Common use of Prompt Payment Clause Clause in Contracts

Prompt Payment Clause. Payment will be made in accordance with, and within the time specified in, Government Code Chapter 4.5, commencing with section 927. 5. PRINCIPLES AND STANDARDS FOR DETERMINING ALLOWABLE COSTS, INCLUDING REQUIREMENTS FOR DOCUMENTING PERSONNEL ACTIVITY CHARGEABLE TO THE AGREEMENT Agreements awarded by the Department shall be subject to actual costs for services rendered under this Agreement. Allowable costs under this Agreement must meet the following general criteria: • Be generally recognized and necessary for the operation of the Contractor's organization. • Be reasonable for the performance of the Agreement, including acceptable sound business practices. • Be subject to the terms and conditions of the Agreement and approved DOR budgeted line items. • Not be used for general expenses required to carry out other responsibilities of the Contractor. • Be properly documented and supported. Documenting and supporting the distribution of all costs, including the allocation of time chargeable to the Agreement, is required. The Contractor agrees to comply with the 2 CFR 200 cost principles regarding documentation for the support of personnel activity chargeable to the Agreement.

Prompt Payment Clause. Payment will be made in accordance with, and within the time specified in, Government Code Chapter 4.5, commencing with section 927. 5. PRINCIPLES AND STANDARDS FOR DETERMINING ALLOWABLE COSTS, INCLUDING REQUIREMENTS FOR DOCUMENTING PERSONNEL ACTIVITY CHARGEABLE TO THE AGREEMENT Agreements awarded by the Department DOR shall be subject to actual costs for services rendered under this Agreement. Allowable costs under this Agreement must meet the following general criteria: • Be generally recognized and necessary for the operation provision of the Contractor's organizationservices identified in this Agreement. • Be reasonable for the performance of the Agreement, including acceptable sound business practices. • Be subject to the terms and conditions of the Agreement and approved DOR budgeted line items. • Not be used for general expenses required to carry out other responsibilities of the ContractorProgram. • Be properly documented and supported. • Be allocable to the services provided under the cooperative arrangement so that costs charged to the agreement are proportional to the benefits received by DOR. Documenting and supporting the distribution of all costs, including the allocation of time chargeable to the Agreement, is required. The Contractor Program agrees to comply with the 2 CFR part 200 Federal cost principles regarding documentation for the support of personnel activity chargeable to the Agreement.

Prompt Payment Clause. Payment will be made in accordance with, and within the time specified in, Government Code Chapter 4.5, commencing with section 927. 5. PRINCIPLES AND STANDARDS FOR DETERMINING ALLOWABLE COSTS, INCLUDING REQUIREMENTS FOR DOCUMENTING PERSONNEL ACTIVITY CHARGEABLE TO THE AGREEMENT Agreements awarded by the Department DOR shall be subject to actual costs for services rendered under this Agreement. Allowable costs under this Agreement must meet the following general criteria: • Be generally recognized and necessary for the operation of the ContractorProgram's organization. • Be reasonable for the performance of the Agreement, including acceptable sound business practices. • Be subject to the terms and conditions of the Agreement and approved DOR budgeted line items. • Not be used for general expenses required to carry out other responsibilities of the ContractorProgram. • Be properly documented and supported. • Be allocated in accordance with the proportional benefit provided. Documenting and supporting the distribution of all costs, including the allocation of time chargeable to the Agreement, is required. The Contractor Program agrees to comply with the 2 CFR 200 cost principles regarding documentation for the support of personnel activity chargeable to the Agreement.