Common use of Payment of Contract Price Clause in Contracts

Payment of Contract Price. 3.1 The Purchaser shall pay to the Supplier fees and expenses at the rate or lump sum specified in the Supplier’s Pricing Schedule. 3.2 Where the Specification of Requirement provides for expenses to be paid in addition to fees, the Supplier shall be entitled to be reimbursed by the Purchaser only for expenses reasonably and properly incurred by the Supplier in the performance of the duties hereunder, subject to production of such evidence thereof as the Purchaser may reasonably require. 3.3 Unless otherwise stated in the Contract, payment will be made within 30 days of receipt and agreement of invoices, submitted monthly in arrears, for Goods supplied to the satisfaction of the Purchaser. 3.4 Value Added Tax, where applicable, shall be shown separately on all invoices as a strictly net extra charge. All invoices for payment of Goods supplied must contain the level of detail required for a Value Added tax invoice, whether or not VAT is due on that invoice. 3.5 Invoices for payment of Goods supplied may not be submitted in advance of delivery without the express written agreement of the Purchaser’s Contract manager. Any invoice submitted in breach of this requirement will require to be cancelled and re- submitted in proper order. 3.6 All invoices for Goods supplied must contain or be supported and accompanied by sufficient supply information to allow for immediate and easy verification for the period concerned against the Contract prices and terms. In the case of complex supply and/or pricing arrangements, the form, content and timing of invoice and supporting information submission shall be agreed between the parties before commencement of supply and kept under review. 3.7 Notwithstanding Condition 17 of this Contract the Supplier may assign to another person (an "assignee") the right to receive payment of the Price or any part thereof due to the Supplier under this Contract subject to (i) deduction of sums in respect of which the Purchaser exercises the right of recovery under Condition 15 of this Contract and (ii) all the related rights of the Purchaser under this Contract in relation to the recovery of sums due but unpaid. The Supplier shall notify or procure that any assignee notifies the Purchaser of any variations to the arrangements for payment of the Price or for handling invoices, in each case in good time to enable the Purchaser to redirect payments or invoices accordingly. In the absence of such notification the Purchaser shall be under no obligation to vary the arrangements for payment of the Price or for handling invoices.

Payment of Contract Price. 3.1 The Purchaser shall pay to the Supplier fees and expenses at the rate or lump sum specified in the Supplier’s Pricing Schedule. 3.2 Where the Specification of Requirement provides for expenses to be paid in addition to fees, the Supplier shall be entitled to be reimbursed by the Purchaser only for expenses reasonably and properly incurred by the Supplier in the performance of the duties hereunder, subject to production of such evidence thereof as the Purchaser may reasonably require. 3.3 Unless otherwise stated in the Contract, payment Payment on this project will be made within 30 days following the payment provisions outlined in Section 108 – Payment found in the Maine Department of receipt and agreement Transportation, Standard Specifications, November 2014 Edition as amended. The bidder will need to provide a schedule of invoices, submitted monthly in arrears, for Goods supplied values to the satisfaction Department prior to an award being made. This schedule will be reviewed and approved by the Department at the time of the Purchaser. 3.4 Value Added Taxaward and will form the basis from which to make progress payments on the project. The schedule of Values should have sufficient detail to cover all major components or areas of construction for the vessel as well as provide an amount for mobilization, where applicable, shall be shown separately on all invoices as a strictly net extra chargebonds and insurance. All areas listed should be measurable and may require receipt of invoices at time of payment for materials and equipment. It is proposed to make payments on a monthly basis, unless the amount of work warrants a quicker schedule and it is agreed to by the Department. Payments will not be done more frequently than twice a month. The making of partial payments shall in no way prevent OWNER or the OWNER’s Representative from asserting any right or remedy accruing to them under this Agreement because of the failure of CONTR to perform the work or deliver the completed Vessel in accordance with the terms of this Agreement. When the CONTR considers that an installment payment is about to fall due, he will give the OWNER fourteen (14) days notice thereof. The CONTR will then prepare an invoice, addressed to the OWNER and OWNER's Representative who will, on being satisfied that the relevant work has been completed, certify the same for payment of Goods supplied must contain and promptly advise the level of detail required OWNER accordingly. The OWNER will settle process the invoice for a Value Added tax invoice, whether or not VAT is payment. All payments made by the OWNER to the CONTR are so made strictly on the condition that all sums due on that invoice. 3.5 Invoices for payment of Goods supplied may not be submitted in advance of delivery without by the express written agreement of the Purchaser’s Contract managerCONTR to its suppliers and subcontractors are promptly and fully paid. Any invoice submitted in breach of this requirement will require to be cancelled and re- submitted in proper order. 3.6 All invoices for Goods supplied must contain or be supported and accompanied by sufficient supply information to allow for immediate and easy verification for the period concerned against the Contract prices and terms. In the case of complex supply and/or pricing arrangements, the form, content and timing of invoice and supporting information submission shall be agreed between the parties before commencement of supply and kept under review. 3.7 Notwithstanding Condition 17 of this Contract the Supplier may assign to another person (an "assignee") OWNER reserves the right to receive payment request executed waivers of liens and other claims of any or all such suppliers and subcontractors as a condition of making any of the Price or any part thereof due to the Supplier under this Contract subject to (i) deduction of sums in respect of which the Purchaser exercises the right of recovery under Condition 15 of this Contract and (ii) all the related rights of the Purchaser under this Contract in relation to the recovery of sums due but unpaid. The Supplier shall notify or procure that any assignee notifies the Purchaser of any variations to the arrangements for payment of the Price or for handling invoices, in each case in good time to enable the Purchaser to redirect payments or invoices accordingly. In the absence of such notification the Purchaser shall be under no obligation to vary the arrangements for payment of the Price or for handling invoicesrequired payments.

