Advance Payment Amounts Sample Clauses

Advance Payment Amounts. Owner shall issue to Contractor a forecast for the monthly Work anticipated for the next monthly period during the term of the project no later than 10 days before the start of the next monthly period ("Monthly Forecast"). This forecast will be based on Owner's mine plan. Contractor will review and establish the estimated compensation for the Work in the Monthly Forecast, by 12:00 p.m. Pacific Time on the last day of the previous month and will deliver an invoice for the estimated compensation for the Work described in the Monthly Forecast ("Advance Invoice"). The Owner shall approve or reject the Advance Invoice within three (3) days of receipt. If the Advance Invoice amount has been approved by both parties, Owner will advance the funds in accordance with the Advance Invoice amount based upon the timing agreed in 5.2.l(b). (a) The Advance Invoice amount will be supported by documentation to identify estimated quantities and associated Unit Prices. (b) Advance Invoices may be paid in bi-weekly installments on 1st of the month and 15th of the month. or as otherwise mutually agreed upon by the Parties. If these days fall on the weekend, the payment can be postponed to the following business day.