Laserfiche WebLink
ARTICLE 6 - PAYMENT PROCEDURES <br /> ' 6 . 01 Submittal and Processing of Payments <br /> A. CONTRACTOR shall submit Applications for Payment in accordance with Article 14 of the <br /> General Conditions . Applications for Payment will be processed by ENGINEER as <br /> provided in the General Conditions . <br /> ' 6 . 02 Progress Payments; Retainage <br /> ' A. OWNER shall make progress payments on account of the Contract Price on the basis of <br /> CONTRACTOR's Applications for Payment at intervals not less than once each month <br /> during performance of the Work as provided in paragraph 6 . 02 .A. 1 below. All such <br /> payments will be measured by the schedule of values established in paragraph 2 . 07 .A of <br /> the General Conditions (and in the case of Unit Price Work based on the number of units <br /> completed ) or, in the event there is no schedule of values , as provided in the General <br /> Requirements : <br /> 1 . Progress payments will be made in an amount equal to the percentage indicated <br /> below but, in each case , less the aggregate of payments previously made and less <br /> such amounts as ENGINEER may determine or OWNER may withhold , in accordance <br /> with paragraph 14 . 02 of the General Conditions : <br /> a . Ninety percent (90 % ) of Work completed (with the balance being retainage) ; and <br /> b . Eighty percent (80% ) of cost of materials and equipment not incorporated in the <br /> Work but stored on the Project site (with the balance being retainage ) . <br /> 6 . 03 Final Payment <br /> A . Upon .final completion and acceptance of the Work in accordance with paragraph 14 . 07 of <br /> the General Conditions , OWNER shall pay the remainder of the Contract Price as <br /> recommended by ENGINEER as provided in said paragraph 14 . 07 . <br /> ARTICLE 7 = INDEMNIFICATION <br /> t7 . 01 CONTRACTOR shall indemnify OWNER, ENGINEER , and others in accordance with <br /> paragraph 6 . 20 ( Indemnification) of the General Conditions to the Construction Contract. <br /> ARTICLE 8 = CONTRACTOR ' S REPRESENTATIONS <br /> 8 . 01 In order to induce OWNER to enter into this Agreement CONTRACTOR makes the <br /> ' following representations : <br /> A. CONTRACTOR has examined and carefully studied the Contract Documents and the <br /> ' other related data identified in the Bidding Documents . <br /> B . CONTRACTOR has visited the Site and become familiar with and is satisfied as to the <br /> general , local , and Site conditions that may affect cost, progress , and performance of the <br /> Work . <br /> C . CONTRACTOR is familiar with and is satisfied as to all federal , state , and local Laws and <br /> Regulations that may affect cost, progress , and performance of the Work. <br /> 0378-00520 - Agreement (Public Works).doc <br /> 00520 - 4 <br /> FAEngineering\Capital Projects\0378-26th Street Bridge\0378-26th Street Bridge CONTRACT DOC\0378-00520 - Agreement (Public Works).doc Rev. 05/01 <br />