Interest on Outstanding Amounts Due. Interest shall accrue on amounts owed by the Owner to the DB in accordance with the provisions of the Florida Local Government Prompt Payment Act, Chapter 218, Florida Statutes.
Interest on Outstanding Amounts Due. To the extent allowed by Chapter 218, Florida Statutes, interest will accrue on amounts owed by the County to the Construction Manager which remain unpaid thirty (30) calendar days following the date on which payment is due. No interest will accrue when payment is delayed because of a dispute between the County and the Construction Manager, or a dispute as to the accuracy or completeness of any request for payment received. This exception to the accrual of interest will apply only to that portion of a delayed payment which is actually the subject of the dispute and will apply only for the duration of such disagreement. Interest will accrue on retainage which is withheld to assure performance of this Agreement.
Interest on Outstanding Amounts Due. To the extent allowed by Chapter 218, Florida Statutes, interest shall accrue on amounts owed by the Owner to the Construction Manager which remain unpaid thirty (30) calendar days following the date on which payment is due.
Interest on Outstanding Amounts Due. To the extent allowed by Chapter 218, Fla. Stat., interest will accrue on amounts owed by the COUNTY to the CONTRACTOR which remain unpaid for the time specified in the statutes. Example No interest will accrue when payment is delayed because of a dispute between the COUNTY and the CONTRACTOR, or a dispute as to the accuracy or completeness of any request for payment received. This exception to the accrual of interest will apply only to that portion of a delayed payment which is the subject of the dispute and will apply only for the duration of such disagreement. ITB 24-405 5.8 Payment/Performance Bond Requirements. Pursuant to Section 255.05, Fla. Stat. CONTRACTOR must provide a Performance and Payment Bond or irrevocable letter of credit in an amount that represents 100% of the contract price. The Performance and Payment Bond Form supplied by the COUNTY will be the only acceptable form for these bonds. No other form will be accepted. Bond information and forms are attached hereto and incorporated herein as Exhibit . In the event the CONTRACTOR defaults on the construction, the COUNTY shall utilize the payment and performance bond or letter of credit to complete the work.
Interest on Outstanding Amounts Due. Interest shall accrue on amounts owed by the Owner to the Construction Manager which remain unpaid thirty calendar days following the date on which payment is due. Said interest shall accrue at the discounted ninety-day U.S. Treasury bill rate as established by the Weekly Auction and as reported in The Wall Street Journal on the weekday following each such Weekly Auction.
