Reso 2019-2952 - Laserfiche WebLink

Home Browse Search

5.2 Payment Procedure II':. ;, , '5.2..1 . - . ...:The City shall pathe Contract Price to the Contractor as provided below. 5.2.2 Progress Payments -- Based upon the Contractor's Applications for Payment submitted to the Engineer/Architect and upon Certificates for Payment subsequently issued to the City by the Engineer / Architect the City shall make progress payments to the Contractor on account of the Contract Price. Contractor shall use the AIA payment submittal method. 5.2.3 On or before the 15th day of each month after commencement of the Work, the Contractor shall submit an Application for Payment for the period ending the last day of the previous month to the Engineer/Architect in such form and manner, and with such supporting data and content, as the City or the Engineer / Architect may require. Contemporaneously with the submission of each Application for Payment, the Contractor shall submit a current shop drawing log reflecting the status of all shop drawings and submittals; a current CPM schedule as required by Paragraph 7.8 herein below; a current draw-down schedule as required by Paragraph 7.8.1 herein below; and the Contractor shall have a current set of As- Built drawings maintained on site and available for inspection. Submission of the shop- drawing log, CPM schedule, draw down schedule, and photographs as required herein shall be a condition precedent for payment to the Contractor. With regard to any Contract for construction.services, a public entity may withhold from each progress payment made to the Contractor an amount not exceeding.10 percent of the payment as retainage until 50 percent completion of such services. After 50 percent completion of the construction services purchased pursuant to the Contract, the public entity must reduce to 5 percent the amount of retainage withheld from each subsequent progress payment made to the Contractor. For of this section, the term "50 percent completion" has the meaning set forth in the purposes , Contract between the public entity and the Contractor, or if not defined in the Contract, the point at which the public entity has expended 50 percent of the total cost of the construction services purchased as identified in the Contract together with all costs associated with the existing change orders and other additions or modifications to the construction services provided for in the Contract. Payment for stored materials and equipment shall be contingent upon the Contractor's proof satisfactory to the City, that the City has title to such materials and equipment and shall include proof of required insurance sufficient to protect the City from any loss should the materials and equipment be lost, stolen or otherwise destroyed or damaged. the Such Application for Payment shall be signed bythe Contractor and shall constitute pP Y 9 Contractor's representation that the Work has progressed to the level for which payment is requested in accordance with the Schedule of Values, that the Work has been properly installed or performed in full accordance with this Contract, and that the Contractor knows of no reason why payment should not be made as requested. Thereafter, the Engineer / Architect will review the Application for Payment and may also review the Work at the Project site or elsewhere to determine whether the quantity and quality of the Work is as represented in the Application for Payment and is as required by this Contract. The City, in its sole discretion, may review the Work and the Application for Payment prior to any certification by the Engineer / Architect and the City may, in its sole discretion, require the Engineer / Architect and the Contractor to meet and confer with the City with respect to said Application for Payment prior to any certification of same. The Engineer/Architect shall determine and certify to the City the amount properly owing to the Contractor. The City shall make partial payments on account of the Contract Price to the Contractor within twenty-five (25) days following the receipt of the Engineer/Architect's approval of each Application for Payment. 8