Subcontractor payment terms Form 2024

Subcontractor payment terms Form: What You Should Know

Subcontractor to the Owner, on the written receipt which shall designate the payment in advance by the date. Contractors Standard Contracting Agreement — Law-Info STANDARD TERMS AND CONDITIONS OF SUBSTANCE The Substance and Price of the Work shall be determined at the expense of both parties to the Contract, after due consideration thereof, and subject to the following terms and conditions or, as the case may be, additional ones: Each Party shall pay to the other Party in full the Contractor's contract price. No subcontract shall be made under this Subcontract unless it complies with all applicable Federal and State Law governing its construction. This Subcontracting Agreement shall terminate: When the Contractor or the Subcontractor shall either no longer desire to have it performed or shall have not complied with any term of this Subcontract, or any of the terms of this Contract, the Contractor shall, promptly upon such termination of the Subcontracted, refund to the Subcontractor all monies paid by the Subcontractor on the Contractor's behalf to cover expenses and other charges which the Subcontractor has incurred while the contract on the Subcontract became in effect. When the Contractor shall, as a result of changes in ownership, have not the full right and power to control an event or a project that it had at the time the Contract was executed, the Contractor is allowed to rescind the Contract or terminate the construction thereof at its sole option. The following is a sample Subcontracting Agreement. Contractors Standard Contracting Agreement (PDF) Payment to the Subcontractor's Designated Agent will be made by check or money order, payable to the name designated on the written receipt  on or before the date the check or money order is delivered. Subcontractor shall designate an agent, by such person or persons as determined by the Subcontractor to be acceptable by the Party. The Subcontractor shall pay all taxes and fees, and taxes and costs of administration and legal procedure applicable to the Subcontract, in accordance with the provisions of any applicable law or governing instrument. The Parties stipulate that unless specifically agreed, the payment of all the monies due to the Contractor will be made through a bank transfer to the party on whose behalf the invoice will be paid.

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