Common use of USED IN CIRCUMSTANCES WHERE THE Clause in Contracts

USED IN CIRCUMSTANCES WHERE THE. SUBCONTRACT IS A PT PCP SUBCONTRACT (AS DEFINED IN THE MANAGING CONTRACTOR CONTRACT) AND THE CONTRACTOR SHOULD ADAPT IT AS REQUIRED TO COMPLY WITH THE REQUIREMENTS SET OUT IN THE MANAGING CONTRACTOR CONTRACT AND BE OTHERWISE CONSISTENT WITH THE PAYMENT TIMES PROCUREMENT CONNECTED POLICY. IF THIS SUBCONTRACT IS A REPORTING ENTITY SUBCONTRACT, THIS CLAUSE SHOULD BE PRESERVED, AND THE ADDITIONAL TEXT IN PARAGRAPH (A) SHOULD BE INCLUDED] The Payment Times Procurement Connected Policy [applies/does not apply] to this Subcontract. [IF THIS SUBCONTRACT IS NOT A PT PCP SUBCONTRACT, INCLUDE - Paragraphs (b) to (f) of this clause 20.1 of the Special Conditions will not apply when the Payment Times Procurement Connected Policy does not apply to this Subcontract.] Notwithstanding clause 11.5 of the Conditions of Subcontract (and the corresponding Subcontract Particular), the Contractor will pay the Subcontractor: subject to paragraph (c), within 20 days after the acknowledgement of the satisfactory delivery of the goods or services and receipt of a Correctly Rendered Invoice. If this period ends on a day that is not a business day, payment is due on the next business day; and subject paragraph (d), for payments made by the Contractor after the payment is due, the unpaid amounts plus interest on the unpaid amount calculated in accordance with paragraphs (d) and (e); Subparagraph (b)(i) does not limit any obligation to comply with applicable Statutory Requirements that provide a shorter payment period than the period specified in subparagraph (b)(i). The Contractor is not required to pay any interest in accordance with subparagraph (b)(ii) if either: the Commonwealth has failed to pay the Contractor in accordance with the timeframes and requirements under the Managing Contractor Contract; or the amount of interest payable is less than $100 (GST inclusive). Interest payable under subparagraph (b)(ii): will be simple interest calculated in respect of each day from the day after the amount was due and payable, up to and including the day that the Contractor effects payment; and will be paid at the Australian Taxation Office-sourced General Interest Charge Rate current at the due date for payment. The Subcontractor may make a complaint to the PT PCP Policy Team or to the Commonwealth in accordance with the Payment Times Procurement Connected Policy if there has been a non-compliance with the requirements of paragraph (b). Downstream Reporting Entity Subcontract [THIS CLAUSE IS TO BE USED IN CIRCUMSTANCES WHERE THE SUBCONTRACT IS A REPORTING ENTITY SUBCONTRACT (AS DEFINED IN THE MANAGING CONTRACTOR CONTRACT) AND THE CONTRACTOR SHOULD ADAPT IT AS REQUIRED TO COMPLY WITH THE REQUIREMENTS SET OUT IN THE MANAGING CONTRACTOR CONTRACT AND BE OTHERWISE CONSISTENT WITH THE PAYMENT TIMES PROCUREMENT CONNECTED POLICY] If the Subcontractor enters into a PT PCP Subcontract, it must include provisions equivalent to those in clause 20.1(a) to (f) of the Special Conditions and state that the Payment Times Procurement Connected Policy applies to that PT PCP Subcontract. If the Subcontractor enters into a Reporting Entity Subcontract, then that Reporting Entity Subcontract must include: provisions equivalent to those in clause 20.1(a) to (f) of the Special Conditions and state that the Payment Times Procurement Connected Policy applies to that Reporting Entity Subcontract; and obligations equivalent to this paragraph (b) (such that the obligations in this paragraph (b) are to continue to be flowed down the supply chain to all Reporting Entity Subcontractors).

