Project Progress Payment Sample Clauses
The Project Progress Payment clause establishes the terms under which payments are made to a contractor or service provider based on the completion of specific stages or milestones within a project. Typically, this clause outlines the schedule for submitting invoices, the documentation required to demonstrate progress, and the process for approval and release of funds. By linking payments to measurable progress, the clause ensures that the contractor is compensated fairly as work advances, while also protecting the client from paying for incomplete or unsatisfactory work.
Project Progress Payment. 14.4.1 Project progress payment. The payment method, payment conditions and payment time of the project progress payment are agreed in the special terms and conditions.
14.4.2 Other progress payment payable according to the specific condition of the project is agreed in the special terms and conditions.
Project Progress Payment. (1) During the course of the project, within 14 days after the engineer confirms the measurement result, the Contractor shall pay the Contractor's construction cost (progress payment) according to 85% of the actual completed project volume per month; after the steel structure enters the field and passes the acceptance test, it pays the construction project quantity and price together with the progress payment.
(2) Within 14 days from the date of completion and acceptance of the project, the Employer shall pay 90% of the cost of the actual completion of the project by the Employer.
(3) Within 14 days from the date of completion and completion of the completion settlement procedures, the Employer shall pay 97% of the total settlement cost of the Project.
Project Progress Payment. 17.3.1 Agreement on Payment 1) Mode of Payment: telegraphic transfer or acceptance ▇▇▇▇.
Project Progress Payment