Method of Payment and Invoicing. Prohibition against advanced payments: The District cannot make advanced payment to the contractor. Accordingly, payment to the contractor must be made by the District after deliverables are received and accepted by the District. For continuing services, the District will make payment to the contractor on a pro-rata basis for the period of service for the base term left after the contractor starts the service. For example, since the Help Desk will start twelve (12) weeks after award of the definitized contract, the fixed price of $390,687 will be spread over the nine (9) remaining months of the first year.
6.1 Part 1,
Method of Payment and Invoicing. The Department shall provide payment to the Vendor in accordance with the Vendor’s proposal sheet and the Pricing Schedules in Forms F through M in Appendix K of this RFP. Payment shall be made monthly for the Department-approved Vendor staff hours worked and tasks/deliverables/requirements received and approved (as specified in Price Schedule II). The Vendor shall submit one invoice to the Project Manager and one invoice to Xxxxx Xxxxxxx, Department Accountant, on a monthly basis for approved services and deliverables rendered to the Department in the previous month. Properly submitted invoices shall be paid within [ ] days of receipt. [note: It did not state a payment period. May one be stated? E.g. is one dictated by law?] Each monthly invoice shall have a cover letter/memo addressed to the Project Manager printed on the Vendor’s company letterhead. Attached to the Vendor’s letter/memo shall be the Vendor’s invoice. The invoice shall contain summary level descriptions of each invoiced line item. All Vendor staff signed timesheets for the billing period must be attached to the invoice. The Vendor’s staff resource and the Vendor’s Project Lead must sign each Vendor staff’s timesheet. Items appearing on the monthly Vendor’s invoice must be line items identified as part of this contract, invoiced according to the Vendor’s fixed quoted price for deliverables and a computed summary level cost for the Vendor’s staff hours worked based upon the Vendor’s quoted Rate Per Hour for each staff member multiplied by the actual hours worked. The total accumulated hours for each Vendor staff resource must not exceed the total hours quoted for each staff resource by the Vendor in their proposal response. One full copy of the invoice documentation (cover letter, invoice, and timesheets) shall also be provided to the Project Manager. During the life of the Contract for this RFP, payment of 90 percent of the amount proposal per task/deliverable/requirement will be paid to the Vendor following XXX’x approval of tasks/deliverables/requirements for services rendered with the exceptions noted below. The Department will retain an amount equal to 10 percent of each task/deliverable/requirement cost (withholding) which will be paid to the Vendor at the successful completion of all tasks. The Awarded Vendor’xxxxx acceptance of the system (as defined below). [note: This more clearly defines the holdback term to both parties’ benefit] Vendor‘s monthly invoices must show the 10 percen...
Method of Payment and Invoicing. 1) All invoices shall be on the approved invoice template.
2) If total costs are expected to be less than the amount listed in the invoice, contractor will only invoice for the actual costs.
