Reso 2001-361 - Laserfiche WebLink

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under the PROJECT. The parties further agree that the principles for determining the eligible costs, supporting documentation and minimum reporting requirements of the PROCEDURE shall be used. 6. Pursuant to s. 215.422, Florida Statutes, the Department's Project Manager shall have five (5) working days, unless otherwise specified herein, to inspect and approve the payment requests for payment. The DEPARTMENT must submit a request for payment to the Florida DEPARTMENT of Banking and Finance within twenty (20) days; and the DEPARTMENT of Banking and Finance has fifteen (15) days to issue a warrant. Days are calculated from the date the invoice is received or the date the services are received, inspected, and approved, whichever is later. Invoice payment requirements do not start until a complete and correct invoice has been received. Invoices which have to be returned to the GRANTEE for correction(s) will result in a delay in the payment. A Vendor Ombudsman has been established within the Florida DEPARTMENT of Banking and Finance who may be contacted if a contractor is experiencing problems in obtaining timely payment(s) from a State of Florida agency. The Vendor Ombudsman may be contacted at (850)410-9724 or (800)848-3792. 7. In accordance with s. 215.422, Florida Statutes, the DEPARTMENT shall pay the GRANTEE interest at a rate as established by s. 55.03(1), Florida Statutes, on the unpaid balance, if a warrant in payment of an invoice is not issued within 40 days after receipt of a correct invoice and receipt, inspection, and approval of the goods and services. Interest payments of less than $1 will not be enforced unless the GRANTEE requests payment. The interest rate established pursuant to s. 55.03(1), Florida Statutes, by Comptroller's Memorandum No. 12 (1999-00) dated December 2, 2000, has been set at 11.0% per annum or .0003014% per day. The revised interest rate for each calendar year beyond 2000 for which the term of this Agreement is in effect can be obtained by calling the DEPARTMENT of Banking and Finance, Vendor Ombudsman at the telephone number provided above or the Department's Contracts Section at 850/922-5942. 8. It is understood by the parties that the amount of this Agreement may be reduced should the Governor's Budget Office declare a revenue shortfall and assess a mandatory reserve. Should a shortfall be declared, the amount of this Agreement may be reduced by the same percentage as the DEPARTMENT is assessed for the mandatory reserve. Page 3 of 10