Additional Considerations and Service Level Agreements Sample Clauses

Additional Considerations and Service Level Agreements. 1. Initial training will be provided by NJHMFA. Vendor should make sure to have their training staff learn the program to be able to train their team. Retraining or training of replacement staff will be completed by Vendor or result in a $200 per hour of training expense to be deducted from their next monthly invoice. 2. NJHMFA will do quality control on 10% of files. After the initial 60 days, Vendor performance must meet guidelines on over 95% of reviewed files, or trigger escalating remediation. a) First failure requires re-training, in accordance with the above structure. b) Subsequent monthly failures to achieve required quality level as described above will reduce vendor’s monthly billable program fees – second month failure results in 10% fee reduction, third month failure results in 15% fee reduction, fourth month failure is 20% reduction, all additional month failures go to 25% reduced monthly fees . If the vendor hits the minimum quality standard for a month, it restarts the schedule. c) Escalating fee reduction as described above impacts payment for the service the quality review was completed on. Underwriting and processing review are each subject to separate quality control review. 3. Vendor failures that result in NJ Government, US Treasury or US Special Investigator General (SIG) Audit findings will result in remediation efforts done at no cost to NJHMFA. If audit findings result in financial expense to NJHMFA, vendor will share in 50% of the costs, to be deducted from future monthly invoice or billed separately, as appropriate.