Payment Upon Final Completion Sample Clauses

Payment Upon Final Completion. The final payment requirements of this Section
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Payment Upon Final Completion. 2.5.1 Full payment of the Contract Sum, including all Retainage previously withheld (the “Final Payment”), shall be due and payable within sixty (60) days after (i) Final Completion has been achieved and the Contract has otherwise been fully performed by Contractor except for Contractor’s responsibility to correct defective or nonconforming Work not yet discovered as provided in Article 11, and to satisfy other requirements, if any, which necessarily survive Final Payment; (ii) Contractor has submitted to Owner and Architect Contractor’s Application for Final Payment; (iii) if required by the Agreement, a final accounting for the Cost of Work has been submitted by Contractor and reviewed by Owner and its consultants; (iv) any adjustments in the Final Payment required by such an accounting have been made; (v) Contractor has given Owner written notice that all of the documents and materials required by this Section 2.5.1 have all been delivered; and
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Payment Upon Final Completion. Upon achievement of Final Completion, Contractor shall, in addition to any other requirements in this Agreement for achieving Final Completion, submit a final invoice in the form of Exhibit 6.1.2(A), together with (i) a fully executed final lien and claim waiver from Contractor substantially in the form of Exhibit 6.1.4(A) and fully executed final lien and claim waivers from each Subcontractor substantially in the form of Exhibit 6.1.4(B), and (ii) a statement summarizing and reconciling all previous invoices, payments and Change Orders. No later than five business days after receipt by Owner of such final invoice and all requested documentation and achieving Final Completion, Owner shall, pay Contractor the balance of the Contract Amount, including any remaining Retainage.
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Payment Upon Final Completion 
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Related to Payment Upon Final Completion

  • Final Completion The full and final completion of all Work in accordance with the Contract Documents.

  • Payment Upon Termination In the event that the City or Consultant terminates this Agreement pursuant to Section 8, the City shall compensate the Consultant for all outstanding costs and reimbursable expenses incurred for work satisfactorily completed as of the date of written notice of termination. Consultant shall maintain adequate logs and timesheets in order to verify costs incurred to that date. The City shall have no obligation to compensate Consultant for work not verified by logs or timesheets.

  • Substantial Completion “Substantial Completion” means the stage in the progress of the Work when the Work, or designated portions thereof, may still require minor modifications or adjustments but, in the Owner’s opinion, the Work has progressed to the point such that all parts of the Work under consideration are fully operational and usable for intended purposes, as evidenced by a Certificate of Substantial Completion approved by the Owner. If a Certificate of Occupancy is required by public authorities having jurisdiction over the Work, said certificate shall be issued before the Work or any portion thereof is considered substantially complete. When the Contractor considers that the Work, or a portion thereof which the Owner agrees to accept separately, is substantially complete, the Contractor shall notify Owner’s Designated Representative (sometimes referred to as the “ODR”) and request a determination as to whether the Work or designated portion thereof is substantially complete. If the ODR does not consider the Work substantially complete, the ODR will notify the Contractor giving reasons therefore. Failure on the Owner’s part to list a reason does not alter the responsibility of the Contractor to complete all Work in accordance with the terms of this Agreement. After satisfactorily completing items identified by Owner’s Designated Representative, the Contractor shall then submit another request for the ODR to determine Substantial Completion. If The ODR considers the Work substantially complete, The ODR will prepare and deliver a certificate of Substantial Completion which shall establish the date of Substantial Completion, shall include a punch list of items to be completed or corrected before final completion and final payment, shall establish the time within which the Contractor shall finish the punch list, and shall establish responsibilities of the Owner and the Contractor for security, maintenance, heat, utilities, damage to the Work, warranty and insurance. Failure to include an item on the punch list does not alter the responsibility of the Contractor to complete all Work in accordance with the terms and conditions of this Agreement. The certificate of Substantial Completion shall be signed by the Owner and the Contractor to evidence acceptance of the responsibilities assigned to them in such certificate. Substantial Completion (as defined in this agreement) for all stages of the Work shall be achieved on or before the following Substantial Completion date: DATE FOR SUBSTANTIAL COMPLETION: TBD Under no circumstances will the time for Substantial Completion exceed this date without a written amendment to this Agreement. THE TIMES SET FORTH IN THE CONSTRUCTION DOCUMENTS ARE AN ESSENTIAL ELEMENT OF THE AGREEMENT. TIME LIMITS STATED IN THE CONTRACT DOCUMENTS ARE OF THE ESSENCE OF THIS AGREEMENT.

  • Payment Schedule Except as provided in section 6.10 Travel, Meals and Lodging, payments will only be made based on Deliverables outlined within the Authorized User Agreement. Any invoice not related directly to a completed deliverable will be rejected. Any charge included on the invoice without backup documentation as specified in the Authorized User Agreement (travel receipts, etc.) may be removed. Any outstanding charges un-invoiced or removed from the invoice must be submitted/resubmitted within 120 Calendar days or may not be reimbursed. Each Deliverable may contain a retainage allotment as specified within the Authorized User Agreement. Each invoice is to include a detailed and itemized list of all retainage withholds that are in place since the activation of the Authorized User Agreement. Payment schedule shall be based on the final Authorized User Agreement as negotiated by the Authorized User and Contractor. Payment is only to be made after the deliverable within the Authorized User Agreement is accepted by the Authorized User. A Contractor is encouraged to submit no more than one invoice per month. Invoices must include cumulative retainage holdback. Invoices submitted to an Authorized User must include backup documentation as defined in the negotiated Authorized User Agreement.

  • Project Completion Part 1 – Material Completion

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