Supplemental Agenda Items - FGUA

ARTICLE 5
PAYMENT PROCEDURES
5.1 Payment terms will be net forty-five (45) days. Terms not consistent with this
provision are not acceptable and may be caused for rejection. FGUA will pay the
Contractor within forty-five (45) days after the receipt of a correct invoice for
reasonable work allocable to the contract requirements, whichever event occurs
later. Payment(s) are considered effective on the date payment is mailed.
5.2 The cost of all materials and/or equipment provided in the performance of the
work is to be reimbursed to the Contractor in the following manner:
5.2.1 The FGUA shall reimburse the Contractor, on completion and acceptance
of each assigned job, only for those materials and/or equipment actually
used in the performance of the work that are supported by invoices issued
by the suppliers of the Contractor describing the quantity of the materials
purchased and/or equipment rented.
ARTICLE 6
TERMINATION OF AGREEMENT
6.1 FGUA may terminate or cancel this Agreement at its discretion and said
termination shall be effective, with or without cause, after written notice has
been provided to the Contractor.
6.2 Following termination, FGUA shall make a settlement with the Contractor upon a
pro rata basis as determined by FGUA, which shall fix the value of the Goods
and/or Services performed by the Contractor prior to the termination or
cancellation of this Agreement.
ARTICLE 7
CONTRACTOR’S REPRESENTATIONS
In order to induce FGUA to enter into the Agreement, Contractor makes the following
representations:
7.1 Contractor has familiarized itself with the nature and extent of the Contract
Documents, Work, site, locality and all local conditions, laws and regulations that
in any manner may affect cost, progress, performance, or furnishing of the
Work.
7.2 Contractor understands the estimate of quantities of the various items of work
and materials, if set forth in information provided by FGUA, is approximate only.
The quantities actually required to complete the work may be less or more than
estimates. The FGUA further serves the rights to vary the quantities in any
amount.