Appears in 1 contract

Samples: Formal Agreement

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USED IN CIRCUMSTANCES WHERE THE. SUBCONTRACT IS A PT PCP SUBCONTRACT (AS DEFINED IN THE MANAGING CONTRACTOR CONTRACT) AND THE CONTRACTOR SHOULD ADAPT IT AS REQUIRED TO COMPLY WITH THE REQUIREMENTS SET OUT IN THE MANAGING CONTRACTOR CONTRACT AND BE OTHERWISE CONSISTENT WITH THE PAYMENT TIMES PROCUREMENT CONNECTED POLICY. IF THIS SUBCONTRACT IS A REPORTING ENTITY SUBCONTRACT, THIS CLAUSE SHOULD BE PRESERVED, AND THE ADDITIONAL TEXT IN PARAGRAPH (A) SHOULD BE INCLUDED] The Payment Times Procurement Connected Policy [applies/does not apply] to this Subcontract. [IF THIS SUBCONTRACT IS NOT A PT PCP SUBCONTRACT, INCLUDE - Paragraphs (b) to (f) of this clause 20.1 of the Special Conditions will not apply when the Payment Times Procurement Connected Policy does not apply to this Subcontract.] Notwithstanding clause 11.5 12.5 of the Conditions of Subcontract (and the corresponding Subcontract Particular), the Contractor will pay the Subcontractor: subject to paragraph (c), within 20 days after the acknowledgement of the satisfactory delivery of the goods or services and receipt of a Correctly Rendered Invoice. If this period ends on a day that is not a business day, payment is due on the next business day; and subject paragraph (d), for payments made by the Contractor after the payment is due, the unpaid amounts plus interest on the unpaid amount calculated in accordance with paragraphs (d) and (e); Subparagraph Paragraph (b)(i) does not limit any obligation to comply with applicable Statutory Requirements that provide a shorter payment period than the period specified in subparagraph paragraph (b)(i). The Contractor is not required to pay any interest in accordance with subparagraph paragraph (b)(ii) if either: the Commonwealth has failed to pay the Contractor in accordance with the timeframes and requirements under the Managing Contractor Contract; or the amount of interest payable is less than $100 (GST inclusive). Interest payable under subparagraph paragraph (b)(ii): will be simple interest calculated in respect of each day from the day after the amount was due and payable, up to and including the day that the Contractor effects payment; and will be paid at the Australian Taxation Office-sourced General Interest Charge Rate current at the due date for payment. The Subcontractor may make a complaint to the PT PCP Policy Team or to the Commonwealth in accordance with the Payment Times Procurement Connected Policy if there has been a non-compliance with the requirements of paragraph (b). Downstream Reporting Entity Subcontract [THIS CLAUSE IS TO BE USED IN CIRCUMSTANCES WHERE THE SUBCONTRACT IS A REPORTING ENTITY SUBCONTRACT (AS DEFINED IN THE MANAGING CONTRACTOR CONTRACT) AND THE CONTRACTOR SHOULD ADAPT IT AS REQUIRED TO COMPLY WITH THE REQUIREMENTS SET OUT IN THE MANAGING CONTRACTOR CONTRACT AND BE OTHERWISE CONSISTENT WITH THE PAYMENT TIMES PROCUREMENT CONNECTED POLICY] If the Subcontractor enters into a PT PCP Subcontract, it must include provisions equivalent to those in clause 20.1(a) to (f) of the Special Conditions and state that the Payment Times Procurement Connected Policy applies to that PT PCP Subcontract. If the Subcontractor enters into a Reporting Entity Subcontract, then that Reporting Entity Subcontract must include: provisions equivalent to those in clause 20.1(a) to (f) of the Special Conditions and state that the Payment Times Procurement Connected Policy applies to that Reporting Entity Subcontract; and obligations equivalent to this paragraph (b) (such that the obligations in this paragraph (b) are to continue to be flowed down the supply chain to all Reporting Entity Subcontractors).

