WORLD TRADE CENTER - RESIDENTIAL APARTMENTS

NYC 9/11 Public Portal Document NYC-DEP Information For Bidders and Supply & Service Agreement (Rev. 11 /93) have been or will be inserted in the contracts with such other contractors. Should ary other contractor having or who shall hereafter have 2 contract with the City for the performance of work upon the site sustain any damage through any act of omission of the Contractor hereunder or through any act or omission of any subcontractor of the Contractor, the Contractor agrees to reimburse such other contractor for all such damage and the indemnify and hoid the City harmiess from all such claims. ARTICLE 5 - PAYMENT The Prompt Payment provisions set forth in Chapter 6, Section 661, of the Procurement Policy Board Rujes in effect at the time of this solicitation will be applicable to payments made made after the required payment date except as set forth in subdivisions ¢{3) and d(2), (3), (4) and (5) of Section 661 of the Rules. The contractor must submit a proper invoice to receive payment, except where the comtract provides that the contractor will be paid at predetermined imervals without having to submit an invoice for each scheduled payment. - Determinations of interest will be made in accordance with the provisions of Section 661 of the Procurement Policy Board Rules and General Municipal Law (Section 3-a): If the contractor is paid interest, the proportionate share of that interest shall be forwarded by the contractor to its subcontractor(s). . The contractor shall pay each subcomrractor {including 2 materials supplier) not later than seven (7) days after receipt of payment out of amounts paid to the contractor by the City for work performed by the subcontractor or supplier under this contract. The contents of this Subparagraph substimutes, in pertinent part, for the requirements set forth im Chapter IV, Article 18, Subdivision 1, entitled “Payment To Subcomractors”. The comtractor shall imclude in each of its subcontracts a provision requiring each subcontractor to make payment to each of its lower-tier subcontractors or suppliers for work performed under this contract in the same manner and within the same time period set forth above. ARTI _ AWARDED PRI For the Contractor's complete performance of the work, the City will pay, and the Contractor agrees to accept, Subject to the terms and condinons hereof, the lump sum price or unit prices at which this Contract was awarded, plus the amount required to be paid for any extra work ordered by the Commissioner under Article 17 hereof, less credit for any work 18 NYC-WTC_000154149