Common use of Project Payment Clause in Contracts

Project Payment. This is a cost-reimbursement Agreement. The Sponsor will reimburse Awardee for actual costs incurred in the performance of the project as described in the Awardee’s accepted STEM BEST® Program proposal and as outlined in the Awardee’s Budget, APPENDIX B hereof. Payments under this agreement shall not exceed the total estimated cost of $25,000. The Awardee will submit no more frequently than monthly invoices that summarize actual project expenditures, along with supporting documentation, according to the major line items in the Awardee’s Budget, APPENDIX B hereof. Sponsor will provide an invoice template and tracking spreadsheet to be used by the Awardee. Additionally, in order for the invoice to be acceptable, the invoice must comprise the following: • Organization clearly identifiable, preferably on organization’s letterhead. • Date of invoice clearly identified, on or before June 15, 2020. • Clearly defined itemized description of goods received and services performed, including date, location, product, cost, etc. • Dollar amounts clearly identified, no tax should be included. • Receipts for goods/services included with the invoice. • Proof of payment of goods/services included with the invoice.

Project Payment. This is a cost-reimbursement Agreement. The Sponsor will reimburse Awardee for actual costs incurred in the performance of the project as described in the Awardee’s accepted STEM BEST® Program proposal and as outlined in the Awardee’s Budget, APPENDIX B hereof. Payments under this agreement shall not exceed the total estimated cost of $25,00010,500. The Awardee will submit no more frequently than monthly invoices that summarize actual project expenditures, along with supporting documentation, according to the major line items in the Awardee’s Budget, APPENDIX B hereof. Sponsor will provide an invoice template and tracking spreadsheet to be used by the Awardee. Additionally, in order for the invoice to be acceptable, the invoice must comprise the following: • Organization clearly identifiable, preferably on organization’s letterhead. • Date of invoice clearly identified, on or before June 15, 2020. • Clearly defined itemized description of goods received and services performed, including date, location, product, cost, etc. • Dollar amounts clearly identified, no tax should be included. • Receipts for goods/services included with the invoice. • Proof of payment of goods/services included with the invoice.