Appears in 1 contract

Samples: Formal Agreement

USED IN CIRCUMSTANCES WHERE THE. SUBCONTRACT IS A PT PCP SUBCONTRACT (AS DEFINED IN THE MANAGING CONTRACTOR DESIGN SERVICES CONTRACT) AND THE CONTRACTOR CONSULTANT SHOULD ADAPT IT AS REQUIRED TO COMPLY WITH THE REQUIREMENTS SET OUT IN THE MANAGING CONTRACTOR DESIGN SERVICES CONTRACT AND BE OTHERWISE CONSISTENT WITH THE PAYMENT TIMES PROCUREMENT CONNECTED POLICY. IF THIS SUBCONTRACT IS A REPORTING ENTITY SUBCONTRACT, THIS CLAUSE SHOULD BE PRESERVED, AND THE ADDITIONAL TEXT IN PARAGRAPH (A) SHOULD BE INCLUDED] The Payment Times Procurement Connected Policy [applies/does not apply] to this Subcontract. [IF THIS SUBCONTRACT IS NOT A PT PCP SUBCONTRACT, INCLUDE - Paragraphs (b) to (f) of this clause 20.1 11.1 of the Special Conditions will not apply when the Payment Times Procurement Connected Policy does not apply to this Subcontract.] Notwithstanding clause 11.5 of the Conditions of Subcontract (and the corresponding Subcontract Particular), the Contractor Consultant will pay the SubcontractorSubconsultant: subject to paragraph (c), within 20 days after the acknowledgement of the satisfactory delivery of the goods or services and receipt of a Correctly Rendered Invoice. If this period ends on a day that is not a business day, payment is due on the next business day; and subject paragraph (d), for payments made by the Contractor Consultant after the payment is due, the unpaid amounts plus interest on the unpaid amount calculated in accordance with paragraphs (d) and (e); Subparagraph (b)(i) does not limit any obligation to comply with applicable Statutory Requirements that provide a shorter payment period than the period specified in subparagraph (b)(i). The Contractor Consultant is not required to pay any interest in accordance with subparagraph (b)(ii) if either: the Commonwealth has failed to pay the Contractor Consultant in accordance with the timeframes and requirements under the Managing Contractor Design Services Contract; or the amount of interest payable is less than $100 (GST inclusive). Interest payable under subparagraph (b)(ii): will be simple interest calculated in respect of each day from the day after the amount was due and payable, up to and including the day that the Contractor Consultant effects payment; and will be paid at the Australian Taxation Office-sourced General Interest Charge Rate current at the due date for payment. The Subcontractor Subconsultant may make a complaint to the PT PCP Policy Team or to the Commonwealth in accordance with the Payment Times Procurement Connected Policy if there has been a non-compliance with the requirements of paragraph (b). Downstream Reporting Entity Subcontract [THIS CLAUSE IS TO BE USED IN CIRCUMSTANCES WHERE THE SUBCONTRACT IS A REPORTING ENTITY SUBCONTRACT (AS DEFINED IN THE MANAGING CONTRACTOR DESIGN SERVICES CONTRACT) AND THE CONTRACTOR CONSULTANT SHOULD ADAPT IT AS REQUIRED TO COMPLY WITH THE REQUIREMENTS SET OUT IN THE MANAGING CONTRACTOR DESIGN SERVICES CONTRACT AND BE OTHERWISE CONSISTENT WITH THE PAYMENT TIMES PROCUREMENT CONNECTED POLICY] If the Subcontractor Subconsultant enters into a PT PCP Subcontract, it must include provisions equivalent to those in clause 20.1(a11.1(a) to (f) of the Special Conditions and state that the Payment Times Procurement Connected Policy applies to that PT PCP Subcontract. If the Subcontractor Subconsultant enters into a Reporting Entity Subcontract, then that Reporting Entity Subcontract must include: provisions equivalent to those in clause 20.1(a11.1(a) to (f) of the Special Conditions and state that the Payment Times Procurement Connected Policy applies to that Reporting Entity Subcontract; and obligations equivalent to this paragraph (b) (such that the obligations in this paragraph (b) are to continue to be flowed down the supply chain to all Reporting Entity Subcontractors).

