Submission of Applications for Payment by Contractor. Contractor shall submit separate applications for payment to Owner or Owner's Representative monthly within five (5) calendar days after the designated cutoff date as follows: (i) Progress applications for payment, for progress payments for the Work (including additional Work authorized in writing by Owner or Owner's Representative and added by a formal change order to the Contract) completed by Contractor during each progress billing period. The cutoff date for Contractor's progress application for payment shall be consistent from month to month. Payment shall not be construed to be an acceptance of the Work. (ii) Additional work applications for payment as separate applications for payment, to cover additional Work authorized by Owner or Owner's Representative and completed by Contractor, but not added to the Contract by a formal change at the time of invoicing. Such applications for payment are subject to the Retainage. (iii) The final and/or retention application for payment shall be submitted for final payment after completion and acceptance of the Work by Owner and compliance by Contractor with all terms of the Contract. This application for payment shall contain a complete itemized listing of progress and additional work invoices by number, date, gross amount, retention amount, and the total amount of sums retained and due and shall be accompanied by an accounting breakdown in the form to be specified by and acceptable to Owner. It shall also contain, or be supported by a written acceptance of the Work signed by Owner and a certification and release in accordance with Article 11.3,
Appears in 4 contracts
Samples: Master Equipment Agreement, Master Construction Agreement, Master Equipment Agreement
