METHOD OF PAYING Sample Clauses
The "Method of Paying" clause defines the procedures and acceptable forms for making payments under a contract. It typically specifies whether payments will be made by check, wire transfer, electronic funds transfer, or other means, and may outline requirements such as payment addresses, account details, or timing of payments. This clause ensures both parties have a clear understanding of how and where payments should be made, reducing the risk of disputes or delays due to payment method confusion.
METHOD OF PAYING. SUBCONTRACTORS (General Laws, Chapter 30, Section 39F as most recently amended by Chapter 450, §76 of the Acts of 1996)
METHOD OF PAYING. SUBCONTRACTORS (General Laws, Chapter 30, Section 39F as most recently amended by Chapter 450, §76 of the Acts of 1996)
(1.) Every contract awarded pursuant to section forty-four A to L, inclusive, of chapter one hundred and forty-nine shall contain the following subparagraphs (a) through (i) and every contract awarded pursuant to section thirty-nine M of chapter thirty shall contain the following subparagraphs (a) through (h) and in each case those subparagraphs shall be binding between the general contractor and each subcontractor.
(a) Forthwith after the general contractor receives payment on account of a periodic estimate, the general contractor shall pay to each subcontractor the amount paid for the labor performed and the materials furnished by the subcontractor, less any amount specified in any court proceedings barring such payment and also less any amount claimed due from the subcontractor by the general contractor.
(b) Not later than the sixty-fifth day after each subcontractor substantially completes his work in accordance with the plans and specifications, the entire balance due under the subcontract less amounts retained by the awarding authority as the estimated cost of completing the incomplete and unsatisfactory items of work, shall be due the subcontractor; and the awarding authority shall pay that amount to the general contractor. The general contractor shall forthwith pay to the subcontractor the full amount received from the awarding authority less any amount specified in any court proceedings barring such payment and also less any amount claimed due from the subcontractor by the general contractor.
(c) Each payment made by the awarding authority to the general contractor pursuant to subparagraphs (a) and (b) of this paragraph for the labor performed and the materials furnished by a subcontractor shall be made to the general contractor for the account of that subcontractor, and the awarding authority shall take reasonable steps to compel the general contractor to make each such payment to each such subcontractor. If the awarding authority has received a demand for direct payment from a subcontractor for any amount which has already been included in a payment to the general contractor or which is to be included in a payment to the general contractor for payment to the subcontractor as provided in subparagraphs (a) and (b), the awarding authority shall act upon the demand as provided in this section.
(d) If, within seventy days after the ...
METHOD OF PAYING. Regular pay days shall be every second Thursday during the term of this agreement. Part time employees within the Bargaining Unit will be paid the same of the salary rates set out in Schedule as their hours worked in a pay period bear to full time employment, Such employees shall also be entitled to receive the same shift premium as are full time employees.
METHOD OF PAYING. Regular pay days shall be every second Thursday during the term of this agreement.