LUMP SUM FEE CALCULATION Sample Clauses

LUMP SUM FEE CALCULATION. The lump sum fee is determined and agreed between the Parties on signing the Agreement, on the basis of the estimation by the Architect of the time spent that takes into account: - the complexity of the project such that s/he could appraise from the project brief and information provided by the Client - the scope and extent of the Appointment that s/he is confided, and - her/his practice hourly rate. Direct expenses and any specific disbursements are added to this fee as defined in clause C 5.6, unless special provision in Memorandum of Agreement. In the event of financial penalties under the provisions of clause C 5.4, the penalty amount is deducted from the lump sum fee. The fee amount is revised under the provisions in clause C 5.2 and re-evaluated under the circumstances and the provisions stipulated in clause C 5.7. In the event of abandon of the Appointment, the fees due are calculated based on the value of the services recorded in the Fee Schedule of the Memorandum of Agreement, and their advancement. If necessary, the fee amount is increased by the compensation stipulated in clauses C 9.1.2 and C 9.3.
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Related to LUMP SUM FEE CALCULATION

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  • Lump Sum Payment Upon award of the contract for this improvement, the LA will pay to the STATE, in lump sum, an amount equal to 80% of the LA’s estimated obligation incurred under this Agreement, and will pay to the STATE the remainder of the LA’s obligation (including any nonparticipating costs) in a lump sum, upon completion of the project based upon final costs. Method B - Monthly Payments. Upon award of the contract for this improvement, the LA will pay to the STATE, a specified amount each month for an estimated period of months, or until 80% of the LA’s estimated obligation under the provisions of the Agreement has been paid, and will pay to the STATE the remainder of the LA’s obligation (including any nonparticipating costs) in a lump sum, upon completion of the project based upon final costs.

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  • Interest on Late Payments a. State Agencies The payment of interest on certain payments due and owed by Agency may be made in accordance with Article 11-A of the State Finance Law (SFL §179-d et. Seq.) and Title 2 of the New York Code of Rules and Regulations, Part 18 (Implementation of Prompt Payment Legislation -2 NYCRR §18.1 et seq.).

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