Common use of Lump Sum or Unit Price Payment Method Clause in Contracts

Lump Sum or Unit Price Payment Method. When lump sum or unit prices will be used as a method of payment, Consultant will only be paid at completion of the milestone or acceptance of deliverables indicated in the Fee, Rate or Payment Schedule. If Consultant fails to satisfactorily complete a milestone or deliverable being paid for on a lump sum basis, no payment will be made until the deliverable has been satisfactorily completed. Partial payments on lump sums shall not be permitted.

Lump Sum or Unit Price Payment Method. When lump sum or unit prices will be used as a method of payment, Consultant will only be paid at completion of the milestone or acceptance of deliverables indicated in the Fee, Rate or Payment Schedule. If Consultant fails to satisfactorily complete a milestone or deliverable being paid for on a lump sum basisbasis to the specifications of the scope of work, no payment will be made until the deliverable has been satisfactorily completedcompleted to the specifications of the scope of work. Partial payments on lump sums shall not be permitted.