Progress Payments and Retainage. The County will make monthly progress payments to the Contractor upon written application by the Contractor, on the basis of a written estimate of the work performed during the preceding calendar month as approved by the Project Officer. However, 5% of each progress payment will be retained by the County until Final Completion and acceptance of all Work covered by the Agreement. All material and work covered by partial payments will become the property solely of the County at the time the partial payment is made. However, the Contractor will have the sole responsibility, care and custody for all materials and work upon which payments have been made until Substantial Completion. When calculating payment for materials on-site, the County shall not pay for materials which are not scheduled for incorporation into the Work within sixty (60) days from the date of application for payment.
Progress Payments and Retainage. Partial payments may be made by the City on a monthly basis. Partial payments will be based on an estimate of the percentage of completion for the work. Progress payments shall not be considered an acceptance or approval of any of the work or a waiver of any defects therein. The City may reserve, as retainage from progress payments, an amount not to exceed five percent of the payment. The Contractor shall have the right to have cash retainage deposited in an interest-bearing account, in accordance with ORS 279C.550. The City does not accept deposit bonds or securities in lieu of cash retainage.
Progress Payments and Retainage. The Contractor shall submit Applications for Payment to the Department. The Department will make progress payments from the Contract Sum to the Contractor, in accordance with the provisions of the Prompt Payment Schedules found in the Commonwealth Procurement Code, 62 Pa. C.S. §3931- §3939, and the Administrative Procedures, both of which are incorporated herein by reference and made a part hereof as if those provisions were fully and at length herein recited, except that, where those provisions refer to the government agency, it is deemed to refer to the Department of General Services. The Department will retain a portion of the amount due to the Contractor to insure the proper performance of the Work by the Contractor in each Application for Payment, in accordance with the provisions of Retainage found in the Commonwealth Procurement Code, 62 Pa. C.S. §3921 and the General Conditions of the Construction Contract, both of which are incorporated herein by reference and made a part hereof as if those provisions were fully and at length herein recited, except that, where those provisions refer to the government agency, it is deemed to refer to the Department.
Progress Payments and Retainage. ACPS will make monthly progress or partial payments to the Contractor upon written application by the Contractor, on the basis of an estimate, provided by the Contractor and approved by ACPS, of all work performed during the preceding calendar month to the satisfaction of ACPS. However, in making any progress payment, five percent (5%) of the amount of the estimate upon which the progress payment is based will be retained by ACPS until Final Completion and acceptance of all Work covered by the Agreement. All material and work covered by partial payments made by ACPS will become the property solely of ACPS at the time the partial payment is made, but this provision will not be construed as relieving the Contractor from the sole responsibility, care and custody for all materials and work upon which payments have been made, or the restoration of any damaged work, nor shall this provision be construed as a waiver of ACPS's right to require the fulfillment of all of the terms of the Agreement. When calculating payment for materials on-site, ACPS shall not pay for materials which are not scheduled for incorporation into the Work within thirty (30) days from the date of application for payment.
Progress Payments and Retainage. Unless otherwise prohibited by conditions for payment and receipt of the federal grant by the City, this contract shall be subject to the provisions for security for completion of performance provided in Minnesota Statutes, Sections 15.71 through 15.74.
Progress Payments and Retainage. As it completes portions of the Work, the Contractor may request progress payments from the Owner. Progress payments shall be made by the Owner based on the Owner's estimate of the value of the Work properly completed by the Contractor since the time the last progress payment was made. The "estimate of the value of the work properly completed" shall include the net invoice value of acceptable, non-perishable materials actually delivered to and currently at the job site only if the Contractor provides to the Owner satisfactory evidence that material suppliers have been paid for these materials. No progress payment shall be due to the Contractor until the Contractor furnishes to the Owner:
Progress Payments and Retainage. 8.1. By the 5th day of each month, Contractor shall submit to the City for review and approval, an application for payment fully completed and signed by Contractor covering the work completed through the last day of the prior month and accompanied by such supporting documentation as is required by these contract documents, including without limitation, time sheets, invoices, receipts, bills of lading, and all other documents the City may require. Materials on hand but not complete in place may not be included for payment at the discretion of the City. Each subsequent application for payment shall include an affidavit of Contractor providing that all previous progress payments received on account of the work have been applied to discharge in full all of Contractor's obligations reflected in prior applications for payment.
Progress Payments and Retainage. Not later than the first of each month, the Construction Manager shall furnish to the Owner an Application for Payment for completed work and materials purchased for the Project and stored on the site. After the Application has been found acceptable by the Owner, the Owner shall pay the Construction Manager not later than thirty-one (31) days, ninety percent (90%) of the Application value, less any previous payments, until five percent (5%) of the total contract price is held in retainage. Thereafter, the Application will be paid, less previous payments, so that five percent (5%) of the total contract price is held as retainage until the final payment. At the Owner’s sole discretion the retainage may be redu prior to issuance of the final payment if the Owner receives a written request from the Cons consent of the surety as required by state law. The Owner is under no obligation to partially however, if partial retainage is released, the Owner shall not release retainage below 200% outstanding work. After official acceptance of the work by the Owner, the Owner shall, aft provided by law, pay the entire balance due, after deducting all amounts to be retained unde Contract Documents or by law.
Progress Payments and Retainage. The Owner shall make progress payments on a monthly basis for work accomplished in accordance with General Conditions, Article 5. Prior to Substantial Completion, monthly progress payments shall be made in an amount equal to the percentage indicated below less payments previously made and amount withheld in accordance with Article 15 including Sections 15.01.E and 15.01.F of the General Conditions:
Progress Payments and Retainage. 5.1 Based upon Applications for Release of Payment submitted to the Funding Agency by the Contractor, the Funding Agency will authorize the financing provider to release progress payments to the Contractor, in accordance with the provisions of the Prompt Payment Schedules found in the Commonwealth Procurement Code, 62 Pa. C.S. §3931-§3939, and the Administrative Procedures, which are both incorporated by reference and made a part hereof as if those provisions were fully and at length recited, except that, where those provisions refer to the government agency, it is deemed to refer to the Funding Agency. The Funding Agency will retain a portion of the amount due to the Contractor to insure the proper performance of the Contractor in each Application for Release of Payment in accordance with the provisions of Retainage found in the Commonwealth Procurement Code, 62 Pa. C.S. §3921, and the General Conditions, which are both incorporated by reference and made a part hereof as if those provisions were fully and at length recited, except that, where those provisions refer to the government agency, it is deemed to refer to the Funding Agency.
