Progress payments to the Contractor do not release the Contractor or its surety from any obligations under the Contract.
Progress payments to the Contractor Sample Clauses
Related to Progress payments to the Contractor
Progress Payments 5.1.1 Based upon Applications for Payment submitted to the Architect by the Contractor and Certificates for Payment issued by the Architect, the Owner shall make progress payments on account of the Contract Sum to the Contractor as provided below and elsewhere in the Contract Documents.
Payments to Subcontractors Develop and implement a procedure for the review, processing and payment of applications by subcontractors for progress and final payments.
PAYMENTS TO CONTRACTOR (a) Payments to Contractor will be made on a monthly basis and within thirty (30) days from receipt of a correct invoice or billing statement in accordance with the Texas Government Code, Chapter 2251, known as the Texas Prompt Payment Act. An invoice is considered received on the date it is date stamped by TFC. Contractor will be paid for completion of work accepted and approved by TFC’s Contract Administrator.
PROGRESS PAYMENT 5.4.1 After receipt by the Contract Administrator of a Proper Invoice submitted by the Contractor in accordance with 5.3 – PROPER INVOICES:
Contractor’s Fee The Contractor’s additional fee for overhead and profit shall be determined as follows:
