Common use of Subcontractor Payment Clause in Contracts

Subcontractor Payment. ADVERTISING PROVIDER shall pay any subcontractor within ten days of ADVERTISING PROVIDER’s receipt of payment from City for undisputed services provided by the subcontractor. ADVERTISING PROVIDER shall pay interest of 1 ½ percent per month or any part of a month to the subcontractor on any undisputed amount not paid on time to the subcontractor. The minimum monthly interest penalty payment for an unpaid balance of $100.00 or more is $10.00. For an unpaid balance of less than $100.00, ADVERTISING PROVIDER shall pay the actual penalty due to the subcontractor. A subcontractor who prevails in a civil action to collect interest penalties from ADVERTISING PROVIDER must be awarded its costs and disbursements, including attorney’s fees, incurred in bringing the action. City shall not be liable to pay any penalty or interest payment required by this Section.