IC Payment Claim definition

IC Payment Claim has the meaning as set out in clause 6.2(a). Independent Expert an engineer experienced with the relevant engineering, procurement and construction arrangements who has been: selected by the Relevant Parties; or appointed under clause 11.4(a)(i); and in both instances, confirmed by the Relevant Parties as having no interest or relationship with any of the Relevant Parties which may reasonably be considered to adversely affect his or her capacity to act independently or impartially. Key Personnel the people identified as key personnel in the Contract Particulars. Monthly Fee the monthly fee payable to the Independent Certifier in accordance with this Agreement as set out in section 2 of the Contract Particulars. Payment Condition Precedent the conditions precedent in the Contract Particulars. Project [insert description]. Project Dispute any dispute, difference or disagreement between the Project Parties and the Independent Certifier arising out of or in connection with the performance of the Project Services. A reference to a Project Dispute which is partly resolved is a reference to the unresolved part of the Project Dispute. Project Parties the Principal and the Contractor. Project Services the services listed in Schedule 4 as may be varied in accordance with this Agreement. Relevant Party in respect of: an ARENA Dispute, the Principal, ARENA and the Independent Certifier; a Project Dispute, the Principal, Contractor and the Independent Certifier; and a Finance Dispute, the Principal, the [Financier/Agent] and the Independent Certifier.
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Examples of IC Payment Claim in a sentence

  • Despite any other provision of the Agreement, if the Payment Condition Precedent is not satisfied at the time the Principal is required to issue an IC Payment Certificate, no amount claimed in the relevant IC Payment Claim is payable and the Principal may issue an IC Payment Certificate which reflects this.

  • If the IC Payment Claim relates to any portion of the Fee that is calculated in accordance with the Schedule of Rates: the IC Payment Claim must also include a detailed breakdown of the amounts claimed to which the rates apply, including whether the amount relates to the provision of ARENA Services, Finance Services or Project Services; and the Independent Certifier must also give to the Principal any other information reasonably requested by the Principal.

  • Within 10 Business Days of receiving an IC Payment Claim, the Principal must issue to the Independent Certifier a statement of the amount payable to the Independent Certifier including where the amount in the statement differs from the IC Payment Claim, the reasons for the difference (IC Payment Certificate).

  • If the IC Payment Claim relates to any portion of the Fee that reimburses the Independent Certifier for an expense, the IC Payment Claim must also include reasonable evidence of the expense (such as an invoice or receipt).

  • The Independent Certifier must no more frequently than once a month submit to the Principal a written claim for payment on account of the Fee for the Services performed in accordance with the Agreement since the last claim (IC Payment Claim).

  • The Principal must pay the Independent Certifier the amount stated in the IC Payment Certificate within 15 Business Days after the date the IC Payment Claim is submitted under clause 6.2(a).

Related to IC Payment Claim

  • Payment Claim means the claim for payment made by the Contractor in accordance with this Contract.

  • Settlement Claim means a claim for settlement benefits made under the terms of this Settlement Agreement.

  • Indemnity Claim has the meaning set forth in Section 8.3.

  • Claimed Amount means the amount of any Damages incurred or reasonably expected to be incurred by the Indemnified Party.

  • Tax Claim has the meaning set forth in Section 6.05.