Overpayment by Client Agency Sample Clauses
The "Overpayment by Client Agency" clause defines the procedures and responsibilities when a client agency pays more than the amount due under a contract. Typically, this clause outlines how overpayments are identified, the timeframe and method for notifying the contractor, and the process for refunding or adjusting the excess amount. For example, if an agency mistakenly pays an invoice twice, the contractor may be required to promptly return the surplus funds or apply them as a credit to future invoices. The core function of this clause is to ensure financial accuracy and accountability, preventing disputes and facilitating the prompt correction of payment errors.
Overpayment by Client Agency. In the event that the Client Agency determines that a Contractor has received an overpayment, the Client Agency shall request the return of such overpayment from the Contractor and the Contractor shall provide a reimbursement of the overpayment within thirty