SECTION 107.01 - PAYMENTS. The Superintendent may issue monthly payment equal to 100% of the value of the work, depending upon the acceptance of the Certificate of Final Quantities by the Contractor, after the Superintendent has issued a Certificate of Substantial Completion and the Contractor has submitted a Statutory Declaration that all monies the Contractor owes in carrying out the work have been paid. In the absence of implementing a 15 % hold back, the Department will not release the bid deposit until all the appropriate paperwork has been submitted and approved by the Department. Notwithstanding the foregoing, no payment shall be construed to be an acceptance of any defective work or material.
Appears in 8 contracts
Samples: Transportation Agreement, Transportation Agreement, Transportation Agreement
