Prompt Payment Clause. Payment will be made in accordance with, and within the time specified in, Government Code Chapter 4.5, commencing with Section 927.
Prompt Payment Clause. A. Payment will be made in accordance with, and within the time specified in, Government Code, Chapter 4.5, commencing with Section 927 and all agreements must comply with Public Contract Code Sections 10262 and 10262.5.
Prompt Payment Clause. CCPRC
(1) Subject to the provisions on retainage provided in Paragraph (2) below, when a subcontractor has satisfactorily performed a work item of the subcontract, the Contractor must pay the subcontractor for the Work item within seven (7) Calendar Days of the Contractor’s receipt of payment from CCPRC. A subcontractor shall be considered to have “satisfactorily performed a work item of the subcontract” when CCPRC pays the Contractor for that Work item.
(2) The Contractor may withhold as retainage up to five (5%) percent of a subcontractor’s payment until satisfactory completion of all work items of the subcontract. “Satisfactorily completion of all work items of the subcontract” shall mean when CCPRC pays the Contractor for the last work item of the subcontract. The Contractor must release to the subcontractor any retainage withheld within seven (7) Calendar Days from the date the Contractor receives payment from CCPRC for the last work item of the subcontract.
(3) Prior to receiving payment of each monthly estimate, the Contractor shall certify to CCPRC that the construction estimate is complete and that all subcontractors have been paid for work covered by previous estimates.
(4) Failure to comply with any of the above provisions shall result in one or more of the following sanctions:
(1) no further payments to the Contractor unless and until compliance is achieved;
(2) the Contractor being placed in default; and/or
(3) the Contractor being declared delinquent
Prompt Payment Clause. Payment will be made in accordance with, and within the time specified in, California Government Code Title 1, Division 3.6, Part 3, Chapter 4.5, commencing with Section 927 - The California Prompt Payment Act.
Prompt Payment Clause. A. Payment will be made in accordance with, and within the time specified in, Government Code, Chapter 4.5, commencing with Section 927 and all agreements must comply with Public Contract Code Sections 10262 and 10262.5.
B. Pursuant to Public Contract Code Section 10262, Contractor shall pay its Subcontractor(s) within seven (7) calendar days from receipt of each payment made to Contractor by Caltrans.
C. Failure of Contractor adhering to Public Contract Code Section 10262 may result in termination of this Agreement per Public Contract Code Section 10253 and disciplinary action by the Contractors State License Board may be implemented
D. Pursuant to 49 Code of Federal Regulations, Part 26.29(b), Caltrans will not withhold payment from Contractor, and Contractor, and any of its subcontractors, shall not withhold payment from any subcontractor when the Agreement is Federally funded.
E. Any subcontract entered into as a result of this Agreement shall contain all the provisions of this clause.
Prompt Payment Clause. Payment will be made in accordance with, and within the time specified in, Government Code Chapter 4.5, commencing with Section 927. Payment to small/micro businesses shall be made in accordance with and within the time specified in Chapter 4.5, Government Code 927 et seq.
Prompt Payment Clause. A. Payment will be made in accordance with, and within the time specified in, Government Code section 927, et seq.
Prompt Payment Clause. Consultant shall include a “Prompt Payment Clause” as a part of every subcontract for work, including all lower tier subcontracts. The “Prompt Payment Clause” will require progress payments to all subconsultants for all work completed, within twenty (20) calendar days after receipt of progress payments from the State for said work. If Consultant fails to carry out the requirements of the “Prompt Payment Clause” without just cause, isit will be considered a material breach of this Agreement. In such situation, State may withhold any payment due to Consultant until all delinquent payments have been made (no interest will be paid for the period that payment was withheld), terminate this Agreement, or any other such remedy as State deems appropriate. Consultant may withhold payment fromto a subcontractor only for just cause, and must notify the State in writing of its intent to withhold payment before actually withholding payment. Consultant shall not withhold, delay, or postpone payment without first receiving written approval from the State.
Prompt Payment Clause. Payment will be made no later than 45 days following receipt of properly submitted, undisputed invoices except as otherwise set forth in, and in each case in accordance with, the California Prompt Payment Act, Government Code section 927, et seq.
Prompt Payment Clause. Payment will be made in accordance with, and within the time specified in, Government Code Chapter 4.5, commencing with section 927. Agreements awarded by the Department shall be subject to actual costs for services rendered under this Agreement. Allowable costs under this Agreement must meet the following general criteria: • Be generally recognized and necessary for the operation of the Contractor's organization. • Be reasonable for the performance of the Agreement, including acceptable sound business practices. • Be subject to the terms and conditions of the Agreement and approved DOR budgeted line items. • Not be used for general expenses required to carry out other responsibilities of the Contractor. • Be properly documented and supported. Documenting and supporting the distribution of all costs, including the allocation of time chargeable to the Agreement, is required. The Contractor agrees to comply with the 2 CFR 200 cost principles regarding documentation for the support of personnel activity chargeable to the Agreement.
