Final Estimate and Payment. As soon as practicable (but not more than sixty-five (65) days) after final completion of the Work, the City shall make a final estimate, in writing, of the quantity of work done under the Contract and the amount earned by the Contractor. The City shall pay to the Contractor the entire amount found to be earned and due hereunder after deducting therefrom all previous payments, all charges against the Contractor as provided for hereunder, and all amounts to be retained under the provisions of the Contract. Except as in this sub-section otherwise provided such payment shall be made not later than fifteen (15) days after, but in no event before, the expiration of the time within which claims for labor performed or materials or equipment furnished must be filed under the applicable Lien Law, or, if such time is not specified by law, the expiration of thirty (30) days after the completion of the Engineer’s final estimate. All quantities shown on progress estimates and all prior payments shall be subject to correction in the final estimate and payment.
Appears in 5 contracts
Samples: Agreement, Agreement, Elevator Constructors
