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SECTION V. PAYMENT <br /> A. BASIS OF BILLING.City shall pay the Professional Service Provider for all services rendered <br /> under Section II based on unit costs as set forth in Exhibit H hereto. <br /> B. SUBCONSULTANT. The City shall pay the Professional Service Provider for services and <br /> reimbursable expenses of Subconsultants engaged by the Professional Service Provider with the <br /> approval of the City's Representative,the amount billed by the Subconsultant to the Professional <br /> Service Provider times an approved multiplier of 5% <br /> C. PAYMENT FOR WORK COMPLETED <br /> 1. Monthly Progress Payments Monthly progress payments may be requested by the Professional <br /> Service Provider for work satisfactorily completed and shall be made by the City to the <br /> Professional Service Provider as soon as practicable upon submission of statements requesting <br /> payment by the Professional Service Provider to the City. Each statement shall be accompanied <br /> by an Invoice Data Sheet as shown in Exhibit I. If the Professional Service Provider prefers,the <br /> Invoice Data sheet may serve as the Professional Service Provider's invoice. <br /> 2. Monthly Pro egr ss Reports.The Professional Service Provider shall prepare a monthly progress <br /> report indicating the amount of work completed based on the approved scope of work and any <br /> approved addendums. The Professional Service Provider shall also prepare a progress chart <br /> showing the upper limit of compensation approved by the contract,the planned time of <br /> completion,the estimated completion to date,the percentage of the approved contract amount <br /> earned,the percentage of elapsed time,and the currently forecasted amount of work required to <br /> complete the project. The Professional Service Provider may use an electronic spreadsheet <br /> template prepared by the City's Representative to prepare the progress chart. <br /> 3. Maximum Payment Requests.No payment request made pursuant to subparagraph 1 of this <br /> Section V shall exceed the estimated maximum total amount and value of the total work and <br /> services to be performed by the Professional Service Provider under this Agreement for that <br /> phase or additional service without the prior authorization of the City's Representative. These <br /> estimates have been prepared by the Professional Service Provider and supplemented or <br /> accompanied by such supporting data as may be required by the City's Representative. <br /> 4. Time and Manner of Payments Upon receipt of a properly invoiced payment request,the City <br /> shall pay the amount due less any amounts allowed to be retained or withheld by the City under <br /> this Agreement within 60 days of receipt of the invoice. <br /> 5. Release of Claims.Upon satisfactory completion of the work performed hereunder and prior to <br /> final payment under this Agreement,and as a condition precedent thereto,the Professional <br /> Service Provider shall execute and deliver to the City's Representative a release of all claims <br /> against the City arising under or by virtue of this Agreement. <br /> 6. Local Government Prompt Payment Act The Professional Service Provider and City hereby <br /> expressly acknowledge and agree that the Local Government Prompt Payment Act does not apply <br /> to this Agreement. <br /> D. PAYMENT UPON TERMINATION.In the event of termination by City under Section IV.E upon <br /> the completion of any phase of the Basic Services,progress payments due to the Professional Service <br /> Provider for services rendered through such phase shall constitute total payment for such services. In <br /> the event of such termination by City during any phase of the Basic Services,Professional service <br /> Provider also will be reimbursed for the charges of independent professional associates and <br /> consultants employed by Professional Service Provider to render Basic Services,and paid for services <br /> Last Revised:6/3/2021 <br />