Appears in 1 contract

Samples: defence.gov.au

USED IN CIRCUMSTANCES WHERE THE. SUBCONTRACT IS A PT PCP SUBCONTRACT (AS DEFINED IN THE MANAGING CONTRACTOR CONTRACT) AND THE CONTRACTOR SHOULD ADAPT IT AS REQUIRED TO COMPLY WITH THE REQUIREMENTS SET OUT IN THE MANAGING CONTRACTOR CONTRACT AND BE OTHERWISE CONSISTENT WITH THE PAYMENT TIMES PROCUREMENT CONNECTED POLICY. IF THIS SUBCONTRACT IS A REPORTING ENTITY SUBCONTRACT, THIS CLAUSE SHOULD BE PRESERVED, AND THE ADDITIONAL TEXT IN PARAGRAPH (A) SHOULD BE INCLUDED] The Payment Times Procurement Connected Policy [applies/does not apply] to this Subcontract. [IF THIS SUBCONTRACT IS NOT A PT PCP SUBCONTRACT, INCLUDE - Paragraphs (b) to (f) of this clause 20.1 of the Special Conditions will not apply when the Payment Times Procurement Connected Policy does not apply to this Subcontract.] Notwithstanding clause 11.5 12.5 of the Conditions of Subcontract (and the corresponding Subcontract Particular), the Contractor will pay the Subcontractor: subject to paragraph (c), within 20 days after the acknowledgement of the satisfactory delivery of the goods or services and receipt of a Correctly Rendered Invoice. If this period ends on a day that is not a business day, payment is due on the next business day; and subject paragraph (d), for payments made by the Contractor after the payment is due, the unpaid amounts plus interest on the unpaid amount calculated in accordance with paragraphs (d) and (e); Subparagraph (b)(i) does not limit any obligation to comply with applicable Statutory Requirements that provide a shorter payment period than the period specified in subparagraph (b)(i). The Contractor is not required to pay any interest in accordance with subparagraph (b)(ii) if either: the Commonwealth has failed to pay the Contractor in accordance with the timeframes and requirements under the Managing Contractor Contract; or the amount of interest payable is less than $100 (GST inclusive). Interest payable under subparagraph (b)(ii): will be simple interest calculated in respect of each day from the day after the amount was due and payable, up to and including the day that the Contractor effects payment; and will be paid at the Australian Taxation Office-sourced General Interest Charge Rate current at the due date for payment. The Subcontractor may make a complaint to the PT PCP Policy Team or to the Commonwealth in accordance with the Payment Times Procurement Connected Policy if there has been a non-compliance with the requirements of paragraph (b). Downstream Reporting Entity Subcontract [THIS CLAUSE IS TO BE USED IN CIRCUMSTANCES WHERE THE SUBCONTRACT IS A REPORTING ENTITY SUBCONTRACT (AS DEFINED IN THE MANAGING CONTRACTOR CONTRACT) AND THE CONTRACTOR SHOULD ADAPT IT AS REQUIRED TO COMPLY WITH THE REQUIREMENTS SET OUT IN THE MANAGING CONTRACTOR CONTRACT AND BE OTHERWISE CONSISTENT WITH THE PAYMENT TIMES PROCUREMENT CONNECTED POLICY] If the Subcontractor enters into a PT PCP Subcontract, it must include provisions equivalent to those in clause 20.1(a) to (f) of the Special Conditions and state that the Payment Times Procurement Connected Policy applies to that PT PCP Subcontract. If the Subcontractor enters into a Reporting Entity Subcontract, then that Reporting Entity Subcontract must include: provisions equivalent to those in clause 20.1(a) to (f) of the Special Conditions and state that the Payment Times Procurement Connected Policy applies to that Reporting Entity Subcontract; and obligations equivalent to this paragraph (b) (such that the obligations in this paragraph (b) are to continue to be flowed down the supply chain to all Reporting Entity Subcontractors).

