Common use of Owner’s Duty to Pay Clause in Contracts

Owner’s Duty to Pay. Owner has no duty to pay the Contractor except on receipt by ODR of: 1) a complete Application for Payment certified by A/E; 2) Contractor’s updated Work Progress Schedule; and 3) confirmation that Contractor’s record documentation at the Site is kept current Contractor has maintained and updated the Record Documents kept at the Site. 10.3.1 Payment for stored materials and/or equipment confirmed by Owner and A/E to be on-site or otherwise properly stored is limited to eighty-five (85) percent of the invoice price or eighty- five (85) percent of the scheduled value for the materials or equipment, whichever is less.