Common use of Billing Method Clause in Contracts

Billing Method. 1.4.1 To receive payment for services rendered under this contract, Contractor shall submit a fully completed invoice for work previously performed to: 1.4.2 At a minimum, the invoice shall be in accordance with AIA invoicing standards and include the following information: 1.4.2.1 Unique invoice number; 1.4.2.2 Contractor’s name, address, and telephone number; 1.4.2.3 Date of invoice and/or billing period; 1.4.2.4 Contract number; 1.4.2.5 Brief description of services rendered, including applicable time frame, total hours being billed for each service at each detailed site; 1.4.2.6 Asset Management Project (AMP) or address where the work was performed; 1.4.2.7 Total dollar amount being billed; 1.4.2.8 A statement certifying all wage reporting requirements for the work included in the billing period are satisfied; 1.4.2.9 All supporting documentation for services being billed including, but not limited to subcontractor invoices, material receipts, time logs, etc.; and 1.4.2.10 The Minneapolis Public Housing Authority Contractor Sales Tax Documentation form shall be completed and included with every invoice including subcontractor invoices. State and local taxes shall be separated and properly documented with material receipts. 1.4.3 The MPHA shall withhold a 5% retainage from each progress payment consistent with applicable laws and regulations. Notwithstanding any other provision to the contrary, the MPHA may make full payment for equipment and materials delivered to the job site or stored offsite if the equipment and materials are suitably stored, the equipment and materials are protected by suitable insurance, and upon payment, the MPHA receives the equipment and materials free and clear of all liens and encumbrances. The MPHA may release the retainage when the project is substantially completed to the satisfaction of the MPHA. The MPHA may reduce or eliminate the retainage if work is progressing satisfactorily. Subcontractors, if any, may request retainage on their final progress payment if their work is complete. 1.4.4 Contractor shall submit one progress payment each month that shall include all subcontractors’ work completed and approved by the MPHA. A progress payment shall not be an acceptance or approval of any work, or the waiver of any defect or violation of the contract. 1.4.5 The MPHA will pay each such properly completed invoice received on a Net/30 basis. Any invoice received not properly completed will not be paid unless and/or until Contractor complies with the applicable provisions of this contract. 1.4.6 Contractor shall deliver to the MPHA an invoice each month for services performed the previous month.