Appears in 1 contract

Samples: Formal Agreement

USED IN CIRCUMSTANCES WHERE THE. SUBCONTRACT IS A PT PCP SUBCONTRACT (AS DEFINED IN THE MANAGING CONTRACTOR CONTRACT) AND THE CONTRACTOR SHOULD ADAPT IT AS REQUIRED TO COMPLY WITH THE REQUIREMENTS SET OUT IN THE MANAGING CONTRACTOR CONTRACT AND BE OTHERWISE CONSISTENT WITH THE PAYMENT TIMES PROCUREMENT CONNECTED POLICY. IF THIS SUBCONTRACT IS A REPORTING ENTITY SUBCONTRACT, THIS CLAUSE SHOULD BE PRESERVED, AND THE ADDITIONAL TEXT IN PARAGRAPH (A) SHOULD BE INCLUDED] The Payment Times Procurement Connected Policy [applies/does not apply] to this Subcontract. [IF THIS SUBCONTRACT IS NOT A PT PCP SUBCONTRACT, INCLUDE - Paragraphs (b) to (f) of this clause 20.1 11.1 of the Special Conditions will not apply when the Payment Times Procurement Connected Policy does not apply to this Subcontract.] Notwithstanding clause 11.5 of the Conditions of Subcontract (and the corresponding Subcontract Particular), the Contractor will pay the SubcontractorConsultant: subject to paragraph (c), within 20 days after the acknowledgement of the satisfactory delivery of the goods or services and receipt of a Correctly Rendered Invoice. If this period ends on a day that is not a business day, payment is due on the next business day; and subject paragraph (d), for payments made by the Contractor after the payment is due, the unpaid amounts plus interest on the unpaid amount calculated in accordance with paragraphs (d) and (e); Subparagraph (b)(i) does not limit any obligation to comply with applicable Statutory Requirements that provide a shorter payment period than the period specified in subparagraph (b)(i). The Contractor is not required to pay any interest in accordance with subparagraph (b)(ii) if either: the Commonwealth has failed to pay the Contractor in accordance with the timeframes and requirements under the Managing Contractor Contract; or the amount of interest payable is less than $100 (GST inclusive). Interest payable under subparagraph (b)(ii): will be simple interest calculated in respect of each day from the day after the amount was due and payable, up to and including the day that the Contractor effects payment; and will be paid at the Australian Taxation Office-sourced General Interest Charge Rate current at the due date for payment. The Subcontractor Consultant may make a complaint to the PT PCP Policy Team or to the Commonwealth in accordance with the Payment Times Procurement Connected Policy if there has been a non-compliance with the requirements of paragraph (b). Downstream Reporting Entity Subcontract [THIS CLAUSE IS TO BE USED IN CIRCUMSTANCES WHERE THE SUBCONTRACT IS A REPORTING ENTITY SUBCONTRACT (AS DEFINED IN THE MANAGING CONTRACTOR CONTRACT) AND THE CONTRACTOR SHOULD ADAPT IT AS REQUIRED TO COMPLY WITH THE REQUIREMENTS SET OUT IN THE MANAGING CONTRACTOR CONTRACT AND BE OTHERWISE CONSISTENT WITH THE PAYMENT TIMES PROCUREMENT CONNECTED POLICY] If the Subcontractor Consultant enters into a PT PCP Subcontract, it must include provisions equivalent to those in clause 20.1(a11.1(a) to (f) of the Special Conditions and state that the Payment Times Procurement Connected Policy applies to that PT PCP Subcontract. If the Subcontractor Consultant enters into a Reporting Entity Subcontract, then that Reporting Entity Subcontract must include: provisions equivalent to those in clause 20.1(a11.1(a) to (f) of the Special Conditions and state that the Payment Times Procurement Connected Policy applies to that Reporting Entity Subcontract; and obligations equivalent to this paragraph (b) (such that the obligations in this paragraph (b) are to continue to be flowed down the supply chain to all Reporting Entity Subcontractors).

