Common use of PAYMENT AND AUDIT Clause in Contracts

PAYMENT AND AUDIT. 7.1 The Company shall advise the Contractor of errors, or variations from the requirements of the Agreement, and of defects in the Work, but it is expressly agreed that any omission on the Company’s part to point out any such errors, variations, or defects or to provide any instructions or explanations will not give the Contractor any right or claim against the Company, and shall not in any way relieve the Contractor from its obligation to provide the Work in accordance with the Agreement. 7.2 Upon receipt of written notice from the Contractor that Work is completed and ready for inspection and acceptance, or as soon thereafter as may be convenient in light of the Emergency, the Company shall inspect the Work and determine if such Work has been fully performed in accordance with the terms and conditions of the Agreement. 7.3 If the Company determines the Work is not complete, its written notice of rejection shall include a list of items that the Contractor shall finish in order for the Work to be complete under the terms and conditions of the Agreement. The Contractor shall promptly provide for the Company’s review and approval a schedule detailing when all defects will be corrected and/or the Work completed. Upon approval by the Company, the Contractor shall remedy such defective and incomplete portions of the Work. The steps in Sections 7.2 and this Section 7.3 shall be repeated until the Company accepts the Work as complete and so notifies the Contractor of its acceptance. 7.4 Upon the Contractor’s satisfactory fulfillment of the requirements related to the Work, the Company will notify the Contractor of its acceptance of the Work (“Acceptance”). 7.5 Acceptance of the payment with regard to a particular piece of Work shall constitute a waiver of all claims by the Contractor related to such piece of work.

PAYMENT AND AUDIT. 7.1 The Company shall advise the Contractor of errors, or variations from the requirements of the Agreement, and of defects in the Work, but it is expressly agreed that any omission on the Company’s part to point out any such errors, variations, or defects or to provide any instructions or explanations will not give the Contractor any right or claim against the Company, and shall not in any way relieve the Contractor from its obligation to provide the Work in accordance with the Agreement. 7.2 Upon receipt of written notice from the Contractor that Work is completed and ready for inspection and acceptance, or as soon thereafter as may be convenient in light of the Emergency, the Company shall inspect the Work and determine if such Work has been fully performed in accordance with the terms and conditions of the Agreement. 7.3 If the Company determines the Work is not complete, its written notice of rejection shall include a list of items that the Contractor shall finish in order for the Work to be complete under the terms and conditions of the Agreement. The Contractor shall promptly provide for the Company’s review and approval a schedule detailing when all defects will be corrected and/or the Work completed. Upon approval by the Company, the Contractor shall remedy such defective and incomplete portions of the Work. The steps in Sections 7.2 and this Section 7.3 shall be repeated until the Company accepts the Work as complete and so notifies the Contractor of its acceptance. 7.4 Upon the Contractor’s satisfactory fulfillment of the requirements related to the Work, the Company will notify the Contractor of its acceptance of the Work (“Acceptance”). 7.5 Acceptance of the payment with regard to a particular piece of Work shall constitute a waiver of all claims by the Contractor related to such piece of work.