Progress Claims and Payments Clause Samples
The 'Progress Claims and Payments' clause establishes the process by which a contractor or service provider can request interim payments for work completed during a project. Typically, this clause outlines the schedule for submitting progress claims, the documentation required to support each claim, and the timeframe within which the client must assess and pay the claimed amounts. By providing a structured mechanism for regular payments, this clause ensures the contractor maintains cash flow throughout the project and reduces the risk of disputes over payment timing or amounts.
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Progress Claims and Payments. Amend Clause 4.2.6.7, by deleting subclause ii), and subclause iii).
Progress Claims and Payments. 4.2.6.1 The Contractor shall only be entitled to claim by way of progress payments for Work executed (excluding materials not incorporated in the works) comprising:
i) The Contract value of Work executed;
ii) The value of Work executed pursuant to any issued Contract Variations; and
iii) The value of Work executed pursuant to an issued Site Instruction authorising Work to proceed on a Dayworks basis and evidenced by Dayworks sheets signed by the Area Manager.
4.2.6.2 Once each month, the Contractor shall prepare and present to the Area Manager a Progress Claim in the form set out in Appendix 5/G (Sheets 1 to 4). The Area Manager shall then make an assessment of the value of Work done and completed and sign the appropriate sections of the Progress Claim forms noting any adjustments thereto.
4.2.6.3 Should the Area Manager make any adjustments to the Contractor’s Progress Claim, the Area Manager and the Contractor shall jointly review the adjustments so that the Contractor may accept or reject the adjustment. Such acceptance or rejection shall be noted on the appropriate section of the Progress Claim forms and shall be signed by one of the Contractor’s Key Personnel holding a position of authorization as noted in Tender Form Appendix 3/G
4.2.6.4 Should the Contractor not accept the adjustments, the matter shall be referred to the Engineering Manager who shall decide the extent or amount of Work for the purpose of the Progress Claim. In making this decision, the Engineering Manager shall not be under any obligation to measure or otherwise correctly determine the extent or amount of Work,
Progress Claims and Payments a) The Recipient will submit progress claims to Canada covering the Recipient’s Eligible Expenditures, in a form acceptable to Canada. Each progress claim must include the following:
i. an attestation by a senior official, designated in writing by the Recipient, that the information submitted in support of the claim is accurate and that Eligible Expenditures have been incurred and paid;
ii. an invoice with the breakdown of Eligible Expenditures claimed by Project component in accordance with Schedule B.2 (Project Cashflow); and
iii. for each Eligible Expenditure, a copy of the corresponding invoice and identification of: the date on which the Eligible Expenditure was incurred, the date on which the Eligible Expenditure was paid, and the category of Eligible Expenditures in Schedule A (Eligible and Ineligible Expenditures) to which each Eligible Expenditure corresponds.
b) Canada will make a payment upon review and acceptance of a progress claim, subject to the terms and conditions of this Agreement.
Progress Claims and Payments. 6.1 The Owner reserves the right to change the Price by written notice.
6.2 Variations refers to works outside the Rate Sheet which will be charged for on the basis of the Owner’s quotation, and will be detailed in writing, and shown as variations on the Owner’s invoice. The Hirer shall be required to respond to any variation submitted by the Owner within five (5) working days. Failure to do so will entitle the Owner to add the cost of the variation to the Price. Payment for all variations must be made in full at the time of their completion.
6.3 Time for payment of Works supplied under this Agreement being of the essence, the Price will be payable within the Payment Terms detailed in Schedule 1.
6.4 The Owner is entitled to submit a Payment Claim at the times set out in Schedule 1.
6.5 A Payment Claim may be issued within a period of 24 months after the Works to which the Payment Claim relates, was last carried out.
6.6 The Hirer must issue a Payment Schedule to a Payment Claim issued by the Owner within five (5) Business Days of service of the Payment Claim.
6.7 Payment can be made by credit card (a surcharge may apply per transaction) or by any other method as agreed to between the Hirer and the Owner. The Hirer authorises the Owner to charge its credit card for services supplied under this Agreement.
6.8 The Owner may apply and allocate payments received by, or on behalf of, the Hirer in a manner in the Owner’s absolute and unfettered discretion, including so as to attribute the payments to satisfy obligations which are or are not secured by a purchase money security interest or otherwise. The Owner may allocate payments at the time of receipt at any time afterwards. On any default by the Hirer, the Owner may re- allocate payments previously received and allocated.
6.9 The Hirer shall not be entitled to set off against, or deduct from the Price, any sums owed or claimed to be owed to the Hirer by the Owner nor to withhold payment of any invoice because part of that invoice is in dispute.
6.10 Unless otherwise stated the Price does not include GST. In addition to the Price, the Hirer must pay to the Owner an amount equal to any GST that the Owner must pay for any Services by the Owner under this Agreement.