Form of Pay Requests and Backup Documentation Sample Clauses

Form of Pay Requests and Backup Documentation. As soon as practicable after the last business day of each month, Design-Builder shall submit an invoice to Owner's Representative requesting payment ("pay request") for ninety percent (90%) of the Subcontract Costs and/or Design-Builder’s fees and expenses incurred in the performance of Services and the Work during the preceding month. At no time shall the cumulative sum invoiced or paid exceed an amount equal to the Guaranteed Maximum Price multiplied by the percentage of the Work actually and satisfactorily completed as determined by Owner’s representative. Each pay request shall separately show the amounts of monies being claimed in connection with such pay request and any amounts claimed in connection with a Change Order. Pay requests shall also indicate Design-Builder's estimate of the percentage of completion of the Skate Park Project and each element thereof according to the line items established in the Schedule of Values. Unless otherwise directed by Owner's Representative, pay requests shall be submitted in quadruplicate, bearing the appropriate Skate Park Project numbers designated by Owner's representative to Owner's Representative for approval. Pay requests shall be accompanied by documentation in support of Subcontract costs as Owner's Representative may require including partial lien releases.
Sample 1
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Form of Pay Requests and Backup Documentation. As soon as practicable but before the 25th day of each month (or following business day if this date falls on a weekend day or observed holiday), Contractor shall submit a notarized invoice to Owner’s Representative requesting payment (“Pay Request”) for ninety percent (90%) of the Fee earned by Contractor in the performance of Services and the Work during the preceding month. 12.4.1 Any payment on account of stored materials or equipment will be subject to the Contractor providing written proof that the Owner has title to such materials or equipment and that they are suitably stored at the Project site and fully insured against loss or damages. Moreover, any sums approved for stored materials shall be at actual costs and shall not include markup by Subcontractors or Contractor’s fees. As used in the immediately preceding sentence, actual costs means costs charged by the manufacture or the distributor for the manufacturer and the Pay Request shall include copies of invoices from the manufacturer or the distributor. 12.4.2 Upon payment of fifty percent (50%) of the Contract Price, as it may be adjusted, and satisfactory, timely completion of fifty percent (50%) of the Work, Owner shall not retain additional retainage and Contractor’s Pay Requests may thereafter request payment for one hundred percent (100%) of the Fee earned during the pay period; provided, however, that if, after discontinuing such retainage, Owner determines that the Work is unsatisfactory or has fallen behind schedule, Owner may resume withholding retainage at the previous level. 12.4.3 Each Pay Request shall separately show the amounts of Construction Fee being claimed in connection with such Pay Request and any amounts claimed in connection with a Change Order. Pay Requests shall also include an updated Critical Path Schedule.
Sample 1
Form of Pay Requests and Backup Documentation. As soon as practicable after the last business day of each month, Construction Manager shall submit a notarized invoice to Owner’s Representative, with a copy to the Architect, requesting payment (“Pay Request”) for ninety percent (90%) of the Reimbursable Expenses and Subcontract Costs actually and reasonably incurred by Construction Manager and that portion of the Design Phase Fee, the Construction Phase Fee, or, if applicable, both, earned by Construction Manager, in the performance of Services and the Work during the preceding month. Any payment on account of stored materials or equipment will be subject to the Construction Manager providing written proof that the Owner has title to such materials or equipment and that they are suitably stored at the Project site and fully insured against loss or damages. Moreover, any sums approved for stored materials shall be at actual costs and shall not include markup by Subcontractors or subcontractors or Construction Manager’s Fees. As used in the immediately preceding sentence, actual costs means costs charged by the manufacture or the distributor for the manufacturer and the Pay Request shall include copies of invoices from the manufacturer or the distributor. Upon payment of fifty percent (50%) of the GMP, as it may be adjusted, and satisfactory, timely completion of fifty percent (50%) of the Work, as certified by Architect, Owner shall not retain additional retainage and Construction Manager’s Pay Requests may thereafter request payment for one hundred percent (100%) of Reimbursable Expenses and Subcontract Costs incurred, and Fees earned, during the pay period; provided, however, that if, after discontinuing such retainage, Owner’s Representative or Architect determines that the Work is unsatisfactory or has fallen behind schedule, Owner may resume withholding retainage at the previous level. At no time shall the cumulative sum invoiced or paid exceed an amount equal to the sum of: (i) the product of that portion of the GMP attributable solely to Design Phase Compensation multiplied by the cumulative percentage of completion of the Design for Construction, such percentage of completion to be determined by the Architect; plus; (ii) the product of that portion of the GMP attributable solely to Construction Phase Compensation multiplied by the cumulative percentage of the Work actually and satisfactorily complete, such percentage of completion to be measured against the Construction Manager’s schedule of valu...
Sample 1

Related to Form of Pay Requests and Backup Documentation

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  • Product Documentation You should review the policy documents carefully to ensure they accurately reflect the cover, conditions, limits and other terms that you require. Particular attention should be paid to policy conditions and warranties as failure to comply with these could invalidate your policy. Claims can arise, under certain types of insurance contract, long after the expiry of the policy. It is therefore important that you retain and keep safely all documents associated with your policy.

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