Hourly Rate. (i) The amounts payable are computed by multiplying the appropriate hourly rate, or rates, set forth in the Contract, by the number of direct labor hours performed, which rates shall include wages, overhead, general and administrative expenses and profit. Fractional parts of an hour shall be payable on a prorated basis. Invoices may be submitted once each month (or at more frequent intervals if approved by the Buyer) to the Buyer or Buyer’s designee. The Seller will substantiate invoices by evidence of actual payment, individual daily job timecards, or such other substantiation approved by the Buyer. Promptly after receipt of each substantiated invoice, the Buyer shall, except as otherwise provided in this Contract, and subject to the provisions of subparagraph e. below, make payment thereon as approved by the Buyer. (ii) Unless otherwise specified, the hourly rate or rates set forth in the Contract shall not be varied by virtue of the Seller having performed work on an overtime basis. If no overtime rates are provided in the Contract and the Buyer does not approve overtime work in advance, overtime is not authorized.
Appears in 7 contracts
Samples: Purchase Agreement, Purchase Agreement, Purchase Agreement
Hourly Rate. (i) The amounts payable are computed by multiplying the appropriate hourly rate, or rates, set forth in the Contract, by the number of direct labor hours performed, which rates shall include wages, overhead, general and administrative expenses and profit. Fractional parts of an hour shall be payable on a prorated basis. Invoices may be submitted once each month (or at more frequent intervals if approved by the Buyer) to the Buyer or Buyer’s designee. The Seller will substantiate invoices by evidence of actual payment, individual daily job timecards, or such other substantiation approved by the Buyer. Promptly after receipt of each substantiated invoice, the Buyer shall, except as otherwise provided in this Contract, and subject to the provisions of subparagraph e. below, make payment thereon as approved by the Buyer.
(ii) Unless otherwise specified, the hourly rate or rates set forth in the Contract shall not be varied by virtue of the Seller having performed work on an overtime basis. If no overtime rates are provided in the Contract and the Buyer does not approve overtime work in advance, overtime is not authorized.
Appears in 5 contracts
Samples: Purchase Agreement, Purchase Agreement, Purchase Agreement
