Common use of Stored Materials Clause in Contracts

Stored Materials. Payment for stored materials will not be allowed without prior written approval by the Contractor. The risk of loss for any such material shall remain with the Subcontractor until installation into the project and acceptance by the Owner. This includes, but is not limited to materials stored on site but not under the control of the Contractor. Upon approval by the Contractor, the Subcontractor must provide the following before payment is issued for stored material: