Emergency Services Agreement - Belfor USA Group Inc - Installation of Hanging Nets around Damaged Plaster at MPAC

Home Browse Search

13ELFOR JO) PROPERTY RESTORATION ORATION (EE1_FOR USA GROUP, INC.) (Check the appropriate hox.) [ « » ] Budget NTB Amount - in the amount off 14.566*6* , subject to any change orders, additions, or deductions, and as further set forth in the Scope of Work attached as Exhibit A. * Actual to be invoiced on a Rate & Material Basis. [ « » ] 131JI F'OR'S National Rate and Material Schedule attached as Exhibit B. 3.2. Invoicing., 3.2.1 Owner agrees to pay Contractor's invoice within 30 days of receipt by the Owner. If Owner dispute's any arrrount within an invoice, then Owner shall pay all undisputed amounts within thirty (30) days from receipt of invoice and shall provide to Contractor, in writing, an explanation of the disputed amount with all supporting documentation within seven (7) days from Owner's receipt of the disputed invoice. Failure to do so shall result in an absolute waiver of Owner's right to dispute any amounts under said invoice. Owner agrees that it shall only assert disputes grounded in good faith and reasonable judgment. Owner shall not withhold payment of any undisputed amount payable by reason of any dispute. III the event of any such dispute, the Pat -ties shall seek to resolve the disputed amount promptly. If such disputed arnount cannot be resolved within fourteen (14) days of Owner's notice, then the Owner shall place the entire disputed amount in escrow until the Parties are able to resolve such dispute. The Contractor reserves the right to cease or suspend any work until the undisputed amount is paid in lidl, including interest, for Services performed. 3.2.2 Contractor's right to timely and full payment of its progress and final invoice shall not be contingent upon resolution of any disputes between the Owner and its insurer(s) or dependent upon the insurers' payment or approval of Contractor's invoices or charges. 3.2.3 In the event Owner fails to make payments promptly under this contract, it would be difficult to fix the damages suffered by Contractor because of varying rates of interest and inflation and because late payment impairs capital and. bonding capacity. As liquidated darnages the parties therefore agree that a charge of '1.5 percent per month will be assessed on all overdue payments. This rate represents a reasonable endeavor to estimate fair compensation for the foreseeable losses that might result from late payment. If payment is not timely made, on submitted invoices, Contractor reserves the right to cease any work, whether present or future, until Contractor is fully paid, including interest, for services performed. 3.2.4 The Owner waives any right of rccoupment or setoff that it may have, whether any such right arises by virtue of contract or law, with respect to the payments for any Work under this Agreement. Payments for Work shall be made in full without any setoff or recoupment. 3.2.5 Owner understands and agrees that the Owner's obligation to make timely payment is not abated, stayed, contingent, dependent or conditioned on Owner awaiting funds from its insurer(s), local government, State government, the federal government, or any government agency, grant, charitable organization, or any third -party. 3.3 Payment Schedule. Unless the parties otherwise agree to a payment schedule as set forth herein, Owner agrees to pay Contractor's invoice within 30 days of receipt by the Owner. [fNSRRT FIXED PAYMENT SCHEDULE IF APPLICABLE] 3.4 Adiustunents to Contract Sum. It is understood that the Work may be subject to change due to unknown factors. Such changes may result in a revised amendment which may increase the price and scope of the Work. It is understood that the Work may be subject to change due to unknown factors, those changes may result in a revised estimate, additional scope V.1 3/18 Page 2 of 9