Late Payments and Interest. Should the Owner fail to pay a proper invoice within thirty calendar days of receipt, the Contractor shall notify the Owner in writing by certified or statutory mail. If the Owner fails to pay within five business days of receipt of the notice, the Contractor shall receive, in addition the sum named in the proper invoice, interest thereon at the rate of one half percent per month on the unpaid balance as may be due.
Appears in 26 contracts
Samples: Design Build Contract, Design Build Contract, Construction Management Contract
