SUBCONTRACT PAYMENT Sample Clauses

SUBCONTRACT PAYMENT. 4.1 Schedule of Values. No later than seven (7) days prior to the first application for progress payment hereunder but, in any event no later than seven (7) days from the Effective Date, whichever is earlier, Subcontractor shall submit to WINTER XXXXXXX in such detail and with sufficient supporting information as WINTER XXXXXXX may require, a detailed Schedule of Values. The cost breakdown shall include line items for overhead and profit, As-Built Drawings, Operation & Maintenance data, Owner training, and Punch list work. The Schedule of Values is subject to WINTER XXXXXXX’x review and approval, but Subcontractor shall remain fully responsible for the reasonableness and accuracy of the costs contained in the agreed upon Schedule of Values, which will be used as a basis of checking Subcontractor's applications for payment or supporting WINTER XXXXXXX’x applications for payment under the Prime Contract. Subcontractor's submission of a Schedule of Values in a form reasonably acceptable to WINTER XXXXXXX shall be a condition precedent to any payment to Subcontractor.

SUBCONTRACT PAYMENT. 1. Provider must submit bills for fees or other compensation for services or expenses in sufficient detail for a proper pre-audit and post-audit thereof. 2. Where reimbursement of travel expenses are allowable as specified in Attachment I, bills for any travel expenses must be submitted in accordance with section 112.061, Florida Statutes. The Council may, if specified in Attachment I, establish rates lower than the maximum provided in section 112.061, Florida Statutes. 3. Pursuant to section 215.422, Florida Statutes, the Council has five working days to inspect and approve goods and services, unless this subcontract specifies otherwise. With the exception of payments to health care providers for hospital, medical, or other health care services, if payment is not available within 40 days, measured from the latter of the date the invoice is received or the goods or services are received, inspected and approved, a separate interest penalty set by the State’s Chief Financial Officer pursuant to section 55.03, Florida Statutes, will be due and payable in addition to the invoice amount. To obtain the applicable interest rate, contact the Council’s fiscal office or contract administrator. Payments to health care providers for hospitals, medical, or other health care services, will be made not more than 35 days from the date eligibility for payment is determined, at the daily interest rate of 0.03333 percent. Invoices returned to Provider due to preparation errors will result in a payment delay. Interest penalties less than one dollar will not be enforced unless Provider requests payment. Invoice payment requirements do not start until a properly completed invoice is provided to the Council.