Common use of Items Permitted to be Deducted from Pay Applications Clause in Contracts

Items Permitted to be Deducted from Pay Applications. 15.3.1 The Owner shall be entitled to deduct amounts for the following items from any Application for Payment or from the Request for Final Payment submitted by the CM: 15.3.1. 1The fair market value of all tools, surplus materials, construction equipment, and temporary structures that were charged to the Work (other than rental items) but were not consumed during construction or retained by the Owner. Upon completion of the Work or when no longer required, CM shall either credit the Owner for the fair market value (as approved by the Owner) for all surplus tools, construction equipment and materials retained by the CM or, at Owner’s option, use commercially reasonable efforts to sell the surplus tools, construction equipment and materials for the highest available price and credit the proceeds to the Owner’s account. 15.3.1. 2Discounts earned by the CM through advance or prompt payments funded by the Owner. The CM shall obtain all possible trade and time discounts on bills for material furnished, and shall pay bills within the highest discount periods. The CM shall purchase materials for the Project in quantities that provide the most advantageous prices to the Owner. 15.3.1. 3Rebates, discounts, or commissions obtained by the CM from material suppliers or Subcontractors, together with all other refunds, returns, or credits received for materials, bond premiums, insurance and sales taxes.

Items Permitted to be Deducted from Pay Applications. 15.3.1 The Owner shall be entitled to deduct amounts for the following items from any Application for Payment or from the Request for Final Payment submitted by the CM: 15.3.1. 1The 15.3.1.1 The fair market value of all tools, surplus materials, construction equipment, and temporary structures that were charged to the Work (other than rental items) but were not consumed during construction or retained by the Owner. Upon completion of the Work or when no longer required, CM shall either credit the Owner for the fair market value (as approved by the Owner) for all surplus tools, construction equipment and materials retained by the CM or, at Owner’s option, use commercially reasonable efforts to sell the surplus tools, construction equipment and materials for the highest available price and credit the proceeds to the Owner’s account. 15.3.1. 2Discounts 15.3.1.2 Discounts earned by the CM through advance or prompt payments funded by the Owner. The CM shall obtain all possible trade and time discounts on bills for material furnished, and shall pay bills within the highest discount periods. The CM shall purchase materials for the Project in quantities that provide the most advantageous prices to the Owner. 15.3.1. 3Rebates15.3.1.3 Rebates, discounts, or commissions obtained by the CM from material suppliers or Subcontractors, together with all other refunds, returns, or credits received for materials, bond premiums, insurance insurance, and sales taxes. 15.3.1.4 Deposits made by Owner and forfeited due to the fault of the CM. 15.3.1.5 Balances remaining on any Allowances, the CM’s Contingency, or any other identified contract savings.

Items Permitted to be Deducted from Pay Applications. 15.3.1 The Owner shall be entitled to deduct amounts for the following items from any Application for Payment or from the Request for Final Payment submitted by the CM: 15.3.1. 1The fair market value of all tools, surplus materials, construction equipment, and temporary structures that were charged to the Work (other than rental items) but were not consumed during construction or retained by the Owner. Upon completion of the Work or when no longer required, CM shall either credit the Owner for the fair market value (as approved by the Owner) for all surplus tools, construction equipment and materials retained by the CM or, at Owner’s option, use commercially reasonable efforts to sell the surplus tools, construction equipment and materials for the highest available price and credit the proceeds to the Owner’s account. 15.3.1. 2Discounts earned by the CM through advance or prompt payments funded by the Owner. The CM shall obtain all possible trade and time discounts on bills for material furnished, and shall pay bills within the highest discount periods. The CM shall purchase materials for the Project in quantities that provide the most advantageous prices to the Owner. 15.3.1. 3Rebates, discounts, or commissions obtained by the CM from material suppliers or Subcontractors, together with all other refunds, returns, or credits received for materials, bond premiums, insurance and sales taxes. 15.3.1. 4Deposits made by Owner and forfeited due to the fault of the CM. 15.3.1. 5Balances remaining on any Allowances, the CM’s Contingency, or any other identified contract savings.

Items Permitted to be Deducted from Pay Applications. 15.3.1 The Owner shall be entitled to deduct amounts for the following items from any Application for Payment or from the Request for Final Payment submitted by the CM: 15.3.1. 1The 15.3.1.1 The fair market value of all tools, surplus materials, construction equipment, and temporary structures that were charged to the Work (other than rental items) but were not consumed during construction or retained by the Owner. Upon completion of the Work or when no longer required, CM shall either credit the Owner for the fair market value (as approved by the Owner) for all surplus tools, construction equipment and materials retained by the CM or, at Owner’s option, use commercially reasonable efforts to sell the surplus tools, construction equipment and materials for the highest available price and credit the proceeds to the Owner’s account. 15.3.1. 2Discounts 15.3.1.2 Discounts earned by the CM through advance or prompt payments funded by the Owner. The CM shall obtain all possible trade and time discounts on bills for material furnished, furnished and shall pay bills within the highest discount periods. The CM shall purchase materials for the Project in quantities that provide the most advantageous prices to the Owner. 15.3.1. 3Rebates15.3.1.3 Rebates, discounts, or commissions obtained by the CM from material suppliers or Subcontractors, together with all other refunds, returns, or credits received for materials, bond premiums, insurance and sales taxes. 15.3.1.4 Deposits made by Owner and forfeited due to the fault of the CM. 15.3.1.5 Balances remaining on any Allowances, the CM’s Contingency, or any other identified contract savings.