Prompt Payment of Subcontractors. The CONTRACTOR agrees to pay each subcontractor under this Agreement for satisfactory performance of its contract no later than seven (7) days from the receipt of each payment the CONTRACTOR receives from CITY. The CONTRACTOR agrees further to release retainage payments to each subcontractor within thirty (30) days after the subcontractor’s work is satisfactorily completed. Any delay or postponement of payment from the above referenced time frame may occur only for good cause following written approval of the CITY.
Appears in 4 contracts
Samples: Public Works Agreement, Public Works Agreement, Public Works Agreement
Prompt Payment of Subcontractors. The CONTRACTOR agrees to pay each subcontractor under this Agreement for satisfactory performance of its contract no later than seven (7) days from the receipt of each payment the CONTRACTOR receives from CITY. The CONTRACTOR agrees further to release retainage payments to each subcontractor within thirty (30) days after the subcontractor’s work is satisfactorily completed. Any delay or postponement of payment from the above referenced time frame may occur only for good cause following written approval of the CITY.
Appears in 1 contract
Samples: Public Works Agreement
