Procurement/Payment Terms/Method Sample Clauses
The Procurement/Payment Terms/Method clause defines how and when payments will be made for goods or services procured under the agreement. It typically outlines the accepted payment methods, such as bank transfer or credit card, and specifies the timing of payments, like upon delivery or within a set number of days after invoicing. This clause ensures both parties have a clear understanding of financial obligations, reducing the risk of disputes over payment timing or method.
Procurement/Payment Terms/Method. The selected FSMC shall invoice SFA at the end of each month for amounts due based on on-site records. The SFA shall make payments within 30 business days of the invoiced date. Upon termination of the awarded contract, all outstanding amounts shall immediately become due and payable. This RFP specifies the meal price structure as a maximum flat price per meal. The maximum flat price per meal includes the allowable direct costs of the preparation and service of the reimbursable meals including food, labor, and other expenses. SFA’s must use this FSMC Fixed Price Prototype Contract for fixed price proposals in order to be eligible for reimbursement under USDA Child Nutrition Programs. Any changes to the prototype contract must be reviewed by USBE prior to execution of the awarded contract.
Procurement/Payment Terms/Method. The FSMC shall invoice SFA at the end of each month for amounts due based on on-site records. The SFA shall make payments within _30 business days of the invoiced date. Upon termination of the Agreement, all outstanding amounts shall immediately become due and payable. This sample specifies the meal fee structure as a maximum flat fee per meal. The maximum flat fee per meal includes the allowable direct costs of the preparation and service of the reimbursable meals including food, labor, and other expenses. The final contract must be approved by the State Agency prior to execution. Any amendment of this contract must be approved by State Agency prior to execution. determined by the SFA. The method of determining the donated food values that will be used in crediting in accordance with 7 CFR 250.51(c), or the actual donated food values must be included in the bid and contract documents. The fixed price per meal/lunch equivalent may be subject to an annual escalator provision as stipulated in this contract by the SFA. Adjustment factors may include changes in federal reimbursement rates, changes in third–party cost or price indices. Annual Escalator Adjustment Factor: _Consumer Price Index Midwest Consumers Food Away from Home Seasonally Adjusted Proposals will be evaluated by a committee against the following criteria with assigned weights in the following categories. Each area of the award criteria must be addressed in detail in the proposal. The SFA must assign the weights for the criteria. 15 points Experience, References 5 points Innovation 5 points Involvement of Students, Staff and Patrons 15 points Menu and Portion Sizes (if the 21 day cycle menu is developed by the FSMC) 5 points Promotion of the School Food Service Program TOTAL: 100 points
Procurement/Payment Terms/Method. The selected FSMC shall invoice SFA at the end of each month for amounts due based on on-site records. The SFA shall make payments within 30 business days of the invoiced date. Upon termination of the awarded contract, all outstanding amounts shall immediately become due and payable. SFAs must use this cost reimbursable contract for cost reimbursable proposals in order to be eligible for reimbursement under USDA Child Nutrition Programs. Any amendment of this contract must be reviewed by DPI prior to execution. The SFA must determine and receive the full value of USDA Foods, including credits or reductions. The selected FSMC is responsible for reporting this monthly to the SFA. Adjustments may be accomplished on the monthly invoice from the selected FSMC or by an annual adjustment as determined by the SFA. USDA Foods values are to be based on the values posted on DPI’s USDA Foods website and shall include both the basic USDA Foods allocation as well as any bonus USDA Foods. Cost reimbursable contracts may be subject to an annual escalator provision as stipulated in this contract by the SFA. Adjustment factors may include changes in federal reimbursement rates, changes in third-party cost, or price indices. Proposals will be evaluated by a committee against the following criteria. Each area of the award criteria must be addressed in detail in the proposal. The SFA must assign the weights for the criteria. 20 points Cost 7 points Transparency of Rebates, Discounts, and Credits 11 points Investment Costs (Optional see Attachment U) 12 points Guarantees to Food Service Account (Optional) 6 points Experience, References 5 points Involvement of Students, Staff and Patrons 19 points Menu and Portion Sizes (if the 21 day cycle menu is developed by the offeror) 12 points On-site Manager 8 points Promotion of the School Food Service Program TOTAL: 100 points
Procurement/Payment Terms/Method. The selected FSMC shall invoice SFA at the end of each month for amounts due based on on-site records. The SFA shall make payments within ______ business days of the invoiced date. Upon termination of the awarded contract, all outstanding amounts shall immediately become due and payable. SFAs must use this cost reimbursable contract for cost reimbursable proposals in order to be eligible for reimbursement under USDA Child Nutrition Programs. Any amendment of this contract must be reviewed by DPI prior to execution. The SFA must determine and receive the full value of USDA Foods, including credits or reductions. The selected FSMC is responsible for reporting this monthly to the SFA. Adjustments may be accomplished on the monthly invoice from the selected FSMC or by an annual adjustment as determined by the SFA. USDA Foods values are to be based on the values posted on DPI’s USDA Foods website and shall include both the basic USDA Foods allocation as well as any bonus USDA Foods. Cost reimbursable contracts may be subject to an annual escalator provision as stipulated in this contract by the SFA. Adjustment factors may include changes in federal reimbursement rates, changes in third-party cost, or price indices.