Common use of TOTAL PROJECT PRICE Clause in Contracts

TOTAL PROJECT PRICE. The total Fixed Price for this Project shall not exceed $US XXX. Supplier’s invoices shall show retainage of ten percent (10%). Following completion of Solution implementation, Supplier shall submit a final invoice to the Authorized User, for the final milestone payment amount shown in the table in section 9 below, plus the total amount retained by the Authorized User. If travel expenses are not included in the fixed price of the Solution, such expenses shall be reimbursed in accordance with Commonwealth of Virginia travel policies as published by the Virginia Department of Accounts (xxxx://xxx.xxx.xxxxxxxx.xxx). In order to be reimbursed for travel expenses, Supplier must submit an estimate of such expenses to Authorized User for approval prior to incurring such expenses. (Sections 9 through 11 should be used or deleted depending on the project’s complexity, risk and need for governance. For a simple project you may only need the section 10 table, but for a more complex project, or a major IT project, you may need a combination of or all of the tables for check and balance and redundancy.)