Common use of Prompt Payment to Contractors Clause in Contracts

Prompt Payment to Contractors. Developer shall require that the following provisions be incorporated in the Design-Build Contract: 10.13.1 The Design-Build Contractor shall pay each subcontractor for Work satisfactorily performed within ten days after receiving payment from Developer for the Work satisfactorily performed by the subcontractor, and shall pay any retainage on a subcontractor's Work within ten 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 10.13, satisfactory completion is accomplished when: 10.13.1.1 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 10.13.1.2 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. 10.13.2 The foregoing payment requirements apply to all tiers of subcontractors and shall be incorporated into all subcontracts.

Prompt Payment to Contractors. Developer shall require that the following provisions be incorporated in the Design-Build Contract: 10.13.1 10.12.1 The Design-Build Contractor shall pay each subcontractor for Work satisfactorily performed within ten days after receiving payment from Developer for the Work satisfactorily performed by the subcontractor, and shall pay any retainage on a subcontractor's Work within ten 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 10.1310.12, satisfactory completion is accomplished when: 10.13.1.1 10.12.1.1 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 10.13.1.2 10.12.1.2 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. 10.13.2 10.12.2 The foregoing payment requirements apply to all tiers of subcontractors and shall be incorporated into all subcontracts.

Prompt Payment to Contractors. Developer shall require that the following provisions be incorporated in the Design-Build Contract: 10.13.1 The Design-Build Contractor shall pay each subcontractor for Work satisfactorily performed within ten days after receiving payment from Developer for the Work satisfactorily performed by the subcontractor, and shall pay any retainage on a subcontractor's Work within ten 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 10.13, satisfactory completion is accomplished when: 10.13.1.1 The subcontractor has fulfilled the requirements of both the Design- 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 10.13.1.2 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. 10.13.2 The foregoing payment requirements apply to all tiers of subcontractors and shall be incorporated into all subcontracts.