Schedule for Payment of Basic Fee Sample Clauses

Schedule for Payment of Basic Fee. The Basic Fee under Article 5 (above) shall be paid in accordance with the Approved Work Plan Schedule of Values included within each delivery order, for performance of all services described in each specific delivery order. Unless otherwise Approved, a Schedule of Values/Staff Effort table shall be inclusive of each staff member at their compensation rate, multiplied by the number of hours for each task, plus any expenses/reimbursables for each phase of services. This will represent a not-to-exceed cost for each phase of work under the agreed upon Scope of Services. In the case where MassDevelopment Approves a form of lump-sum payment for a specific project (rather than method described in the above paragraph), then the Work Plan Schedule of Values shall be consistent with the following schedule, so that the total installments of the Basic Fee in each phase of the schedule equals the percentage of the Basic Fee allocated to each such phase of the schedule below. Actual payments can be requisitioned by the Designer upon completion of deliverables within each phase as set forth in the Approved Work Plan Schedule of Values: 15% for the schematics design phase services; 25% for the design development phase services; 30% for the construction documents phase services; 30% for the construction administration phase services. The Designer shall submit requisitions on a monthly basis for any deliverables completed within that month. MassDevelopment shall not be obliged to pay any claims received more than 45 days after notification to the Designer of final acceptance of the contractor's work under the Construction Contract.