Appears in 1 contract

Samples: defence.gov.au

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USED IN CIRCUMSTANCES WHERE THE. SUBCONTRACT IS A PT PCP SUBCONTRACT (AS DEFINED IN THE MANAGING CONTRACTOR CONTRACT) AND THE CONTRACTOR SHOULD ADAPT IT AS REQUIRED TO COMPLY WITH THE REQUIREMENTS SET OUT IN THE MANAGING CONTRACTOR CONTRACT AND BE OTHERWISE CONSISTENT WITH THE PAYMENT TIMES PROCUREMENT CONNECTED POLICY. IF THIS SUBCONTRACT IS A REPORTING ENTITY SUBCONTRACT, THIS CLAUSE SHOULD BE PRESERVED, AND THE ADDITIONAL TEXT IN PARAGRAPH (A) SHOULD BE INCLUDED] The Payment Times Procurement Connected Policy [applies/does not apply] to this Subcontract. [IF THIS SUBCONTRACT IS NOT A PT PCP SUBCONTRACT, INCLUDE - Paragraphs (b) to (f) of this clause 20.1 11.1 of the Special Conditions will not apply when the Payment Times Procurement Connected Policy does not apply to this Subcontract.] Notwithstanding clause 11.5 of the Conditions of Subcontract (and the corresponding Subcontract Particular), the Contractor will pay the SubcontractorConsultant: subject to paragraph (c), within 20 days after the acknowledgement of the satisfactory delivery of the goods or services and receipt of a Correctly Rendered Invoice. If this period ends on a day that is not a business day, payment is due on the next business day; and subject paragraph (d), for payments made by the Contractor after the payment is due, the unpaid amounts plus interest on the unpaid amount calculated in accordance with paragraphs (d) and (e); Subparagraph Paragraph (b)(i) does not limit any obligation to comply with applicable Statutory Requirements that provide a shorter payment period than the period specified in subparagraph paragraph (b)(i). The Contractor is not required to pay any interest in accordance with subparagraph paragraph (b)(ii) if either: the Commonwealth has failed to pay the Contractor in accordance with the timeframes and requirements under the Managing Contractor Contract; or the amount of interest payable is less than $100 (GST inclusive). Interest payable under subparagraph paragraph (b)(ii): will be simple interest calculated in respect of each day from the day after the amount was due and payable, up to and including the day that the Contractor effects payment; and will be paid at the Australian Taxation Office-sourced General Interest Charge Rate current at the due date for payment. The Subcontractor Consultant may make a complaint to the PT PCP Policy Team or to the Commonwealth in accordance with the Payment Times Procurement Connected Policy if there has been a non-compliance with the requirements of paragraph (b). Downstream Reporting Entity Subcontract [THIS CLAUSE IS TO BE USED IN CIRCUMSTANCES WHERE THE SUBCONTRACT IS A REPORTING ENTITY SUBCONTRACT (AS DEFINED IN THE MANAGING CONTRACTOR CONTRACT) AND THE CONTRACTOR SHOULD ADAPT IT AS REQUIRED TO COMPLY WITH THE REQUIREMENTS SET OUT IN THE MANAGING CONTRACTOR CONTRACT AND BE OTHERWISE CONSISTENT WITH THE PAYMENT TIMES PROCUREMENT CONNECTED POLICY] If the Subcontractor enters into a PT PCP Subcontract, it must include provisions equivalent to those in clause 20.1(a) to (f) of the Special Conditions and state that the Payment Times Procurement Connected Policy applies to that PT PCP Subcontract. If the Subcontractor enters into a Reporting Entity Subcontract, then that Reporting Entity Subcontract must include: provisions equivalent to those in clause 20.1(a) to (f) of the Special Conditions and state that the Payment Times Procurement Connected Policy applies to that Reporting Entity Subcontract; and obligations equivalent to this paragraph (b) (such that the obligations in this paragraph (b) are to continue to be flowed down the supply chain to all Reporting Entity Subcontractors).

