Format of Application for Payment Sample Clauses

Format of Application for Payment. In addition to a schedule of values or detailed outline for the Cost of Work that is acceptable to the Contractor and University, other specific requirements for Application for Payment format and calculations include.  Applications for Payment shall first present the itemized Cost of Work. o Work being performed according to unit pricing or time and material, invoicing and Applications for Payment must be accompanied by acceptable supporting documentation to evidence accurate quantities of actual labor, materials and equipment. Mark-ups to the actual cost of work performed will be additive to these items. Refer further to Article 6.00. o Change Orders executed between the Contractor and University shall be reported as separate line items within the Application for Payment and directly under applicable Trade Contractor Cost of Work items. Change Orders affecting multiple Trade Contractor Cost of Work items shall be similarly numbered to permit ease of tracking. These requirements shall run through Trade Contractor Applications for Payment to the Contractor to permit ease of tracking. Change Orders within a Trade Contractor Application for Payment shall be appropriately labeled as being initiated by the Contractor or Owner to permit ease of tracking.  Following the itemized Cost of Work, Applications for Payment shall next present itemized Indirect Cost of Work components.  Following itemized Indirect Cost of Work, Applications for Payment shall next present the remaining Construction Contingency included in the Contract Sum or GMP. Applications for progress payments may show a value of the remaining construction contingency that differs from the original construction contingency included in the GMP due to positive or negative Trade Contractor bid / buy-out performance, or due to allocations of construction contingency to Work scope within the intent of the GMP. The Contractor and University Representative will mutually develop a separate construction contingency tracking report that readily reconciles to monthly progress payments showing additive and deductive changes to itemized Cost of Work or Indirect Cost of Work components.  The above cost components shall next be presented as a sub-total of the total Direct and Indirect Costs of construction.  The Contractor’s fee shall next be presented as a percentage of the total Direct and Indirect Costs of construction and shall include the calculation of its derivation.
Sample 1
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Format of Application for Payment. In addition to a schedule of values or detailed outline for the Cost of Work that is acceptable to the Contractor and University, other specific requirements for Application for Payment format and calculations include. Applications for Payment shall first present the itemized Cost of Work. For any portion of the Work being performed according to unit pricing or time and materials pricing, invoicing and Applications for Payment must be accompanied by acceptable supporting documentation to evidence accurate quantities of actual labor, materials and equipment. Any allowed xxxx-ups to the actual cost of Work performed will be added to these costs separately and not included in the actual cost. Change Orders executed between the Contractor and University shall be reported as separate line items within the Application for Payment and directly under applicable Subcontractor Cost of Work items. Change Orders affecting multiple Subontractors’ Cost of Work items shall be similarly numbered to permit ease of tracking. These requirements shall run through Subcontractor Applications for Payment to the Contractor to permit ease of tracking. Change Orders within a Subcontractor Application for Payment shall be appropriately labeled as being initiated by the Contractor or University to permit ease of tracking. The Contractor’s General Conditions, Overhead and Profit shall next be calculated as the balance of the Application for Payment.
Sample 1

Related to Format of Application for Payment

  • Application for Payment The form acceptable to Owner that is to be used by the Contractor during the course of the Work in requesting payment from the Owner and that is to be accompanied by such supporting documentation as is required by the Contract Documents.

  • Applications for Payment 9.3.1 At least ten days before the date for each progress payment established in the State- Contractor Agreement, the Contractor shall submit to the Architect an itemized Application for Payment, notarized if required, supported by such data substantiating the Contractor's right to payment as the State or the Architect may require. The application for payment must, at a minimum, reflect retainage and the required waivers of lien and any other support documentation enumerated elsewhere in the Contract Documents.

  • Request for Payment A. Not more than once every thirty days the Consultant shall file its request for payment, accompanied by evidence satisfactory to the City justifying the request for payment, including a report of Work accomplished and tasks completed, and an itemization of Eligible Expenses with copies of receipts and invoices.

  • Procedure for Payment Whenever a payment for fractional Rights, Preferred Shares or Common Shares is to be made by the Rights Agent pursuant to this Agreement, the Company will (i) promptly prepare and deliver to the Rights Agent a certificate setting forth in reasonable detail the facts related to such payment and the prices or formulas utilized in calculating such payments; and (ii) provide sufficient monies to the Rights Agent to make such payments. The Rights Agent will be fully protected in relying upon such certificate and will have no duty with respect thereto, and will not be deemed to have knowledge of any payment for fractional Rights, Preferred Shares or Common Shares pursuant to this Agreement unless and until the Rights Agent has received such certificate and sufficient monies.

  • Time for Payment Interconnection Customer must provide the additional Security, in a form and with terms as required by Section 212.4, within 15 days after its receipt of Transmission Provider’s notice under this section. The requirement for additional Security under this section shall be treated as a milestone included in the Interconnection Service Agreement pursuant to Section 212.5.

  • Due date for payment The settlement date for each Tax Invoice issued by the Distributor must be the 20th day of the month in which the Tax Invoice is received, or if the 20th day of the month is not a Working Day, the first Working Day after the 20th day. However, if the Distributor fails to send a Tax Invoice to the Trader within 10 Working Days after the last day of the month to which the Tax Invoice relates, the due date for payment is extended by 1 Working Day for each Working Day that the Tax Invoice is late.

  • Scope of Application to Parties The Participating Generator and CAISO acknowledge that all Generators, except those specified in Section 2.2.1 of this Agreement, wishing to submit Bids to the CAISO through a Scheduling Coordinator must sign this Agreement in accordance with Section 4.6 of the CAISO Tariff.

  • Form of Application The Contractor shall periodically submit to the Design Professional an Application for Payment on the form set forth in Section 7 (sometimes called a "Periodical Estimate") for each payment requested, and, if requested by the Owner or Design Professional, shall attach backup materials including, but not limited to, receipts or other vouchers, showing his payments for materials and labor, including payments previously made to Subcontractors.

  • REQUESTS FOR PAYMENT Payments shall be made in accordance with Article I.4 of the Special Conditions.

  • Scope of Application Except as otherwise provided in this Agreement, the dispute settlement provisions of this Chapter shall apply with respect to the settlement of all disputes between the Parties regarding the interpretation or application of this Agreement, whenever a Party considers that the other Party has failed to carry out its obligations under this Agreement.

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