Common use of Procurement/Payment Terms/Method Clause in Contracts

Procurement/Payment Terms/Method. The FSMC shall invoice SFA at the end of each month for amounts due based on on-site records. The SFA shall make payments within _30 business days of the invoiced date. Upon termination of the Agreement, all outstanding amounts shall immediately become due and payable. This sample specifies the meal fee structure as a maximum flat fee per meal. The maximum flat fee per meal includes the allowable direct costs of the preparation and service of the reimbursable meals including food, labor, and other expenses. The final contract must be approved by the State Agency prior to execution. Any amendment of this contract must be approved by State Agency prior to execution. determined by the SFA. The method of determining the donated food values that will be used in crediting in accordance with 7 CFR 250.51(c), or the actual donated food values must be included in the bid and contract documents. The fixed price per meal/lunch equivalent may be subject to an annual escalator provision as stipulated in this contract by the SFA. Adjustment factors may include changes in federal reimbursement rates, changes in third–party cost or price indices. Annual Escalator Adjustment Factor: _Consumer Price Index Midwest Consumers Food Away from Home Seasonally Adjusted Proposals will be evaluated by a committee against the following criteria with assigned weights in the following categories. Each area of the award criteria must be addressed in detail in the proposal. The SFA must assign the weights for the criteria. 15 points Experience, References 5 points Innovation 5 points Involvement of Students, Staff and Patrons 15 points Menu and Portion Sizes (if the 21 day cycle menu is developed by the FSMC) 5 points Promotion of the School Food Service Program TOTAL: 100 points