Common use of Termination of Contracts Clause in Contracts

Termination of Contracts. Addendum IV Compensation The Government, in consideration of the satisfactory performance of the services described in Addendum I (Scope of Work), agrees to make progress payments based on the Schedule of Values and invoices submitted by the Contractor [Insert Contractor’s Name or Company Name] in accordance with Clause 7 (Payments to Contractor) of the General Provisions. The parties agree that the sum to be paid under this contract is [Insert Contract price in words] [(Insert Contract price in numbers)]. The parties further agree that payments will be made in accordance with services rendered. The final payment is subject to the inspection and acceptance of the project by the Government, the submission of all pertinent warranties, and the Release of Claims. Contractor shall submit a Waiver of Liens or Affidavits of subcontractors who have released the contractor of its obligations. Contractor shall also submit Consent of Surety before final payment and, upon the Government’s request, any other documentation the Government deems necessary. ADDENDUM V Provisions from 2 CFR 200 - Appendix II

Termination of Contracts. Addendum IV Compensation The Government, in consideration of the satisfactory performance of the services described in Addendum I (Scope of Work), agrees to make progress payments based on the Schedule of Values and invoices submitted by the Contractor [Insert Contractor’s Name or Company Name] in accordance with Clause 7 (Payments to Contractor) of the General Provisions. The parties agree that the sum to be paid under this contract is [Insert Contract price in words] [(Insert Contract price in numbers)]. The parties further agree that payments will be made in accordance with services rendered. The final payment is subject to the inspection and acceptance of the project by the Government, the submission of all pertinent warranties, and the Release of Claims. Contractor shall submit a Waiver of Liens or Affidavits of subcontractors who have released the contractor of its obligations. Contractor shall also submit Consent of Surety before final payment and, upon the Government’s request, any other documentation the Government deems necessary. ADDENDUM V Provisions from 2 CFR 200 - Appendix IISTANDARD FORM APPROVED BY COMM. OF PROP. & PROC. – 7-14-71 REVISED 3-18-08 GENERAL PROVISIONS