APPLICATIONS FOR PROGRESS PAYMENT. The Subcontractor shall submit to the Contractor applications for payment, on the form required by the Owner/Contractor Contract or, if no form is specified, then on AIA Document G702/703 or such other form as the Contractor directs. The applications for payment shall be submitted on the dates or at the intervals specified by the Contractor. Each Application for Payment shall describe the Work performed during the preceding payment period for which payment is requested, as specified in the form, and include such documentation as the Contractor may reasonably require. Among other things, but without limitation, the Subcontractor may be required to provide releases of liens and invoices to verify costs incurred and claimed and certified payrolls. With each application for payment, the Subcontractor must also submit a waiver of mechanic's liens in the form attached as Schedule G, constituting a conditional waiver of liens with respect to all Work for which payment is rightfully due. Incorrect or incomplete Applications and documentation will be rejected. Unless indicated otherwise by the Contractor, if the value of this Subcontract is or becomes $100,000 or more, then Second Tier Releases in the form specified in Schedule J, or such other form specified by the Contractor, are required. After the Subcontractor has received payment for the first Application for Payment, Second Tier Releases are required from all subsubcontractors and suppliers listed on Schedule I before payment will be made for each succeeding Application for Payment. The Second Tier Release confirms payment of the Subcontractor's subsubcontractors and suppliers for the period for which the Subcontractor has been paid and must be received before the Subcontractor's payment for the next payment period can be released.
APPLICATIONS FOR PROGRESS PAYMENT. Applications for payment on account as provided in paragraph 7.1.1 of Article A-7 of the Agreement – PAYMENT may be made monthly as the Work progresses.
APPLICATIONS FOR PROGRESS PAYMENT. 7.3.1 CM@Risk shall deliver to Design Professional (or such other person as is designated by Owner) on the last Day of each month a sworn application for progress payment in the format specified by Owner in “Exhibit C – Cost of the Work – Schedule of Values” to the Agreement. . A copy of the pay application shall be concurrently provided to Owner. Each such application for payment shall be based on the Schedule of Values and be in an amount determined by the percentage of completion of the Work in the month being billed. It shall show the percentage of completion of each category of the Work performed in the billing period. The payment application shall be accompanied (as separate documents) by (a) an updated CPM Schedule and narrative schedule update report as provided for herein, and (b) conditional lien waivers from each Subcontractor or supplier entitled to progress payment thereunder. In addition, the CM@Risk shall provide the following documentation upon specific request by Owner: a) a written accounting in a form agreed to by CM@Risk and Owner of the Cost of Work completed, b) a report by CM@Risk on Subcontractor buy-out status, contract sums, and Subcontractor pay applications, c) a copy of job cost ledger, d) a copy of timecards for all employees charged to the Project and e) a copy of Construction General Conditions invoices and purchase orders, each for the time periods periodically requested by Owner. All meal expenses included in Construction General Conditions shall be supported by a copy of the credit card receipt (if applicable) and a detailed copy of the bill, with a written list of attendees and business purpose of the meeting/meal included.
7.3.2 The CM@Risk Construction Phase Fee shall be paid monthly in accordance with the percentage of completion of the Work. The Construction General Conditions shall be paid monthly based on actual cost. The amount approved and paid for progress achieved in the month billed for shall not constitute final acceptance of the Work and is subject to final adjustment at the time of final acceptance and Final Payment so as to fully comply with, and not exceed, the GMP.
7.3.3 The Design Professional, within seven (7) days after receipt of CM@Risk application for progress payment, and no later, will either issue to Owner (a) a certificate of approval for payment of such amount as is invoiced in the payment application, or (b) specific written findings setting forth those items in detail in the estimate of the ...
APPLICATIONS FOR PROGRESS PAYMENT. 21. Subsection 5.2.3 is amended by:
APPLICATIONS FOR PROGRESS PAYMENT. Add GC 5.2.8, as follows:
APPLICATIONS FOR PROGRESS PAYMENT. 5.2.1 Applications for payment on account as provided in Article A-5 of the Agreement - PAYMENT may be made monthly as the
5.2.2 Applications for payment shall be dated the last day of each payment period, which is the last day of the month or an alternative day of the month agreed in writing by the parties.
