Common use of Fixed Price Milestone Payment Method Clause in Contracts

Fixed Price Milestone Payment Method. Payments shall be made in accordance with the Payable Milestone Schedule of each Research Project Award, provided the designated SOTR has verified compliance with the Statement of Work and accomplishment of the stated effort. The Payable Milestone Schedule may be revised as appropriate and deemed necessary by issuance of a bilateral modification to the Research Project Award. Quarterly reviews by the SOTR and the CM will assess the need for revisions to the Payable Milestone Schedule. An acceptable invoice for adjustable fixed price milestone payments is one that (on the invoice or on the Payable Milestone Report): contains the date of invoice and the Base Agreement number and Research Project Award number; identifies any associated technical milestones and the progress toward completion of each milestone; and lists the milestone cost negotiated and contained in each Research Project Award Cost Reimbursable Milestone Payment Method (with not to exceed ceiling): Payment is contingent upon satisfactory progress toward completion of milestones as delineated in Research Project Award. Payment shall be made based on actual costs incurred in completing milestones up to the maximum amount allowable under the applicable Research Project Award, provided the designated SOTR has verified compliance with the Statement of Work and accomplishment of the stated effort. Either a Status Report identifying any associated technical tasks and the progress toward completion of each milestone, a Deliverable Report, or a Milestone Report is required concurrent with the invoice. An acceptable invoice for reimbursable payment is one that (on the invoice or on the attached Status, Deliverable, or Milestone Report in accordance with each Research Project Award): contains the date of invoice and the Base Agreement number and Research Project Award number; identifies any associated technical milestones and the progress toward completion of each milestone; includes a description of supplies and services, labor costs, subcontractor costs, material costs, travel costs, other direct costs, indirect costs, and extended totals; indicates the current period and cumulative man-hours and costs incurred through the period indicated on the invoice; and contains the following certification statement: “I certify that the amounts invoiced are for costs incurred in accordance with the agreement, the work reflected has been performed, and prior payment has not been received.” Authorized Signature _________________________________________ Cost Plus Fixed Fee Milestone Payment Method (with not to exceed ceiling): Payment is contingent upon satisfactory progress toward completion of milestones as delineated in Research Project Award. Payment shall be made based on actual costs incurred in completing milestones up to the maximum amount allowable under the applicable Research Project Award, provided the designated SOTR has verified compliance with the Statement of Work and accomplishment of the stated effort. The Project Agreement Awardee will normally fund any costs incurred above this maximum amount. Either a Status Report identifying any associated technical tasks and the progress toward completion of each milestone, a Deliverable Report, or a Milestone Report is required concurrent with the invoice. Payment of the fixed fee specified in each Research Project Award, subject to any adjustments required by other provisions of this Base Agreement and/or Research Project Award, will be paid in installments at the time of each provisional payment on account of the allowable costs. The amount of fixed fee paid will be based upon the ratio that the Research Project Awardee's incurred allowable costs bear to the total estimated cost. In the event the work cannot be completed within the estimated cost, the CM may increase the estimated cost without increasing the fixed fee. An acceptable invoice for reimbursable payment is one that (on the invoice or on the attached Status, Deliverable, or Milestone Report in accordance with each Research Project Award): contains the date of invoice and the Base Agreement number and Research Project Award number; identifies any associated technical milestones and the progress toward completion of each milestone; includes a description of supplies and services, labor costs, subcontractor costs, material costs, travel costs, other direct costs, indirect costs, fixed fee and extended totals; indicates the current period and cumulative man-hours and costs incurred through the period indicated on the invoice; and contains the following certification statement: “I certify that the amounts invoiced are for costs incurred in accordance with the agreement, the work reflected has been performed, and prior payment has not been received.” Authorized Signature _________________________________________ Cost Reimbursable, Cost Sharing Milestone Payment Method (with not to exceed ceiling): Payment is contingent upon satisfactory progress toward completion of milestones as delineated in Research Project Award and acceptable cost share. Payment shall be made based on actual costs incurred in completing milestones up to the maximum amount allowable under the applicable Research Project Award, provided the designated AOR has verified compliance with the Statement of Work and accomplishment of the stated effort. Either a Status Report identifying any associated technical tasks and the progress toward completion of each milestone, a Deliverable Report, or a Milestone Report is required concurrent with the invoice. An acceptable invoice for reimbursable payment is one that (on the invoice or on the attached Status, Deliverable, or Milestone Report in accordance with each Research Project Award): contains the date of invoice and the Base Agreement number and Research Project Award number; identifies any associated technical milestones and the progress toward completion of each milestone; includes a report of the cost share expended towards the accomplishment of the SOW tasks and/or milestones. This cost share report may be attached to the invoice if contractor practices make inclusion of such information on the invoice itself impractical. If the cost share report is separate from the invoice, it must be signed by an authorized representative. This cost share report must contain a breakout of the cost share by cost element similar to the level of detail required on the invoice and any in-kind contributions. The preferred method of reporting cost share is to provide an invoice for actual cost incurred with a value for the cost shared amount and the value to be reimbursed by the Government through the CM; includes a description of supplies and services, labor costs, subcontractor costs, material costs, travel costs, other direct costs, indirect costs, and extended totals; indicates the current period and cumulative man-hours and costs incurred through the period indicated on the invoice; and contains the following certification statement: “I certify that the amounts invoiced are for costs incurred in accordance with the agreement, the work reflected has been performed, and prior payment has not been received.” Authorized Signature _________________________________________ Invoices may be submitted no more frequently than monthly. The Research Project Awardee shall submit invoices and any necessary supporting documentation to ‘Advanced Technology International’ via email at xxxx-xx@xxx.xxx. Research Project Awardee’s final invoice (completion invoice) will be clearly indicated as such and shall indicate the cumulative amounts incurred and billed to completion, and a written certification of the total hours expended. Actual project costs incurred and cost share performance, if applicable, of each project shall be reported and reviewed each quarter.

Fixed Price Milestone Payment Method. Payments shall be made in accordance with the Payable Milestone Schedule of each Research Project Award, provided the designated SOTR has verified compliance with the Statement of Work and accomplishment of the stated effort. Milestones should only be invoiced for if they are 100% complete as the Government will not approve payments for incomplete or partially completed milestones, unless the Agreements Officer determines that extraordinary circumstance exist. The Payable Milestone Schedule may be revised as appropriate and deemed necessary by issuance of a bilateral modification to the Research Project Award. Quarterly reviews by the SOTR and the CM will assess the need for revisions to the Payable Milestone Schedule. An acceptable invoice for adjustable fixed price milestone payments is one that (on the invoice or on the Payable Milestone Report): contains the date of invoice and the Base Agreement number and Research Project Award number; identifies any associated technical milestones and the progress toward completion of each milestone; and lists the milestone cost negotiated and contained in each Research Project Award Cost Reimbursable Milestone Payment Method (with not to exceed ceiling): Payment is contingent upon satisfactory satisfactory progress toward completion of milestones as delineated in Research Project Award. Payment shall be made based on actual costs incurred in completing milestones up to the maximum amount allowable under the applicable Research Project Award, provided the designated SOTR has verified compliance with the Statement of Work and accomplishment of the stated effort. Parties agree that cost reimbursable payments will be made towards accomplishment of the project objectives to include the agreed upon milestones and deliverables. Either a Status Report identifying any associated technical tasks and the progress toward completion of each milestone, a Deliverable Report, or a Milestone Report is required concurrent with the invoice. An acceptable invoice for reimbursable payment is one that (on the invoice or on the attached Status, Deliverable, or Milestone Report in accordance with each Research Project Award): : contains the date of invoice and the Base Agreement number and Research Project Award number; identifies any associated technical milestones and the progress toward completion of each milestone; includes a description of supplies and services, labor costs, subcontractor costs, material costs, travel costs, other direct costs, indirect costs, and extended totals; indicates the current period and cumulative man-hours and costs incurred through the period indicated on the invoice; and contains the following certification statement: “I certify that the amounts invoiced are for costs incurred in accordance with the agreement, the work reflected has been performed, and prior payment has not been received.” Authorized Signature _________________________________________ Cost Plus Fixed Fee Milestone Payment Method (with not to exceed ceiling): Payment is contingent upon satisfactory progress toward completion of milestones as delineated in Research Project Award. Payment shall be made based on actual costs incurred in completing milestones up to the maximum amount allowable under the applicable Research Project Award, provided the designated SOTR has verified compliance with the Statement of Work and accomplishment of the stated effort. The Project Agreement Awardee will normally fund any costs incurred above this maximum amount. Either a Status Report identifying any associated technical tasks and the progress toward completion of each milestone, a Deliverable Report, or a Milestone Report is required concurrent with the invoice. Payment of the fixed fee specified in each Research Project Award, subject to any adjustments required by other provisions of this Base Agreement and/or Research Project Award, Parties agree that cost reimbursable payments will be paid in installments at the time of each provisional payment on account of the allowable costs. The amount of fixed fee paid will be based upon the ratio that the Research Project Awardee's incurred allowable costs bear to the total estimated cost. In the event the work cannot be completed within the estimated cost, the CM may increase the estimated cost without increasing the fixed fee. An acceptable invoice for reimbursable payment is one that (on the invoice or on the attached Status, Deliverable, or Milestone Report in accordance with each Research Project Award): contains the date of invoice and the Base Agreement number and Research Project Award number; identifies any associated technical milestones and the progress toward completion of each milestone; includes a description of supplies and services, labor costs, subcontractor costs, material costs, travel costs, other direct costs, indirect costs, fixed fee and extended totals; indicates the current period and cumulative man-hours and costs incurred through the period indicated on the invoice; and contains the following certification statement: “I certify that the amounts invoiced are for costs incurred in accordance with the agreement, the work reflected has been performed, and prior payment has not been received.” Authorized Signature _________________________________________ Cost Reimbursable, Cost Sharing Milestone Payment Method (with not to exceed ceiling): Payment is contingent upon satisfactory progress toward completion of milestones as delineated in Research Project Award and acceptable cost share. Payment shall be made based on actual costs incurred in completing milestones up to the maximum amount allowable under the applicable Research Project Award, provided the designated AOR has verified compliance with the Statement of Work and towards accomplishment of the stated effort. Either a Status Report identifying any associated technical tasks and project objectives to include the progress toward completion of each milestone, a Deliverable Report, or a Milestone Report is required concurrent with the invoice. An acceptable invoice for reimbursable payment is one that (on the invoice or on the attached Status, Deliverable, or Milestone Report in accordance with each Research Project Award): contains the date of invoice and the Base Agreement number and Research Project Award number; identifies any associated technical agreed upon milestones and the progress toward completion of each milestone; includes a report of the cost share expended towards the accomplishment of the SOW tasks and/or milestones. This cost share report may be attached to the invoice if contractor practices make inclusion of such information on the invoice itself impractical. If the cost share report is separate from the invoice, it must be signed by an authorized representative. This cost share report must contain a breakout of the cost share by cost element similar to the level of detail required on the invoice and any in-kind contributions. The preferred method of reporting cost share is to provide an invoice for actual cost incurred with a value for the cost shared amount and the value to be reimbursed by the Government through the CM; includes a description of supplies and services, labor costs, subcontractor costs, material costs, travel costs, other direct costs, indirect costs, and extended totals; indicates the current period and cumulative man-hours and costs incurred through the period indicated on the invoice; and contains the following certification statement: “I certify that the amounts invoiced are for costs incurred in accordance with the agreement, the work reflected has been performed, and prior payment has not been receiveddeliverables.” Authorized Signature _________________________________________ Invoices may be submitted no more frequently than monthly. The Research Project Awardee shall submit invoices and any necessary supporting documentation to ‘Advanced Technology International’ via email at xxxx-xx@xxx.xxx. Research Project Awardee’s final invoice (completion invoice) will be clearly indicated as such and shall indicate the cumulative amounts incurred and billed to completion, and a written certification of the total hours expended. Actual project costs incurred and cost share performance, if applicable, of each project shall be reported and reviewed each quarter.

Fixed Price Milestone Payment Method. Payments shall be made in accordance with the Payable Milestone Payment Schedule of each Research Project AwardAgreement, provided the designated SOTR AOR has verified compliance with the Statement of Work and accomplishment of the stated effort. The Payable Milestone Schedule may be revised as appropriate and deemed necessary by issuance of a bilateral modification to the Research Project Award. Quarterly reviews by the SOTR and the CM will assess the need for revisions to the Payable Milestone Schedule. An acceptable invoice for adjustable fixed price milestone payments is one that (on the invoice or on the Payable Milestone Report): Is addressed to: contains the date of invoice, invoice number, and the Base Agreement and Project Agreement number (20XX-XXX Project Agreement X); identifies the milestone number and Research Project Award number; identifies deliverable description for any associated technical milestones and the progress toward completion of each milestonemilestone(s) that are complete; and lists the milestone cost amount negotiated and contained in each Research Project Award Agreement. Cost Plus Fixed Fee or Cost Reimbursable Milestone Payment Method (with not to exceed ceiling): ) for Consortium Members subject to full Cost Accounting Standards on other agreements or contracts: Payment is contingent upon satisfactory progress toward completion of milestones as delineated in Research each Project AwardAgreement and subject to Article 25, Allowable Costs, paragraph 3. Invoices submitted that include charges for travel, subsistence, and lodging shall be supported by a copy of the employee's travel expense report, or itemized report, with copies of all receipts for expenses in excess of $75 to be kept on file at the Consortium Members’ facility. These supporting documents will not be submitted to CM but shall be maintained at the Consortium Members’ facility, and should the circumstances dictate, copies of the substantiating document(s) shall be provided to the appropriate Government audit agency. All travel charges for meals, incidental expenses (M&IE) and lodging shall be at the Government Per Diem Rates found at: xxxxx://xxx.xxx.xxx/travel/plan-book/per-diem-rates. Payment shall be made based on actual costs incurred in completing milestones up to the maximum amount allowable under the applicable Research Project AwardAgreement, provided the designated SOTR AOR has verified compliance with the Statement of Work and accomplishment of the stated effort. Either Per (iii) below, either a Status Report identifying any associated technical tasks and the progress toward completion of each milestone, a Deliverable Reportdeliverable report, or a Milestone Report milestone report is required concurrent with the invoice. An acceptable invoice for reimbursable payment is one that (on the invoice or on the attached Statusstatus, Deliverabledeliverable, or Milestone Report milestone report in accordance with each Research Project AwardAgreement): Is addressed to the CM and contains the CM’s address: contains the date of invoice, invoice number, and the Base Agreement and Project Agreement number and Research (20XX-XXX Project Award numberAgreement X); identifies any associated technical milestones and the progress toward completion of each milestone; includes a description of supplies and services, labor costs, subcontractor costs, material costs, travel costs, other direct costs, indirect costsfixed fee, if applicable, and extended totals; indicates the current period and cumulative man-hours and costs incurred through the period indicated on the invoice; and contains the following certification statement: “I certify that the amounts invoiced are for costs incurred in accordance with the agreement, the work reflected has been performed, statement and prior payment has not been received.” Authorized Signature _________________________________________ Cost Plus Fixed Fee Milestone Payment Method (with not to exceed ceiling): Payment is contingent upon satisfactory progress toward completion of milestones as delineated in Research Project Award. Payment shall be made based on actual costs incurred in completing milestones up to the maximum amount allowable under the applicable Research Project Award, provided the designated SOTR has verified compliance with the Statement of Work and accomplishment of the stated effort. The Project Agreement Awardee will normally fund any costs incurred above this maximum amount. Either a Status Report identifying any associated technical tasks and the progress toward completion of each milestone, a Deliverable Report, or a Milestone Report is required concurrent with the invoice. Payment of the fixed fee specified in each Research Project Award, subject to any adjustments required by other provisions of this Base Agreement and/or Research Project Award, will be paid in installments at the time of each provisional payment on account of the allowable costs. The amount of fixed fee paid will be based upon the ratio that the Research Project Awardee's incurred allowable costs bear to the total estimated cost. In the event the work cannot be completed within the estimated cost, the CM may increase the estimated cost without increasing the fixed fee. An acceptable invoice for reimbursable payment is one that (on the invoice or on the attached Status, Deliverable, or Milestone Report in accordance with each Research Project Award): contains the date of invoice and the Base Agreement number and Research Project Award number; identifies any associated technical milestones and the progress toward completion of each milestone; includes a description of supplies and services, labor costs, subcontractor costs, material costs, travel costs, other direct costs, indirect costs, fixed fee and extended totals; indicates the current period and cumulative man-hours and costs incurred through the period indicated on the invoice; and contains the following certification statementsignature: “I certify that the amounts invoiced are for costs incurred in accordance with the agreement, the