Common use of Deliverables and Financial Consequences Clause in Contracts

Deliverables and Financial Consequences. The following financial consequences will apply for the Contractor’s non-performance of the provision of the Quarterly Sales Reports and the MFMP Transaction Fee Reports. The State reserves the right to withhold payment or implement other appropriate remedies, such as Contract termination or nonrenewal, when the Contractor has failed to comply with these provisions of the Contract. The Contractor and the Department agree that the financial consequences for non-performance are an estimate of damages which are difficult to ascertain and are not penalties. The financial consequences will be paid via check or money order and made out to the Department of Management Services in U.S. dollars within thirty (30) calendar days after the required report submission date. These consequences are individually assessed for failures over each target period beginning with the first full month or quarter of the Contract and every month or quarter, respectively, thereafter. Contractor will timely submit complete Quarterly Sales Reports All Quarterly Sales Reports will be submitted timely with the required information Reports are due on or before the 30th calendar day after the close of each State fiscal quarter $250 Contractor will timely submit complete MFMP Transaction Fee Reports All MFMP Transaction Fee Reports will be submitted timely with the required information Reports are due on or before the 15th calendar day after the close of each month $100 1. Service Level Agreement (SLA) Performance

Deliverables and Financial Consequences. The following financial consequences will apply for the Contractor’s non-performance of the provision of the Quarterly Sales Reports and the MFMP Transaction Fee Reports. The State reserves the right to withhold payment or implement other appropriate remedies, such as Contract termination or nonrenewal, when the Contractor has failed to comply with these provisions of the Contract. The Contractor and the Department agree that the financial consequences for non-performance are an estimate of damages which are difficult to ascertain and are not penalties. The financial consequences will be paid via check or money order and made out to the Department of Management Services in U.S. dollars within thirty (30) calendar days after the required report submission date. These consequences are individually assessed for failures over each target period beginning with the first full month or quarter of the Contract and every month or quarter, respectively, thereafter. Contractor will timely submit complete Quarterly Sales Reports All Quarterly Sales Reports will be submitted timely with the required information Reports are due on or before the 30th calendar day after the close of each State fiscal quarter $250 Contractor will timely submit complete MFMP Transaction Fee Reports All MFMP Transaction Fee Reports will be submitted timely with the required information Reports are due on or before the 15th calendar day after the close of each month $100 100 1. Service Level Agreement (SLA) PerformancePerformance State agencies and eligible users may add SLA requirements and additional financial consequences in their statements of work for failing to meet performance requirements within any negotiated SLA or purchase order.