Common use of Consideration and Terms of Payment Clause in Contracts

Consideration and Terms of Payment. A. Consideration for all services performed and goods or materials supplied by the CONTRACTOR for all work authorizations issued pursuant to this Master Contract shall be paid by MnSCU as follows: 1. Compensation of [INSERT DOLLAR AMOUNT IN WORDS AND NUMBERS PER HOUR FOR EACH SERVICE IDENTIFIED, e.g, Fifty and 00/100 Dollars ($50.00) per hour for XYZ task)] 2. The total obligation of MnSCU for all compensation and reimbursement to the CONTRACTOR shall not exceed [INSERT DOLLAR AMOUNT IN WORDS AND NUMBERS, e.g. Four Thousand One Hundred Twenty and 00/100 Dollars ($4,120.00).]. 3. Check one box below as applicable. $ . No funds are encumbered at this time and payment will be certified by purchase order. [IF THIS BOX IS CHECKED, WRITE “NOT APPLICABLE”IN THE ENCUMBRANCE SIGNATURE BLOCK.]

Consideration and Terms of Payment. A. a. Consideration for all services performed and goods or materials supplied by the CONTRACTOR for all work authorizations issued pursuant to this Master Contract shall be paid by MnSCU MINNESOTA STATE as follows: 1. i. Compensation of [INSERT DOLLAR AMOUNT IN WORDS AND NUMBERS PER HOUR FOR EACH SERVICE IDENTIFIED, e.ge.g., Fifty and 00/100 Dollars ($50.00) per hour for XYZ task)] [[ Compensation Breakdown ]]. 2ii. The total obligation of MnSCU MINNESOTA STATE for all compensation and reimbursement to the CONTRACTOR shall not exceed [INSERT DOLLAR AMOUNT IN WORDS AND NUMBERS, e.g. Four Thousand One Hundred Twenty and 00/100 Dollars ($4,120.00).[ Total Obligation ]]. 3iii. Check one box below as applicable. ☐ Funds are encumbered on this contract and the encumbered amount is $ . - ☐ No funds are encumbered at this time and payment will be certified by purchase order. [IF THIS BOX IS CHECKED, WRITE “NOT APPLICABLE”IN APPLICABLE” IN THE ENCUMBRANCE SIGNATURE BLOCK.]

Consideration and Terms of Payment. A. Consideration for all services performed and goods or materials supplied by the CONTRACTOR for all work authorizations issued pursuant to this Master Contract shall be paid by MnSCU as follows: 1. Compensation of [INSERT DOLLAR AMOUNT IN WORDS AND NUMBERS PER HOUR FOR EACH SERVICE IDENTIFIED, e.ge.g., Fifty and 00/100 Dollars ($50.00) per hour for XYZ task)] 2. The total obligation of MnSCU for all compensation and reimbursement to the CONTRACTOR shall not exceed [INSERT DOLLAR AMOUNT IN WORDS AND NUMBERS, e.g. Four Thousand One Hundred Twenty and 00/100 Dollars ($4,120.00).]. 3. Check one box below as applicable. $ . No funds are encumbered at this time and payment will be certified by purchase order. [IF THIS BOX IS CHECKED, WRITE “NOT APPLICABLE”IN THE ENCUMBRANCE SIGNATURE BLOCK.]