Payments to the Engineer. 6.1 Progress payments shall be made in proportion to services rendered or as otherwise indicated within this Agreement and shall be due and owing upon the ENGINEER's submittal of any invoice. Past due amounts owed shall include a late payment Finance Charge which will be computed at the periodic rate of 1% per month, which is an Annual Percentage Rate of 12%, and will be applied to any unpaid balance 30 days after the date of the original invoice.
Appears in 5 contracts
Samples: Agreement Between Client and Engineer for Professional Services, Agreement Between Client and Engineer for Professional Services, Agreement Between Client and Engineer for Professional Services