Appears in 1 contract

Samples: defence.gov.au

USED IN CIRCUMSTANCES WHERE THE. SUBCONTRACT IS A PT PCP SUBCONTRACT (AS DEFINED IN THE MANAGING CONTRACTOR CONTRACT) AND THE CONTRACTOR SHOULD ADAPT IT AS REQUIRED TO COMPLY WITH THE REQUIREMENTS SET OUT IN THE MANAGING CONTRACTOR CONTRACT AND BE OTHERWISE CONSISTENT WITH THE PAYMENT TIMES PROCUREMENT CONNECTED POLICY. IF THIS SUBCONTRACT IS A REPORTING ENTITY SUBCONTRACT, THIS CLAUSE SHOULD BE PRESERVED, AND THE ADDITIONAL TEXT IN PARAGRAPH (A) SHOULD BE INCLUDED] The Payment Times Procurement Connected Policy [applies/does not apply] to this Subcontract. [IF THIS SUBCONTRACT IS NOT A PT PCP SUBCONTRACT, INCLUDE - Paragraphs (b) to (f) of this clause 20.1 of the Special Conditions will not apply when the Payment Times Procurement Connected Policy does not apply to this Subcontract.] Notwithstanding clause 11.5 of the Conditions of Subcontract (and the corresponding Subcontract Particular), the Contractor will pay the Subcontractor: subject to paragraph (c), within 20 days after the acknowledgement of the satisfactory delivery of the goods or services and receipt of a Correctly Rendered Invoice. If this period ends on a day that is not a business day, payment is due on the next business day; and subject paragraph (d), for payments made by the Contractor after the payment is due, the unpaid amounts plus interest on the unpaid amount calculated in accordance with paragraphs (d) and (e); Subparagraph Paragraph (b)(i) does not limit any obligation to comply with applicable Statutory Requirements that provide a shorter payment period than the period specified in subparagraph paragraph (b)(i). The Contractor is not required to pay any interest in accordance with subparagraph paragraph (b)(ii) if either: the Commonwealth has failed to pay the Contractor in accordance with the timeframes and requirements under the Managing Contractor Contract; or the amount of interest payable is less than $100 (GST inclusive). Interest payable under subparagraph paragraph (b)(ii): will be simple interest calculated in respect of each day from the day after the amount was due and payable, up to and including the day that the Contractor effects payment; and will be paid at the Australian Taxation Office-sourced General Interest Charge Rate current at the due date for payment. The Subcontractor may make a complaint to the PT PCP Policy Team or to the Commonwealth in accordance with the Payment Times Procurement Connected Policy if there has been a non-compliance with the requirements of paragraph (b). Downstream Reporting Entity Subcontract [THIS CLAUSE IS TO BE USED IN CIRCUMSTANCES WHERE THE SUBCONTRACT IS A REPORTING ENTITY SUBCONTRACT (AS DEFINED IN THE MANAGING CONTRACTOR CONTRACT) AND THE CONTRACTOR SHOULD ADAPT IT AS REQUIRED TO COMPLY WITH THE REQUIREMENTS SET OUT IN THE MANAGING CONTRACTOR CONTRACT AND BE OTHERWISE CONSISTENT WITH THE PAYMENT TIMES PROCUREMENT CONNECTED POLICY] If the Subcontractor enters into a PT PCP Subcontract, it must include provisions equivalent to those in clause 20.1(a) to (f) of the Special Conditions and state that the Payment Times Procurement Connected Policy applies to that PT PCP Subcontract. If the Subcontractor enters into a Reporting Entity Subcontract, then that Reporting Entity Subcontract must include: provisions equivalent to those in clause 20.1(a) to (f) of the Special Conditions and state that the Payment Times Procurement Connected Policy applies to that Reporting Entity Subcontract; and obligations equivalent to this paragraph (b) (such that the obligations in this paragraph (b) are to continue to be flowed down the supply chain to all Reporting Entity Subcontractors).

Appears in 1 contract

Samples: Formal Agreement

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