Prompt Payment Requirements. (1) For the purposes of Article XI-A of the State Finance Law, the Controller's Office of the State University Construction Fund, whose mailing address is The Xxxxx Xxxxxxxxxx Xxxxx, 000 Xxxxxxxx, Xxxxxx, Xxx Xxxx 00000, is the Fund's designated payment office. Applications for payment must contain the approval of the Consultant before being submitted to the Fund.
Prompt Payment Requirements. The Contractor shall make prompt and full payment to the subcontractor(s) of any retainage held by the prime Contractor after the subcontractor’s work is satisfactorily completed. For purposes of this Special Provision, a subcontractor’s work is satisfactorily completed when all the tasks called for in the subcontract have been accomplished, documented, and accepted as required by the contract documents by VDOT. When VDOT has made partial acceptance of a portion of the prime contract, the Department will consider the work of any subcontractor covered by that partial acceptance to be satisfactorily completed. Payment will be made in accordance with the requirements of Section 107.01, Section 109.08, and Section 109.09 of the Specifications. Upon VDOT’s payment of the subcontractor’s portion of the work as shown on the monthly progress estimate and the receipt of payment by the Contractor for such work, the Contractor shall make compensation in full to the subcontractor for that portion of the work satisfactorily completed and accepted by the Department. For the purposes of this Special Provision, payment of the subcontractor’s portion of the work shall mean the Contractor has issued payment in full, less agreed upon retainage, if any, to the subcontractor for that portion of the subcontractor’s work that VDOT paid to the Contractor on the monthly progress estimate. The Contractor shall make payment of the subcontractor’s portion of the work within seven (7) days of the receipt of payment from VDOT in accordance with the requirements of Section 107.01, Section 109.08, and Section 109.09 of the Specifications. If the Contractor fails to make payment for the subcontractor’s portion of the work within the time frame specified herein, the subcontractor shall contact the Responsible Engineer and the Contractor’s bonding company in writing. The bonding company and VDOT will investigate the cause for non-payment and, barring mitigating circumstances that would make the subcontractor ineligible for payment, ensure payment in accordance with the requirements of Section 107.01, Section 109.08, and Section 109.09 of the Specifications. By bidding on this contract, and by accepting and executing this contract, the Contractor agrees to assume these contractual obligations, and to bind the Contractor’s subcontractors contractually to those prompt payment requirements. Nothing contained herein shall preclude the Contractor from withholding payment to the subcontractor in a...
Prompt Payment Requirements. 30.1. If a Contractor withholds payment of an undisputed amount to its subcontractor, the Department, at its option and in its sole discretion, may take one or more of the following actions:
Prompt Payment Requirements. § 12.6.1 Within seven days after the Architect receives amounts paid for work subject to this Agreement performed by any "subcontractor", as defined in Va. Code § 2.2-4347, the Architect shall take one of the two following actions:
Prompt Payment Requirements. City adheres to the prompt payment provisions of A.R.S. § 34-221.
Prompt Payment Requirements. Authority has adopted a DBE Program in compliance with 49 CFR Part 26, and the following requirement will apply to all contracts funded, either wholly or in-part, with DOT financial assistance: Provider agrees to pay each subconsultant under this contract for satisfactory performance of its contract no later than fifteen (15) days from the receipt of each payment Provider receives from Authority. Provider agrees further to return any retainage payments to each subconsultant within thirty (30) days after the subconsultant’s work is satisfactorily completed. Any delay or postponement of payment beyond these time limits may occur only for good cause following written approval of the delay by Authority. This clause applies to both DBE and non-DBE subconsultants.
Prompt Payment Requirements. Timeliness of payment and any interest to be paid to the Contractor for late payment shall be governed by Article XI-A of the State Finance Law to the extent required by law. For the purposes of Article XI-A of the State Finance Law, the Controller’s Office of the State University Construction University, whose mailing address is The Xxxxx Xxxxxxxxxx Xxxxx, Xxxx Xxxxxx Xxx 0000, Xxxxxx, Xxx Xxxx 00000-0000, is the University’s designated payment office.
Prompt Payment Requirements. (1) For the purposes of Article XI‑A of the State Finance Law, the campus for which the work is being performed is the University's designated payment office. Applications for payment must contain the approval of the Consultant before being submitted to the University.
Prompt Payment Requirements
