RFQ/RFPs have completed, and have been approved by the Using Agency and Owner, and the tasks set forth in Article 2.2.1(d) (i) and (ii) are completed, a sum sufficient to increase payments to 95% of the Phase I fee.
4.4.1.4 When the Design Professional, CM/GC, and if applicable, the Commissioning Authority, has been selected, and the tasks set forth in Article 2.2.1(d)(iii) is completed, a sum sufficient to increase payments to 100% of the Phase I fee.