work reflected has been performed, and prior payment has not been received.” Authorized Signature _________________________________________ Cost Reimbursable, Cost Sharing Milestone Payment Method (with not to exceed ceiling): ) for Consortium Members subject to full Cost Accounting Standards on other agreements or contracts: Payment is contingent upon satisfactory progress toward completion of milestones as delineated in Research each Project Award Agreement and acceptable cost share, and subject to Article 25, Allowable Costs, paragraph 3. Invoices submitted that include charges for travel, subsistence, and lodging shall be supported by a copy of the employee's travel expense report, or itemized report, with copies of all receipts for expenses in excess of $75 to be kept on file at the Consortium Members’ facility. These supporting documents will not be submitted to CM but shall be maintained at the Consortium Members’ facility, and should the circumstances dictate, copies of the substantiating document(s) shall be provided to the appropriate Government audit agency. All travel charges for meals, incidental expenses (M&IE) and lodging shall be at the Government Per Diem Rates found at: xxxxx://xxx.xxx.xxx/travel/plan-book/per-diem-rates. Payment shall be made based on actual costs incurred in completing milestones up to the maximum amount allowable under the applicable Research Project AwardAgreement, provided the designated AOR has verified compliance with the Statement of Work and accomplishment of the stated effort. Either Per (iii) below, either a Status Report status report identifying any associated technical tasks and the progress toward completion of each milestone, a Deliverable Reportdeliverable report, or a Milestone Report milestone report is required concurrent with the invoice. An acceptable invoice for reimbursable payment is one that (on the invoice or on the attached Statusstatus, Deliverabledeliverable, or Milestone Report milestone report in accordance with each Research Project AwardAgreement): Is addressed to the CM and contains the CM’s address: contains the date of invoice, invoice number, and the Base Agreement and Project Agreement number and Research (20XX-XXX Project Award numberAgreement X); identifies any associated technical milestones and the progress toward completion of each milestone; includes a report of the cost share expended towards the accomplishment of the SOW tasks and/or milestones. This cost share report may be attached to the invoice if contractor practices make inclusion of such information on the invoice itself impractical. If the cost share report is separate from the invoice, it must be signed by an authorized representative. This cost share report must contain a breakout of the cost share by cost element similar to the level of detail required on the invoice and any in-kind contributions. The preferred method of reporting cost share is to provide an invoice for actual cost incurred with a value for the cost shared amount and the value to be reimbursed by the Government through the CM; includes a description of supplies and services, labor costs, subcontractor costs, material costs, travel costs, other direct costs, indirect costs, and extended totals; indicates the current period and cumulative man-hours and costs incurred through the period indicated on the invoice; and contains the following certification statementstatement and signature: “I certify that the amounts invoiced are for costs incurred in accordance with the agreement, the work reflected has been performed, and prior payment has not been received.” Authorized Signature _________________________________________ Invoices may Cost Plus Fixed Fee or Cost Reimbursable Milestone Payment Method (with not to exceed ceiling) for Consortium Members not subject to full Cost Accounting Standards on other agreements or contracts: Payment is contingent upon satisfactory progress toward completion of milestones as delineated in each Project Agreement and subject to Article 25, Allowable Costs, paragraph 3. Payment shall be submitted no more frequently than monthlymade based on actual costs incurred in completing milestones up to the maximum amount allowable under the applicable Project Agreement, provided the designated AOR has verified compliance with the Statement of Work and accomplishment of the stated effort. The Research Per (iii) below, either a Status Report identifying any associated technical tasks and the progress toward completion of each milestone, a deliverable report, or a milestone report is required concurrent with the invoice. An acceptable invoice for reimbursable payment is one that (on the invoice or on the attached status, deliverable, or milestone report in accordance with each Project Awardee shall submit invoices Agreement): Is addressed to the CM and any necessary supporting documentation to ‘Advanced Technology International’ via email at xxxx-xx@xxx.xxx. Research Project Awardeecontains the CM’s final address; contains the date of invoice, invoice (completion invoice) will be clearly indicated as such and shall indicate the cumulative amounts incurred and billed to completionnumber, and the Base Agreement and prototype project agreement number (20XX-XXX Project Agreement X); identifies any associated technical milestones and the progress toward completion of each milestone; includes a written certification description of the total hours expended. Actual project costs incurred supplies and cost share performanceservices, labor costs, subcontractor costs, material costs, travel costs, other direct costs, fixed fee, if applicable, of each project shall be reported and reviewed each quarterextended totals; indicates the current period and cumulative man-hours and costs incurred through the period indicated on the invoice; and contains the following certification statement and signature: “I certify that the amounts invoiced are for costs incurred in accordance with the agreement, the work reflected has been performed, and prior payment has not been received.” Authorized Signature _________________________________________