Common use of Applications for Payment for the Work Clause in Contracts

Applications for Payment for the Work. Applications for payment shall be submitted in detail sufficient for an audit thereof. Within twenty (20) days of receipt of the Design/Builder’s application for payment, properly prepared pursuant to Owner’s Policy, the Owner shall pay the Design/Builder the amount approved by Owner, less retainage, unless there is a dispute about the amount of compensation due to the Design/Builder.

Applications for Payment for the Work. Applications for payment shall be submitted in detail sufficient for an audit thereof. Within twenty thirty (2030) days of receipt of the Design/Builder’s application for payment, properly prepared pursuant to Owner’s Policy, the Owner shall pay the Design/Builder the amount approved by Owner, less retainage, unless there is a dispute about the amount of compensation due to the Design/Builder.