Common use of Approval of Final Payment Clause in Contracts

Approval of Final Payment. 14.10.1 If, on the basis of their observation and review of the Work during construction, their final inspection, and review of the Application for Final Payment, and as required by the Contract Documents, CEI or A/E and County are satisfied that the Work has been completed and Contractor has fulfilled all of its obligations under the Contract Documents, CEI or A/E will, within twenty (20) days after receipt of the Application for Final Payment, indicate recommendation for payment and present the Application for Final Payment to County for payment. Thereupon, CEI or A/E will give written notice to County and Contractor that the Work is acceptable subject to the provision of Section 14.11. Otherwise, it will return the application to Contractor, indicating in writing its reasons for refusing to approve Final Payment, in which case Contractor shall make the necessary corrections and resubmit the application. County shall, within ten (10) days of presentation to it of an approved Application for Final Payment, make arrangements to promptly pay Contractor the amount recommended by CEI or A/E. 14.10.2 If, after Substantial Completion of the Work, Final Completion thereof is materially delayed through no fault of Contractor, and CEI or A/E so confirms, County may, without terminating the Contract, make payment of the balance due for that portion of the Work fully completed and accepted. If the remaining balance for Work not fully completed or corrected is less than the retainage stipulated in the Contract, and if bonds have been furnished as required, the written Consent of the Surety to the payment of the balance due for that portion of the Work fully completed and accepted shall be submitted by the Contractor to the CEI or A/E prior to recommendation for such payment. Such payment shall be made under the terms and conditions governing Final Payment, except that it shall not constitute a waiver of claims.