Common use of Unit Price Clause in Contracts

Unit Price. If this contract is designated as a Unit Price Contract, invoicing and payment shall be as follows: (a) Contractor shall submit invoices, not more often than once a month during the term of this agreement, based on the cost for work performed in accordance with the Unit Prices in the Scope of Work prior to the invoice date. Invoices shall contain the following information: (1) Serial identifications of bills, i.e., Xxxx No. 1; (2) The beginning and ending dates of the billing period; (3) A summary containing the total contract amount, the amount of prior xxxxxxxx, the total due this period, percentage of work completed, the remaining balance available for all remaining billing periods, and a brief description of work completed during the billing period. (b) City shall make monthly payments, based on such invoices, for satisfactory progress in completion of the Scope of Work, less five percent retention. City shall release the retained funds no less than thirty five (35) days after the date the City accepts the Work.

Unit Price. If this contract is designated as a Unit Price Contract, invoicing and payment shall be as follows: (a) Contractor shall submit invoices, not more often than once a month during the term of this agreement, based on the cost for work performed in accordance with the Unit Prices in the Scope of Work prior to the invoice date. Invoices shall contain the following information: (1) Serial identifications of bills, i.e., Xxxx Bill No. 1; (2) The beginning and ending dates of the billing period; (3) A summary containing the total contract amount, the amount of prior xxxxxxxx, the total due this period, percentage of work completed, the remaining balance available for all remaining billing periods, and a brief description of work completed during the billing period. (b) City shall make monthly payments, based on such invoices, for satisfactory progress in completion of the Scope of Work, less five percent retention. City shall release the retained funds no less than thirty five (35) days after the date the City accepts the Work.