Payment of Contract Price. 3.1 9.1 The Purchaser shall pay to the Supplier fees and expenses at the rate or lump sum specified in the Supplier’s Pricing Schedule. 3.2 9.2 Where the Specification of Requirement provides for expenses to be paid in addition to fees, the Supplier shall be entitled to be reimbursed by the Purchaser only for expenses reasonably and properly incurred by the Supplier in the performance of the duties hereunder, subject to production of such evidence thereof as the Purchaser may reasonably require. 3.3 9.3 Unless otherwise stated in the Contract, payment will be made within 30 days of receipt and agreement of invoices, submitted monthly in arrears, for Goods supplied Services completed to the satisfaction of the Purchaser. 3.4 9.4 Value Added Tax, where applicable, shall be shown separately on all invoices as a strictly net extra charge. All invoices for payment of Goods supplied Services rendered must contain the level of detail required for a Value Added tax invoice, whether or not VAT is due on that invoice. 3.5 9.5 Invoices for payment of Goods supplied Services rendered may not be submitted in advance of delivery without the express written agreement of the Purchaser’s Contract manager. Any invoice submitted in breach of this requirement will require to be cancelled and re- re-submitted in proper order. 3.6 9.6 All invoices for Goods supplied Services rendered must contain or be supported and accompanied by sufficient supply information to allow for immediate and easy verification for the period concerned against the Contract prices and terms. In the case of complex supply and/or pricing arrangements, the form, content and timing of invoice and supporting information submission shall be agreed between the parties before commencement of supply and kept under review. 3.7 9.7 Notwithstanding Condition 17 19 of this Contract the Supplier may assign to another person (an "assignee") the right to receive payment of the Price or any part thereof due to the Supplier under this Contract subject to (i) deduction of sums in respect of which the Purchaser exercises the right of recovery under Condition 15 18 of this Contract and (ii) all the related rights of the Purchaser under this Contract in relation to the recovery of sums due but unpaid. The Supplier shall notify or procure that any assignee notifies the Purchaser of any variations to the arrangements for payment of the Price or for handling invoices, in each case in good time to enable the Purchaser to redirect payments or invoices accordingly. In the absence of such notification the Purchaser shall be under no obligation to vary the arrangements for payment of the Price or for handling invoices.

Payment of Contract Price. 3.1 The Purchaser shall pay to the Supplier fees and expenses at the rate or lump sum specified in the Supplier’s Pricing Schedule. 3.2 Where the Specification of Requirement provides for expenses to be paid in addition to fees, the Supplier shall be entitled to be reimbursed by the Purchaser only for expenses reasonably and properly incurred by the Supplier in the performance of the duties hereunder, subject to production of such evidence thereof as the Purchaser may reasonably require. 3.3 Unless otherwise stated in the Contract, payment will be made within 30 days of receipt and agreement of invoices, submitted monthly in arrears, for Goods supplied and Services rendered to the satisfaction of the Purchaser. 3.4 Value Added Tax, where applicable, shall be shown separately on all invoices as a strictly net extra charge. All invoices for payment of Goods supplied and Services rendered must contain the level of detail required for a Value Added tax invoice, whether or not VAT is due on that invoice. 3.5 Invoices for payment of Goods supplied and Services rendered may not be submitted in advance of delivery without the express written agreement of the Purchaser’s Contract manager. Any invoice submitted in breach of this requirement will require to be cancelled and re- re-submitted in proper order. 3.6 All invoices for Goods supplied and Services rendered must contain or be supported and accompanied by sufficient supply information to allow for immediate and easy verification for the period concerned against the Contract prices and terms. In the case of complex supply and/or pricing arrangements, the form, content and timing of invoice and supporting information submission shall be agreed between the parties before commencement of supply and kept under review. 3.7 Notwithstanding Condition 17 of this Contract the Supplier may assign to another person (an "assignee") the right to receive payment of the Price or any part thereof due to the Supplier under this Contract subject to (i) deduction of sums in respect of which the Purchaser exercises the right of recovery under Condition 15 of this Contract and (ii) all the related rights of the Purchaser under this Contract in relation to the recovery of sums due but unpaid. The Supplier shall notify or procure that any assignee notifies the Purchaser of any variations to the arrangements for payment of the Price or for handling invoices, in each case in good time to enable the Purchaser to redirect payments or invoices accordingly. In the absence of such notification the Purchaser shall be under no obligation to vary the arrangements for payment of the Price or for handling invoices.

