Common use of Project Close-out Clause in Contracts

Project Close-out. The Agreement Expiration Date refers to the last date for LOCAL AGENCY to incur valid Project costs or credits and is the date the Agreement expires. LOCAL AGENCY has sixty (60) days after that Expiration Date to make final allowable payments to Project contractors or vendors, prepare the Project Closeout Report, and submit the final invoice to CALTRANS for reimbursement for allowable Project costs. Any unexpended Project funds not invoiced by that sixtieth (60th) day will be reverted and will no longer be accessible to reimburse late Project invoices.

Project Close-out. The Agreement Expiration Date refers to the last date for LOCAL AGENCY to incur valid Project costs or credits and is the date the Agreement expires. LOCAL AGENCY has sixty (60) 60 days after that Expiration Date to make final allowable payments to Project contractors or vendors, prepare the Project Closeout Report, and submit the final invoice to CALTRANS for reimbursement for allowable Project costs. Any unexpended Project funds not invoiced by that sixtieth (60th) day will be reverted and will no longer be accessible to reimburse late Project invoices.

Project Close-out. The Agreement Expiration Date refers to the last date for LOCAL AGENCY to incur valid Project costs or credits and is the date the Agreement expires. LOCAL AGENCY has sixty (60) days after that Expiration Date to make final allowable payments to Project contractors or vendors, prepare the Project Closeout Report, and submit the final invoice to CALTRANS for reimbursement for allowable Project costs. Any unexpended Project funds not invoiced by that sixtieth (60th) day will be reverted and will no longer be accessible to reimburse late Project invoices.sixty