Common use of To Prime Contractor Clause in Contracts

To Prime Contractor. À1Á Invoices for items ordered, delivered and accepted shall be submitted by the Contractor directly to the payment address shown on the purchase order/contract. All invoices shall show the Virginia Tech or state contract number and/or purchase order number; social security number Àfor individual contractorsÁ or the federal employer identification number Àfor proprietorships, partnerships, and corporationsÁ. À2Á Any payment terms requiring payment in less than 30 days will be regarded as requiring payment 30 days after invoice or delivery, whichever occurs last. This shall not affect offers of discounts for payment in less than 30 days, however. À3Á All goods or services provided under this contract or purchase order, that are to be paid for with public funds, shall be billed by the Contractor at the contract price, regardless of which public agency is being billed. À4Á The following shall be deemed to be the date of payment: the date of postmark in all cases where payment is made by mail, or the date of offset when offset proceedings have been instituted as authorized under the Virginia Debt Collection Act. À5Á Unreasonable Charges. Under certain emergency procurements and for most time and material purchases, final job costs cannot be accurately determined at the time orders are placed. In such cases, contractors should be put on notice that final payment in full is contingent on a determination of reasonableness with respect to all invoiced charges. Charges which appear to be unreasonable will be researched and challenged, and that portion of the invoice held in abeyance until a settlement can be reached. Upon determining that invoiced charges are not reasonable, the Commonwealth shall promptly notify the contractor, in writing, as to those charges which it considers unreasonable and the basis for the determination. A contractor may not institute legal action unless a settlement cannot be reached within thirty À30Á days of notification. The provisions of this section do not relieve an agency of its prompt payment obligations with respect to those charges which are not in dispute ÀCode of Virginia, _ 2.2-4363Á. B. TO SUBCONTRACTORS: A contractor awarded a contract under this solicitation is hereby obligated: ÀaÁ To pay the subcontractorÀsÁ within seven À7Á days of the contractor’s receipt of payment from the Commonwealth for the proportionate share of the payment received for work performed by the subcontractorÀsÁ under the contract; or ÀbÁ To notify Virginia Tech and the subcontractorÀsÁ, in writing, of the contractor’s intention to withhold payment and the reason. The contractor is obligated to pay the subcontractorÀsÁ interest at the rate of one percent per month Àunless otherwise provided under the terms of the contractÁ on all amounts owed by the contractor that remain unpaid seven À7Á days following receipt of payment from the Commonwealth, except for amounts withheld as stated in b. above. The date of mailing of any payment by U.S. Mail is deemed to be payment to the addressee. These provisions apply to each sub-tier contractor performing under the primary contract. A contractor’s obligation to pay an interest charge to a subcontractor may not be construed to be an obligation of the Commonwealth.