Common use of Subcontractor Payments Clause in Contracts

Subcontractor Payments. In accordance with 49 CFR Part 26.29, Contractor shall pay each subcontractor for satisfactory performance of its contract with the subcontractor no later than thirty (30) days from the receipt of each payment Contractor receives from PSTA. Contractor shall further return retainage payments to each subcontractor within thirty (30) days after the subcontractor’s work is satisfactorily completed. Contractor shall include as part of its contract or agreement with each subcontractor for work and material a “Prompt Payment Clause”. The Prompt Payment Clause shall require payment to all subcontractors, not only DBEs, for all labor and material for work completed within thirty (30) days of receipt of progress payments from PSTA for said work. The Prompt Payment Clause shall further stipulate the return of retainage within 30 days after the subcontractor achieves the specified work as verified by payment from PSTA.

Subcontractor Payments. In accordance with 49 CFR Part 26.29, Contractor Supplier shall pay each subcontractor for satisfactory performance of its contract with the subcontractor no later than thirty (30) days from the receipt of each payment Contractor Supplier receives from PSTA. Contractor Supplier shall further return retainage payments to each subcontractor within thirty (30) days after the subcontractor’s work is satisfactorily completed. Contractor Supplier shall include as part of its contract or agreement with each subcontractor for work and material a “Prompt Payment Clause”. The Prompt Payment Clause shall require payment to all subcontractors, not only DBEs, for all labor and material for work completed within thirty (30) days of receipt of progress payments from PSTA for said work. The Prompt Payment Clause shall further stipulate the return of retainage within 30 days after the subcontractor achieves the specified work as verified by payment from PSTA.

Subcontractor Payments. In accordance with 49 CFR Part 26.29, Contractor shall pay each subcontractor or subcontractor for satisfactory performance of its contract with the subcontractor or subcontractor no later than thirty (30) days from the receipt of each payment Contractor receives from PSTA. Contractor shall further return retainage payments to each subcontractor or subcontractor within thirty (30) days after the subcontractor’s or subcontractor’s work is satisfactorily completed. Contractor shall include as part of its contract or agreement with each subcontractor or subcontractor for work and material a “Prompt Payment Clause”. The Prompt Payment Clause shall require payment to all subcontractors and subcontractors, not only DBEs, for all labor and material for work completed within thirty (30) days of receipt of progress payments from PSTA for said work. The Prompt Payment Clause shall further stipulate the return of retainage within 30 days after the subcontractor or subcontractor achieves the specified work as verified by payment from PSTA.