Prompt Payment to Contractors Sample Clauses

Prompt Payment to Contractors. Developer shall require that the following provisions be incorporated in the Design-Build Contract:
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Prompt Payment to Contractors. The TSP shall pay each Subcontractor for Work satisfactorily performed within 30 days after receiving payment from the Joint Board for the Work satisfactorily performed by the Subcontractor. The foregoing payment requirements apply to all tiers of Subcontractors and shall be incorporated into all subcontracts.
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Prompt Payment to Contractors. Developer shall comply, and shall cause each Contractor to comply, with the provisions of Business and Professions Code section 7108.5, California Civil Code sections 8122-8138, and any other applicable Law relating to prompt payment of contractors and/or subcontractors and waivers and releases by them of stop payment notices and payment bond rights.
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Prompt Payment to Contractors. Developer shall require, as part of the Design-Build Contract, that the Design-Build Contractor pay each subcontractor for Work satisfactorily performed within 10 days after receiving payment from Developer for the Work satisfactorily performed by the subcontractor and pay any retainage on a subcontractor’s Work within 10 days after satisfactory completion of all of the subcontractor’s Work. Completed subcontractor work includes vegetative establishment, test, maintenance, performance, and other similar periods that are the responsibility of the subcontractor. For the purpose of this Section 23.13, satisfactory completion is accomplished when (a) the subcontractor has fulfilled the requirements of both the Design-Build Contract and the subcontract for the subcontracted Work, including the submittal of all information required by the specifications and the Design-Build Contractor, and (b) the work done by the subcontractor has been inspected and approved by Developer and the final quantities of the subcontractor’s work have been determined and agreed upon. The foregoing payment requirements apply to all tiers of subcontractors and shall be incorporated into all subcontracts.
Sample 1

Related to Prompt Payment to Contractors

  • PAYMENT TO CONTRACTOR The TOWN agrees to pay at the rates specified for SERVICES satisfactorily performed in accordance with this contract. Unless otherwise specified, the CONTRACTOR shall submit an itemized invoice to the TOWN by the end of the month during which SERVICES are performed. Payment will be processed promptly upon receipt and approval by the TOWN of the invoice.

  • 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.

  • Compensation to Contractor The terms related to the price of the goods and/or services to be provided under this Agreement and the terms of payment to the Contractor are described in more detail in Attachment “B” to this Agreement: Price and Payment Information.

  • Subcontractor Payments Subject to Agency’s prior approval, Agency will reimburse Outside Counsel for the actual, reasonable and necessary expenses relating to Outside Counsel’s use of subcontractors. Outside Counsel shall be responsible for any payments and other claims due to subcontractors for work performed under this OCC. Outside Counsel, in subcontracting for any performances or in support of any of the performances specified herein (e.g., expert services, local counsel, and other services), expressly understands and agrees that Agency shall not be directly liable in any manner to Outside Counsel’s subcontractor(s).

  • Payment to Subcontractors (If applicable) As required by Minnesota Statute § 16A.1245, the prime Contractor must pay all subContractors, less any retainage, within 10 calendar days of the prime Contractor’s receipt of payment from the State for undisputed services provided by the subContractor(s) and must pay interest at the rate of one and one-half percent per month or any part of a month to the subContractor(s) on any undisputed amount not paid on time to the subContractor(s).

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