Trade Contractors’ Applications for Progress Payments Clause Samples
Trade Contractors’ Applications for Progress Payments. The CM shall develop and implement procedures for Trade Contractors’ submittal of Applications for Progress Payments and the review, processing and disbursement of Progress Payments to Trade Contractors, along with associated forms and reporting systems. Such procedure shall be submitted to the Owner for review and approval prior to the issuance of a Notice to Proceed to any Trade Contractor. The CM shall review and certify to the Owner the amount due on Trade Contractors’ Application for Progress Payment, CM’s Progress Payment certifications shall constitute the CM’s representation to the Owner that, based on CM’s observations and professional evaluation at the Site, the data in each Application for Progress Payment, and to the best of CM’s knowledge, information and belief, the Work has progressed to the point indicated in the Application for Progress Payment and the quality of the Work is generally in accordance with the Contract Documents for the Trade Contract subject only to results of subsequent tests, inspections and other procedures, minor deviations from requirements of the Trade Contracts correctable prior to completion and any specific qualifications expressed by CM in its certification. CM’s issuance of a Certificate pursuant to the preceding shall be a representation that the Trade Contractor(s) is/are entitled to payment in the amount so certified. The CM’s review of Applications for Progress Payment shall be undertaken and completed in a timely manner so that its Progress Payments due each Trade Contractor are disbursed within the time permitted by applicable law without incurring interest liability or other penalties/liabilities.
Trade Contractors’ Applications for Progress Payments. The CM shall develop and implement procedures for Trade Contractors' submittal of Applications for Progress Payments and the review, processing and disbursement of Progress Payments to Trade Contractors, along with associated forms and reporting systems. The CM shall ensure that all Trade Contractor applications conform to the Schedule of Values submitted by the individual Trade Contractors pursuant to the requirements of the Trade Contract Documents. The Application for Progress Payment shall be submitted on appropriate forms approved by the Owner which are the same, or substantially similar to AIA Forms G702 and G703. The CM shall, along with the Architect and Inspector, review and certify to the District the amount due on Trade Contractors' Application for Progress Payment, CM's Progress Payment certifications shall constitute the CM's representation to the Owner that, based on CM's observations and professional evaluation at the Site, the data in each Application for Progress Payment, and to the best of CM's knowledge, information and belief, the Work has progressed to the point indicated in the Application for Progress Payment and the quality of the Work is in generally in accordance with the Contract Documents for the Trade Contract subject only to results of subsequent tests, inspections and other procedures, minor deviations from requirements of the Trade Contracts correctable prior to completion and any specific qualifications expressed by CM in its certification. CM's issuance of a Certificate pursuant to the preceding shall be a representation that the Trade Contractor(s) is/are entitled to payment in the amount so certified. The CM's review of Applications for Progress Payment shall be undertaken and completed in a timely manner so that its Progress Payments due each Trade Contractor are disbursed within the time permitted by applicable law without incurring interest liability or other penalties/liabilities. Construction payments will have a ten percent (10%) retention authorized until Trade Contractor's work has been formally accepted per Public Contracts' Code.