Payment of Contract Price. 3.1 The Purchaser Contract Price includes, among other things, a Development Fee payable to Kirco. The Contract Price (including the Development Fee) shall pay to the Supplier fees and expenses at the rate or lump sum specified in the Supplier’s Pricing Schedule. 3.2 Where the Specification of Requirement provides for expenses to be paid in addition to fees, the Supplier shall be entitled to be reimbursed full upon (i) Substantial Completion of Kirco's work and receipt by Owner of a temporary certificate of occupancy issued by the Purchaser only for expenses reasonably and properly incurred City of Southfield, (ii) a Certificate of Substantial Completion or similar documented acknowledgment by the Supplier in the performance Architect, and (iii) completion of the duties hereunder, subject to production of such evidence thereof as the Purchaser may reasonably require. 3.3 Unless otherwise stated in the Contract, payment will be made within 30 days of receipt and agreement of invoices, submitted monthly in arrears, for Goods supplied Improvements to the satisfaction of the Purchaser. 3.4 Value Added Taxpermanent Mortgage lender, where applicableprovided, if Owner's Permanent lender is not prepared to close and fund the permanent loan, and pay the balance due to Kirco, within thirty (30) days after satisfaction of the requirements of clauses (i) and (ii), Owner shall make the full payment to Kirco within thirty (30) days after satisfaction of the requirements of clauses (i) and (ii). If and to the extent Owner has not utilized the full tenant improvement or other allowances included in the Contract Price, as set forth in the budget, the unused portion shall be shown separately on all invoices as credited toward Owner's payment obligations to Kirco at the time of full payment. If at any time a strictly net extra charge. All invoices for payment lien is recorded with respect to the project site or premises, by anyone claiming amounts due from Kirco or Kirco's suppliers and subcontractors, Kirco shall have thirty (30) days after written notice of Goods supplied must contain the level of detail required for a Value Added tax invoice, whether or not VAT is due on that invoice. 3.5 Invoices for payment of Goods supplied may not be submitted in advance of delivery without the express written agreement recordation of the Purchaser’s Contract managerlien to obtain a discharge of the claim of lien by payment or to post a bond discharging the lien in accordance with the Construction Lien Act or to escrow the funds necessary to pay the claimant with the title company. Any invoice submitted in breach Upon failure of this requirement will require Kirco to be cancelled and re- submitted in proper order. 3.6 All invoices for Goods supplied must contain or be supported and accompanied by sufficient supply information to allow for immediate and easy verification for the period concerned against the Contract prices and terms. In the case of complex supply and/or pricing arrangementsdo either, the form, content and timing of invoice and supporting information submission Owner at its discretion shall be agreed between the parties before commencement of supply and kept under review. 3.7 Notwithstanding Condition 17 of this Contract the Supplier may assign to another person (an "assignee") have the right to receive discharge the claim of lien and deduct from the Contract Price the amount paid to discharge the lien plus a reasonable amount for Owner's administrative time, not to exceed ten percent (10%) of the amount paid to discharge the lien. Kirco shall at all times comply with the requirements of the Construction Lien Act with respect to the payment of subcontracting and material suppliers. If Owner fails to make full payment of the Contract Price or any part thereof due within thirty (30) days after the date of Substantial Completion, as provided above, interest shall accrue on the Contract Price at an annual rate equal to 200 basis points over the Supplier under this Contract subject to (i) deduction prime rate of sums Bank One, N.A., in respect of which effect during the Purchaser exercises period that the right of recovery under Condition 15 of this Contract and (ii) all the related rights balance of the Purchaser under this Contract Price remains unpaid, calculated on a per diem basis for each day after the thirtieth (30th) day following substantial completion until paid in relation to the recovery of sums due but unpaid. The Supplier shall notify or procure that any assignee notifies the Purchaser of any variations to the arrangements for payment of the Price or for handling invoices, in each case in good time to enable the Purchaser to redirect payments or invoices accordingly. In the absence of such notification the Purchaser shall be under no obligation to vary the arrangements for payment of the Price or for handling invoicesfull.