Common use of Financial Penalties for Late Reporting Clause in Contracts

Financial Penalties for Late Reporting. In addition to procedures set forth in Part II, Subsection C. 16. of this Contract, the Department may impose a financial penalty on the Contractor if the Contractor fails to submit timely and accurate reports. Such penalties will be $500 per late report and may, at the discretion of the Department, be withheld from payments to the Contractor.

Financial Penalties for Late Reporting. In addition to procedures proceduesr set forth in Part II, Subsection C. 16. of this Contract, the Department may impose a financial penalty on the Contractor Cotnractor if the Contractor fails to submit timely and accurate reports. Such penalties will be $500 per late report and repoarnt d may, at the discretion of the Department, be withheld from payments to the Contractor.