Reso 2022-3362 - Laserfiche WebLink

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City of Sunny Isles Beach 18070 Collins Avenue, Sunny Isles Beach, Florida 33160 (305) 947-0606 phone (305) 949-3113 Fax submitted by Contractor in response to the RFP. The Schedule of Values shall be used only as a basis for the Contractor's Applications for Payment and shall only constitute such basis after it has been acknowledged in writing by the City's Representative and the City. 5.2 Payment Procedure 5.2.1 The City shall pay the Contract Price to the Contractor as provided below. 5.2.2 Progress Payments. Based upon the Contractor's Payment Requests to the City's Representative and upon Certificates for Payment subsequently issued to the City by the City's Representative, the City shall make progress payments to the Contractor on account of the Contract Price. Contractor shall use the AIA G-702 / 703 payment submittal method. 5.2.3 On or before the 25th day of each month after commencement of the Work, the Contractor shall submit a Payment Request for the period ending the last day of the previous month to the City Representative in such form and manner, and with such supporting data and content, as the City or the City Representative 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 7.9 herein below; lien releases from Contractor and subcontractors equaling funds expended by City for previous payment period; and the Contractor shall have a current set of As- Built drawings maintained on site including bore logs as may be applicable and available for inspection. Submission of the shop -drawing log, CPM 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 5 percent of the payment as retainage. 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. Such Payment Request shall be signed by the Contractor and shall constitute the 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 City's Representative will review the Payment Request 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 Payment Request and is as required by this Contract. The City, in its sole discretion, may review the Work and the Payment Request prior to any certification by the City's Representative and the City may, in its sole discretion, require the City's Representative and the Contractor to meet and confer with the City with respect to said Payment Request prior to any certification of same. The City's Representative 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 City's Representative's approval of each Payment Request. Unitee Inc. g