5.2.3 As of the last day of the payment period, the amount claimed shall be:
1. the value of Unit Price work performed, being the sum of the products of each Unit Price stated in the Schedule of Prices multiplied by the appropriate actual quantity of each Unit Price item that is incorporated in or made necessary by the Work; plus
2. the value of lump sum work performed, proportionate to the amount of the lump sum item, plus
3. the value of Products delivered to the Place of the Work .
5.2.4 The Contractor shall submit to the Consultant, at least 15 calendar days before the first application for payment, a schedule of values for the lump sum items of work, aggregating the total amount of each lump sum item, so as to facilitate evaluation of applications for payment.
5.2.5 The schedule of values for lump sum items of work shall be made out in such form and supported by such evidence as the Consultant may reasonably direct and when accepted by the Consultant, shall be used as the basis for applications for payment for lump sum items, unless it is found to be in error.
5.2.6 The Contractor shall include with each application for payment:
1. a statement based on the schedule of values for the lump sum items of work; and
2. quantity measurements and other evidence as requested by the Consultant for each Unit Price item.
5.2.7 Applications for payment for Products delivered to the Place of the Work but not yet incorporated into the Work shall be supported by such evidence as the Consultant may reasonably require to establish the value and delivery of the Products.
APPLICATIONS FOR PROGRESS PAYMENT. 6.3.1 Design-Builder shall deliver to the Owner on the last business Day of each month a sworn application for progress payment, in a format identical to the Schedule of Values approved under Article 6.2.1 above. Each such application for payment shall be based on the Schedule of Values and be in an amount determined by the percentage of completion of the Work in the month being billed. It shall show the percentage of completion of each category of the Work performed in the billing period. The payment application shall be accompanied (as separate documents) by (a) an updated CPM Schedule and narrative schedule update report as provided for herein, (b) conditional lien waivers from each Subcontractor or supplier entitled to progress payment thereunder, and (c) confirmation of updated as-built documents. In addition, the
6.3.2 The Design-Builder Construction Phase Fee shall be paid monthly in accordance with the percentage of completion of the Work. The Construction General Conditions shall be paid monthly based on percentage of work complete. The amount approved and paid for progress achieved in the month billed for shall not constitute final acceptance of the Work and is subject to final adjustment at the time of final acceptance and Final Payment so as to fully comply with, and not exceed, the GMP.
6.3.3 The Owner, within seven (7) days after receipt of the Design-Builder’s application for progress payment, and no later, will either a) advise the Design-Builder that the application is approved or b) issue specific written findings setting forth those items in detail in the estimate of the Work in the pay application that are not approved for payment under the contract. Any items that are not specifically identified by the Owner as not approved, with written detailed findings, shall be deemed approved.
6.3.4 As to any items not approved for payment, the Owner may withhold an amount from the progress payment to be made for the time period billed for a sufficient sum to pay the expenses Owner reasonably expects to incur in correcting the deficiency set forth in the written finding issued by the Owner.
APPLICATIONS FOR PROGRESS PAYMENT. Change paragraph 5.2.2, first line “dated the last day” to read “dated as of the last day” Add to the end of paragraph 5.2.3 the following: “less the aggregate of previous payments and holdback percentages” Change paragraph 5.2.7 to read:
APPLICATIONS FOR PROGRESS PAYMENT. GC5.2 is deleted in its entirety and replaced with the following:
APPLICATIONS FOR PROGRESS PAYMENT. 1 Add to the end of paragraph 5.2.7 the following new sentence: Any Products delivered to the Place of the Work but not yet incorporated into the Work shall remain at the risk of the Contractor notwithstanding that title has passed to the Owner pursuant to General Condition 13.1 - OWNERSHIP OF MATERIALS.
