Common use of Payment for Change Orders Clause in Contracts

Payment for Change Orders. 5.3.1 Payments for Change Orders shall not become due and payable to the Contractor until: 5.3.1.1 the Contractor has performed the Change Order Work to the full satisfaction of the Owner; 5.3.1.2 the Contractor has submitted a complete and fully executed Change Order Form that sets forth the Contractor’s agreement to and acceptance of the Change Order including, without limitation, the value and scope of the Change Order Work (Appendix F7) or such other form as may be acceptable to the Owner, plus any other documentation the Owner may require. 5.3.1.3 The Contractor shall submit the Change Order Form to the Owner’s Accounts Payable Department with the next succeeding Progress Payment Requisition submitted by the Contractor after completion of the Change Order Work. 5.3.2 The Owner may, in its sole discretion, make payments to the Contractor on account of any Change Order Work before the Change Order Work is complete, but payment will be limited to no more than eighty (80%) percent of the total cost of the Change Order Work completed to date, exclusive of any and all mark-ups for Profit and Additional Costs, provided that a Change Order Form for the full price of the Change Order Work has been signed by all Parties. The balance of such payments shall be made upon completion of the Change Order Work to the full satisfaction of the Owner.

Payment for Change Orders. 5.3.1 Payments for Change Orders shall not become due and payable to the Contractor until: 5.3.1.1 the Contractor has performed the Change Order Work to the full satisfaction of the Owner; 5.3.1.2 the Contractor has submitted a complete and fully executed Change Order Form that sets forth the Contractor’s agreement to and acceptance of the Change Order including, without limitation, the value and scope of the Change Order Work (Appendix F7) or such other form as may be acceptable to the Owner, plus any other documentation the Owner may require. 5.3.1.3 The Contractor shall submit the Change Order Form to the Owner’s Accounts Payable Department with the next succeeding Progress Payment Requisition submitted by the Contractor after completion of the Change Order Work. 5.3.2 The Owner may, in its sole discretion, make payments to the Contractor on account of any Change Order Work before the Change Order Work is complete, but payment will be limited to no more than eighty (80%) percent of the total cost of the Change Order Work completed to date, exclusive of any and all mark-ups for Profit and Additional Costs, provided that a Change Order Form for the full price of the Change Order Work has been signed by all Parties. The balance of such payments shall be made upon completion of the Change Order Work to the full satisfaction of the Owner.