FINAL FEE DETERMINATION Clause Samples
The Final Fee Determination clause establishes the process by which the ultimate amount of fees owed under an agreement is calculated and confirmed. Typically, this clause outlines the timing, method, and criteria for determining the final fee, such as after the completion of services or delivery of goods, and may specify the involvement of invoices, supporting documentation, or third-party verification. Its core practical function is to ensure both parties have a clear, agreed-upon process for settling the final payment amount, thereby reducing disputes and providing financial certainty at the conclusion of the contractual relationship.
FINAL FEE DETERMINATION. (a) Upon successful completion of work as specified in Section C, the Contracting Officer shall determine the total fee earned by the Contractor consistent with the award fee plan, and any reductions made under any other clause of the contract. If the amount of the total fee earned is less than the total amount of all fee payments previously made to the Contractor, the Contractor shall reimburse DOE the difference. The difference is subject to FAR Clause 52.232-17, Interest (JUN 1996). If the amount of total fee earned is more than the total amount of all prior fee payments previously made to the Contractor, DOE shall pay the Contractor the difference.
FINAL FEE DETERMINATION. (a) Upon the physical completion of the contract, the Contracting Officer shall determine and pay the total fee earned by the Contractor consistent with Clause I.23, "Incentive Fee," Clause B.6, "Fee Payment Schedule and Fee Payment Withholding," Clause B.5, "Schedule Incentive," and Section F of the contract. All payments of ordinary fee made before physical completion of the contract will be conditional. If the amount of the total adjusted fee is less than the total amount of ordinary fee payments previously made to the Contractor, the Contractor shall reimburse the Government the difference. If the amount of total adjusted fee is more than the total amount of ordinary payments of fee previously made to Contractor, the Government shall pay the Contractor the difference.