Interim and final payments Clause Samples
Interim and final payments. 2.1) The LP may request interim payments on six months basis after the starting date of the project implementation period provided that the respective expenditures are verified by controller/s.
2.2) As an exception from the provisions of paragraph 2.1 the LP may request interim payments on quarterly basis after the starting date of the project implementation period in accordance with article 7, paragraph 3 provided that the respective expenditures are verified by controller/s.
2.3) The LP may only request payments by providing proof of progress of the operation, as described in the Annex 1, through Progress reports submitted to the JS in accordance with the requirements of article 6.
2.4) The LP must submit to the MA the aggregated request for payment (in a model for Request for payment annexed to the Project Implementation Manual) and all supporting documents, not later than 5 (five) working days from the date of receipt of the documents proving verification of expenditures by controller/s.
2.5) The MА should verify the expenditures and transfer the established amount in 60 (sixty) days after receiving the request for payment in accordance with article 4, paragraph 2. In case of Appeal declaration, submitted by the LP with the request for payment, the process of reimbursement of funds for the total operation is to be suspended for further clarifications and taking of final decision by the MA.
2.6) The MA may suspend the period for payment in case a need for clarifications and/or additional information and documents arises. Suspension shall take effect on the date when the request is sent by the MA. The MA may send the request for clarifications and/or additional information and documents by post or by e-mail. The remaining payment period shall start to run again from the date when the clarifications and/or additional information and documents are received.
2.7) The LP transfers the received IPA co-financing to the respective partner/s and the Bulgarian national co-financing to the respective Bulgarian partner/s within 5 (five) working days/or within the period specified in Partnership agreement (Annex 2) as of receiving the amounts from the MA.
2.8) Total amount of the advance payment and interim payments cannot exceed 80 % of the total value of the subsidy.
2.9) The request for a final (balance) payment should be made by the LP after the project completion. In the request for final (balance) payment the LP should request for reimbursement the expenditure...
Interim and final payments. All payments allowed under this Grant and in Exhibit B shall comply with State Fiscal Rules and be made in accordance with the provisions of this Grant or such Exhibit based on cost reimbursement as specificed in §7.A., above. Grantee shall initiate any payment requests by submitting invoices to the State in the form and manner set forth and approved by the State.
Interim and final payments. All payments allowed under this Subgrant and in Exhibit B shall comply with State Fiscal Rules and be made in accordance with the provisions of this Subgrant or such Exhibit based on cost reimbursement as specified in §7.A., above. Subgrantee shall initiate any payment requests by submitting invoices to the State in the form and manner set forth and approved by the State (Exhibit C- 3). Grantee may request payments monthly; however, the reimbursement amount for each request shall be no less than $1,000 unless it is a request for final payment. Payments will be made on a reimbursement basis, based upon the Grantee’s submittal of receipts and cancelled checks to the State evidencing allowable expenditures by the Grantee for services and materials used in prosecution of the Project. Allowable expenditures shall be determined by the State. The State shall in all cases retain ten percent (10%) of the total available Sportfishing Funds until final inspection and approval of the completed project by authorized representatives of the State. Such payments shall also be subject to inspection and approval of the completed Work by authorized representatives of the State.
Interim and final payments. Any advance payment allowed under any Order issued by a State Agency against this Addendum shall comply with State Fiscal Rules and be made in accordance with the provisions of this Addendum and such Order. Non-State Ordering Entities may have their own fiscal procedures regarding advance payments, which may be agreed upon in writing between the non-State Ordering Entity and the Contractor.
Interim and final payments. 10.1 The Contractor’s organisation shall maintain an independent estimate & billing division. Contractor shall be responsible for working out the detailed quantities for various items of work, from the progressive drawings, released for construction, within two months from the date of receipt of drawings. Detailed bill of quantities along with the abstract shall be submitted to the Engineer for his approval. Increase or decrease in these approved quantities due to revision in drawings or due to Engineer’s instructions shall be incorporated by the Contractor and submitted to the Engineer for revised approval within 30 days from the receipt of revised drawings/instructions.
10.2 Bills are to be submitted in the format approved by the Owner/Engineer. Interim / Final bills shall be submitted on the basis of work completed against these approved quantities. Payment will be released by the Owner on verification of work completed against these approved quantities. No other method for billing shall be accepted by the Owner. Each bill shall be submitted along with the detailed measurement sheets, pour cards, reconciliation statements for all the materials issued by the Owner.
10.3 R.A bill shall be monthly and in computerised format prepared in Microsoft-EXCEL. The bills shall be error free and accompany all the supporting documents like JMRs, quality related documents, pour card, etc. The bill shall be submitted in soft copy (non-rewritable CDs) also.
10.4 Any interim payments shall be regarded as payments by way of advance against the final payment only and not as payments for work actually done and completed and shall not preclude the right of OWNER/ ENGINEER from getting bad, unsound and imperfect or unskilled work to be removed and reconstructed by the CONTRACTOR or be considered as an admission of the due performance of the Contract or any part thereof in any respect or the accruing of any claim nor shall it conclude, determine or affect in any way the powers of OWNER/ENGINEER under these conditions or any of them as to the final settlement and adjustment of the payment or otherwise, or in any other way vary or affect the Contract.
10.5 A bill shall be submitted by the CONTRACTOR each month on or before the date fixed by the OWNER for all works executed in the previous month and OWNER shall take or cause to be taken the requisite measurement for the purpose of having the same verified. If the CONTRACTOR does not submit the bill within the time fixed as afores...