Common use of Contractor Payments to Subcontractors Clause in Contracts

Contractor Payments to Subcontractors. Contractor shall maintain records of all subcontracts entered into with Certified Firms and records of services or materials purchased from Certified Firm suppliers. Such records shall show the name and business address of each Certified Firm subcontractor or vendor and the total dollar amount actually paid to each Certified Firm subcontractor or vendor. The Contractor shall pay each subcontractor for satisfactory performance of its contract no later than ten Calendar Days from receipt of each payment the Contractor receives from the Agency. The Contractor shall also return retainage payments to each subcontractor within ten Calendar Days after the subcontractor’s work is satisfactorily completed. Any delay or postponement of payment from the above referenced time frame may occur only for good cause following written approval of the Project Manager. This policy applies to all subcontractors.

Contractor Payments to Subcontractors. Contractor shall maintain records of all subcontracts entered into with Certified Firms and records of services or materials purchased from Certified Firm suppliers. Such records shall show the name and business address of each Certified Firm subcontractor or vendor and the total dollar amount actually paid to each Certified Firm subcontractor or vendor. The Contractor shall pay each subcontractor for satisfactory performance of its contract Contract no later than ten Calendar 10 calendar Days from receipt of each payment the Contractor receives from the Agency. The Contractor shall also return retainage payments to each subcontractor within ten Calendar 10 calendar Days after the subcontractor’s work is satisfactorily completed. Any delay or postponement of payment from the above referenced time frame may occur only for good cause following written approval of the Project Manager. This policy applies to all subcontractors.

Contractor Payments to Subcontractors. Contractor shall maintain records of all subcontracts entered into with Certified Firms and records of services or materials purchased from Certified Firm suppliers. Such records shall show the name and business address of each Certified Firm subcontractor or vendor and the total dollar amount actually paid to each Certified Firm subcontractor or vendor. The Contractor shall pay each subcontractor for satisfactory performance of its contract no later than ten 10 Calendar Days from receipt of each payment the Contractor receives from the Agency. The Contractor shall also return retainage payments to each subcontractor within ten 10 Calendar Days after the subcontractor’s work is satisfactorily completed. Any delay or postponement of payment from the above referenced time frame may occur only for good cause following written approval of the Project Manager. This policy applies to all subcontractors.