Common use of ASSET MAINTENANCE PERFORMANCE MEASURES Clause in Contracts

ASSET MAINTENANCE PERFORMANCE MEASURES. MRP SCORES MRP notes: The department will hold the retainage withheld from MRP periods 1 & 2 until the Department calculates the final annual rating. If the final annual calculated deduction is less than the total accumulated retainage for the fiscal year, the balance of the retainage will be paid to the Contractor. If the final annual calculated deduction exceeds the total accumulated retainage for the fiscal year, the balance will be deducted from the Contractor’s payment. All deductions withheld from the Contractor and all retainage refunds to the Contractor will occur through adjustments to the next appropriate monthly invoice amount. Deficiency Identification Deduction/Retainage

ASSET MAINTENANCE PERFORMANCE MEASURES. MRP SCORES MRP notes: The department will hold the retainage withheld from MRP periods 1 & 2 until the Department calculates the final annual rating. If the final annual calculated deduction is less than the total accumulated retainage for the fiscal year, the balance of the retainage will be paid to the Contractor. If the final annual calculated deduction exceeds the total accumulated retainage for the fiscal year, the balance will be deducted from the Contractor’s payment. All deductions withheld from the Contractor and all retainage refunds to the Contractor will occur through adjustments to the next appropriate monthly invoice amount. MRP SCORES Deficiency Identification Deduction/Retainage