Common use of APPLICATIONS FOR PROGRESS PAYMENT Clause in Contracts

APPLICATIONS FOR PROGRESS PAYMENT. XXXX Contractor shall deliver to Project Engineer (or such other person as is designated by CPRA) on the last of each month an application of progress payment in Appendix 508B – Cost of the Work – Schedule of Values in the format specified by CPRA. 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: An updated CPM Schedule and narrative schedule update report as provided for herein, and Conditional lien waivers from each subcontractor entitled to progress payment thereunder; and Form SAF In addition, the XXXX Contractor shall provide the following documentation upon specific request by CPRA: A written accounting in a form agreed by XXXX Contractor and CPRA of the Actual Cost of the Work completed, including copies of all receipts, invoices with check vouchers or other evidence of payment, payrolls, and any and all other evidence which CPRA or its designated representatives shall deem necessary to support the amount requested. This information is subject to audit and payment for these costs is dependent on CPRA’s receipt of accurate and complete records of all transactions; and A report by XXXX Contractor on subcontractor buy-out status, contract sums, and subcontractor pay applications, and A copy of job cost ledger; and A copy of timecards for all employees charged to the Project; and A copy of Construction General Condition’s invoices and purchase orders, each for the time periods periodically requested by CPRA. Copies of receipts and/or invoices shall be provided. The Construction margin identified in Part 1 of the Contract, shall be shown as a separate column identifying the percent on each line item on the Schedule of Contract Values for the Project. Payment of the XXXX Contractor’s margin percentage (Overhead and Profit) shall be calculated based on approved invoiced quantities for pay items in the schedule of values. Payments by CPRA to the XXXX Contractor shall be made as described in applicable provisions governing testing, inspection and acceptance in the special provisions or documented elsewhere in the Contact Documents. Payments for subcontractor work shall not exceed the percentage of Work allocated to that subcontractor for any particular work classification and shall not exceed the total value of the subcontract amount. XXXX Contractor's acceptance of final payment under this Contract, shall constitute a full and complete release of CPRA from any and all claims, demands, and causes of action whatsoever that XXXX Contractor, its subcontractors, suppliers and consultants or any of their successors or assigns have or may have against CPRA arising from the Project or any provision(s) of this Contract except for those previously made in writing and identified by XXXX as unsettled at the time of the request for final payment.

APPLICATIONS FOR PROGRESS PAYMENT. XXXX Contractor 7.3.1 CM@Risk shall deliver to Project Engineer Design Professional (or such other person as is designated by CPRAOwner) on the last Day of each month an a sworn application of for progress payment in Appendix 508B the “Exhibit C – Cost of the Work – Schedule of Values in Values” to the Agreement format as specified by CPRAOwner. 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: An by (a) an updated CPM Schedule and narrative schedule update report as provided for herein, and Conditional (b) conditional lien waivers from each subcontractor Subcontractor or supplier entitled to progress payment thereunder; and Form SAF . In addition, the XXXX Contractor CM@Risk shall provide the following documentation upon specific request by CPRAOwner: A a) a written accounting in a form agreed by XXXX Contractor CM@Risk and CPRA Owner of the Actual Cost of the Work completed, including copies of all receipts, invoices with check vouchers or other evidence of payment, payrolls, and any and all other evidence which CPRA or its designated representatives shall deem necessary to support the amount requested. This information is subject to audit and payment for these costs is dependent on CPRA’s receipt of accurate and complete records of all transactions; and A b) a report by XXXX Contractor CM@Risk on subcontractor Subcontractor buy-out status, contract sums, and subcontractor Subcontractor pay applications, and A c) a copy of job cost ledger; and A , d) a copy of timecards for all employees charged to the Project; Project and A e) a copy of Construction General Condition’s Conditions invoices and purchase orders, each for the time periods periodically requested by CPRAOwner. Copies of receipts and/or invoices All meal expenses included in Construction General Conditions shall be provided. The Construction margin identified in Part 1 supported by a copy of the Contract, shall be shown as credit card receipt (if applicable) and a separate column identifying the percent on each line item on the Schedule of Contract Values for the Project. Payment detailed copy of the XXXX Contractor’s margin percentage (Overhead bill, with a written list of attendees and Profit) shall be calculated based on approved invoiced quantities for pay items in the schedule of values. Payments by CPRA to the XXXX Contractor shall be made as described in applicable provisions governing testing, inspection and acceptance in the special provisions or documented elsewhere in the Contact Documents. Payments for subcontractor work shall not exceed the percentage of Work allocated to that subcontractor for any particular work classification and shall not exceed the total value business purpose of the subcontract amount. XXXX Contractor's acceptance of final payment under this Contract, shall constitute a full and complete release of CPRA from any and all claims, demands, and causes of action whatsoever that XXXX Contractor, its subcontractors, suppliers and consultants or any of their successors or assigns have or may have against CPRA arising from the Project or any provision(s) of this Contract except for those previously made in writing and identified by XXXX as unsettled at the time of the request for final paymentmeeting/meal included.