Common use of Payment Applications Clause in Contracts

Payment Applications. The Architect will review and make recommendations to the Owner regarding the amounts due the Contractor on the Certificates for Payment pursuant to Article 9.3.4and subject to the Inspector’s review, (CM review, if applicable) and Architect’s observation. This review of Payment Applications is sometimes called a “Pencil Draft.” Return of a Pencil Draft shall constitute the Owner's dispute of the Pay Application that has been submitted. Contractor shall promptly respond to Pencil Drafts or Contractor's Pay Applications may be delayed. Contractor's failure to promptly respond to a Pencil Draft shall qualify as a delay in the Prompt Payment of a Request for Payment or Request for Retention.

Appears in 3 contracts

Samples: Agreement Form, Escrow Agreement, Escrow Agreement

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Payment Applications. The Architect will review and make recommendations to the Owner regarding the amounts due the Contractor on the Certificates for Payment pursuant to Article 9.3.4and 9.3.4 and subject to the Inspector’s review, (CM review, if applicable) and Architect’s observation. This review of Payment Applications is sometimes called a “Pencil Draft.” Return of a Pencil Draft shall constitute the Owner's dispute of the Pay Application that has been submitted. Contractor shall promptly respond to Pencil Drafts or Contractor's Pay Applications may be delayed. Contractor's failure to promptly respond to a Pencil Draft shall qualify as a delay in the Prompt Payment of a Request for Payment or Request for Retention.

Appears in 1 contract

Samples: Agreement

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