Prompt Payment of Funds Sample Clauses

Prompt Payment of Funds. No retainage will be withheld by the COUNTY from progress payments due the ENGINEER. Retainage by the ENGINEER or subcontractors is prohibited, and no retainage will be held by the ENGINEER from progress due subcontractors. Any violation of this provision shall subject ENGINEER or subcontractors to the penalties, sanctions, and other remedies specified in Section 7108.5 of the California Business and Professions Code. This requirement shall not be construed to limit or impair any contractual, administrative, or judicial remedies, otherwise available to the ENGINEER or subcontractor in the event of a dispute involving late payment or nonpayment by the ENGINEER or deficient subcontractor performance, or noncompliance by a subcontractor. This provision applies to both DBE and non-DBE prime consultants and subconsultants. Any subcontract entered into by ENGINEER relating to this Agreement, shall incorporate the provisions of this paragraph in a manner that binds the subcontractor to all of the provisions of this paragraph.
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Prompt Payment of Funds. No retainage will be held by the COMMISSION from payments due the CONSULTANT. Any retainage held by the CONSULTANT from payments due any subcontractors shall be promptly paid in full to subcontractors for satisfactory performance no later than the (10) days from the receipt of each payment the CONSULTANT receives from the COMMISSION. Federal law (49 CFR Part 26.29) requires that any delay or postponement of payment beyond thirty (30) days may take place for good cause and with the COMMISSION’s prior written approval. Any violation of this provision shall subject the CONSULTANT to the penalties, sanctions and other remedies specified in §7208.5 of the Business and Professions Code. These requirement shall not be construed to limit or impair any contractual, administrative, or judicial remedies otherwise available to the CONSULTANT in the event of a dispute involving late payment or no payment by the CONSULTANT, deficient subcontract performance, or noncompliance by a subcontractor. This provision applies to both DBE and non-DBE prime contractors or subcontractors.
Sample 1
Prompt Payment of Funds. The COUNTY shall hold retainage from the ENGINEER and shall make prompt and regular incremental acceptances of portions, as determined by the COUNTY, of the contract work, and pay retainage to the ENGINEER based on these acceptances. The ENGINEER, or subconsultant, shall return all monies withheld in retention from a subconsultant within thirty (30) days after receiving payment for work satisfactorily completed and accepted including incremental acceptances of portions of the contract work by the COUNTY. Federal law (49 CFR26.29) requires that any delay or postponement of payment over thirty (30) days may take place only for good cause and with the COUNTY’s prior written approval. Any violation of this provision shall subject the violating ENGINEER or subconsultant to the penalties, sanctions, and other remedies specified in Section 7108.5 of the Business and Professions Code. These requirements shall not be construed to limit or impair any contractual, administrative, or judicial remedies, otherwise available to the ENGINEER or subconsultant in the event of a dispute involving late payment or nonpayment by the ENGINEER, deficient subconsultant performance, or noncompliance by a subcontractor. This provision applies to both DBE and non-DBE ENGINEERs and subconsultants.
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Related to Prompt Payment of Funds

  • PROMPT PAYMENTS a. State Agencies Upon acceptance of Product or as otherwise provided by Contract, Contractor may invoice for payment. The required payment date shall be thirty (30) calendar days, excluding legal holidays, from the receipt of a proper invoice, as determined in accordance with State Finance Law §179-f(2) and 2 NYCRR Part 18. The payment of interest on certain payments due and owed by Agency may be made in accordance with State Finance Law §§179-d et. seq. and the implementing regulations (2 XXXXX §00.0 et seq.).

  • Prompt Payment Payment shall be made in accordance with Chapter 2251 of the Texas Government Code, commonly known as the Texas Prompt Payment Act. Chapter 2251 of the Texas Government Code shall govern remittance of payment and remedies for late payment and non-payment.

  • Prompt Payment Clause Payment will be made in accordance with, and within the time specified in, Government Code Chapter 4.5, commencing with Section 927.

  • PROMPT PAYMENT POLICY In accordance with Chapter 2251, V.T.C.A., Texas Government Code, payment to Engineer will be made within thirty (30) days of the day on which the performance of services was complete, or within thirty (30) days of the day on which the County Auditor receives a correct invoice for services, whichever is later. Engineer may charge a late fee (fee shall not be greater than that which is permitted by Texas law) for payments not made in accordance with this prompt payment policy; however, this policy does not apply in the event:

  • Prompt Payment Schedule Except as otherwise provided by law or regulation or in Sections 504.4 and 504.5 of this Exhibit, the Date of Payment by NYSERDA of an amount properly due and owing under this Agreement shall be no later than thirty (30) calendar days, excluding legal holidays, after Receipt of a Proper Invoice.

  • Payment of Dues Blue Shield of California offers a variety of op- tions and methods by which you may pay your dues. Please call Customer Service at the tele- phone number indicated on your Identification Card to discuss these options. Dues payments by mail should be sent to: Blue Shield of California X.X. Xxx 00000 Xxx Xxxxxxx, XX 00000-0000 Additional dues may be charged in the event that a state or any other taxing authority im- poses upon Blue Shield a tax or license fee which is calculated upon base dues or Blue Shield's gross receipts or any portion of either. Benefits designed to cover cost-sharing amounts under Medicare will be changed auto- matically to coincide with any changes in the applicable Medicare-determined Deductible and coinsurance amounts. Dues may be modi- fied to correspond with such changes. Dues are determined based on age of the Sub- xxxxxxx, subject to the right reserved by Blue Shield to modify these dues with at least sixty (60) days notice as set forth in this Agreement.

  • Payment of Settlement Amount (1) Within thirty (30) days of the Date of Execution, the Settling Defendants shall pay the Settlement Amount to Siskinds LLP, for deposit into the Trust Account.

  • PROMPT PAYMENT DISCOUNTS If a Contractor offers a discount for prompt payment, the Contractor shall include the terms of the discount on all invoices, the amounts which are due if the Authorized User meets the terms, and the number of days for which the prompt payment discount offer applies.

  • Rollovers of Settlement Payments From Bankrupt Airlines If you are a qualified airline employee who has received a qualified airline settlement payment from a commercial airline carrier under the approval of an order of a federal bankruptcy court, you are allowed to roll over up to 90 percent of the proceeds to your Traditional IRA, within 180 days after receipt of such amount, or by a later date if extended by federal law. If you make such a rollover contribution, you may exclude the amount rolled over from your gross income in the taxable year in which the airline settlement payment was paid to you. If you are a qualified airline employee who has received a qualified airline settlement payment from a commercial airline carrier under the approval of an order of a federal bankruptcy court in a case filed after September 11, 2001, and before January 1, 2007, you are allowed to roll over any portion of the proceeds into your Xxxx XXX within 180 days after receipt of such amount, or by a later date if extended by federal law. For further detailed information and effective dates you may obtain IRS Publication 590-A, Contributions to Individual Retirement Arrangements (IRAs), from the IRS or refer to the IRS website at xxx.xxx.xxx.

  • Incorporation of Prompt Payment Policy Statement into Contracts The provisions of this Exhibit shall apply to all Payments as they become due and owing pursuant to the terms and conditions of this Agreement, notwithstanding that NYSERDA may subsequently amend its Prompt Payment Policy by further rulemaking.

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