2017-016A - Laserfiche WebLink

Home Browse Search

pay OWNER $ 1,148 for each calendar day that expires after the time specified in paragraph 3 02 for completion and readiness for final payment until the Work is completed and ready for final payment ARTICLE 4-CONTRACT PRICE 401 OWNER shall pay CONTRACTOR for completion of the Work an amount in current funds equal to the sum of the amounts determined pursuant to paragraph 4 01.A and summarized in paragraph 4 01.B, below A. For all Work, at the prices stated in CONTRACTOR's Bid, attached hereto as an exhibit B THE CONTRACT SUM subject to additions and deductions provided in the Contract Documents. Numerical Amount- $1,246,000.00 Written Amount: one million, two hundred forty-six thousand dollars ARTICLES -PAYMENT PROCEDURES 5.01 Progress Payments A. The OWNER shall make progress payments to the CONTRACTOR on the basis of the approved partial payment request as recommended by CONSULTANT in accordance with the provisions of the Local Government Prompt Payment Act, Florida Statutes section 218 70 et. seq. The OWNER shall retain ten percent (10%) of the payment amounts due to the CONTRACTOR until fifty percent (50%) completion of the work. After fifty percent (50%) completion of the work is attained as certified to OWNER by CONSULTANT in writing, OWNER shall retain five percent (5%) of the payment amount due to CONTRACTOR until final completion and acceptance of all work to be performed by CONTRACTOR under the Contract Documents. Pursuant to Florida Statutes section 218 735(8)(b), fifty percent(50%) completion means the point at which the County as OWNER has expended fifty percent (50%) of the total cost of the construction services work purchased under the Bid and Specification Documents, together with all costs associated with existing change orders and other additions or modifications to the construction services work provided under the Contract Documents. 502 Pay Requests A Each request for a progress payment shall contain the CONTRACTOR'S certification All progress payments will be on the bass of progress of the work measured by the schedule of values established, or in the case of unit price work based on the number of units completed After fifty percent (50%)completion,and pursuant to Florida Statutes section 218 735(8)(d), the CONTRACTOR may submit a pay request to the County as OWNER for up to one half (1/2) of the retainage held by the County as OWNER, and the County as OWNER shall promptly make payment to the CONTRACTOR unless such amounts are the subject of a good faith dispute, the subject of a claim pursuant to Florida Statutes section 255 05(2005), or otherwise the subject of a claim or demand by the County as OWNER or Page 2 of 7