Common use of Initial Breakdown and Periodic Payments Clause in Contracts

Initial Breakdown and Periodic Payments. If payments are made on valuation of work done, such application shall be submitted at least ten days before each payment falls due. Before the first application, the CMR shall submit to the Design Professional and Program Manager a schedule of values of the various parts of the work, including quantities, aggregating the total sum of the contract, divided in such manner as to facilitate payments to Trade Contractors, Suppliers, and subcontractors, on a form to be furnished by the Board with a complete breakdown of the Lump Sum Price so arranged and so itemized as to meet the approval of the Design Professional and Board and, if requested, supported by such evidence as to its correctness as the Design Professional and Board may direct. The schedule, designated herein the "initial breakdown" (specimen of which will be supplied on request), when approved by the Design Professional and Board, shall be used as a basis for certificates of payment unless it be found to be in error. In applying for payments, the CMR shall submit a statement based upon this schedule on the periodical estimate form and, if requested by the Design Professional and Board, said statement shall be itemized in such form and supported by such evidence as the Design Professional and or Board may direct, showing the CMR’s right to the payment claimed on the periodical estimate.

Initial Breakdown and Periodic Payments. If payments are made on valuation of work done, such application shall be submitted at least ten days before each payment falls due. Before the first application, the CMR CM/GC shall submit to the Design Professional and Program Manager a schedule of values of the various parts of the work, including quantities, aggregating the total sum of the contract, divided in such manner as to facilitate payments to Trade Contractors, Suppliers, and subcontractors, on a form to be furnished by the Board Owner with a complete breakdown of the Lump Sum Price so arranged and so itemized as to meet the approval of the Design Professional and Board Program Manager and, if requested, supported by such evidence as to its correctness as the Design Professional and Board Program Manager may direct. The schedule, designated herein the "initial breakdown" (specimen of which will be supplied on request), when approved by the Design Professional and BoardProgram Manager, shall be used as a basis for certificates of payment unless it be found to be in error. In applying for payments, the CMR CM/GC shall submit a statement based upon this schedule on the periodical estimate form and, if requested by the Design Professional and BoardProgram Manager or Owner, said statement shall be itemized in such form and supported by such evidence as the Design Professional and Program Manager or Board Owner may direct, showing the CMR’s CM/GC‟s right to the payment claimed on the periodical estimate.