Quarterly Summary Utilization Reports Clause Samples
The Quarterly Summary Utilization Reports clause requires one party to provide regular, typically quarterly, reports summarizing the usage or consumption of certain goods, services, or resources covered by the agreement. These reports often include data such as quantities used, trends over time, or compliance with agreed-upon thresholds, and may be submitted in a specified format to the other party. The core function of this clause is to ensure transparency and enable both parties to monitor performance, usage patterns, and adherence to contractual obligations, thereby facilitating informed decision-making and early identification of potential issues.
Quarterly Summary Utilization Reports. Each quarter, Contractor must submit a Summary Utilization Report, in a form acceptable to the CPO, comparing projected usage with actual usage. If actual usage is more than 5% below the value of projected usage (based on a percentage of the value of anticipated M/WBE expenditures), Contractor must provide an explanation for the discrepancy, and a recovery plan. Recovery plans should include a proposed revised Projected Utilization Schedule if Contractor anticipates that actual utilization will not meet projected utilization before the next quarterly report would be due. The CPO may require Contractor to meet with the City to discuss and revise the recovery plan as the CPO deems appropriate.