Laserfiche WebLink
6. Availability of Funds <br />This contract is contingent upon the continuing availability of State appropriations as provided in Section <br />2 of the Colorado Special Provisions, incorporated as a part of this contract. The State is prohibited by <br />law from making fiscal commitments beyond the term of its current fiscal period. if Federal appropriations <br />or grants fund this contract in whole or in part, the contract is subject to and contingent upon the <br />continuing availability of appropriated Federal funds for this contract. If State of Colorado or Federal <br />funds are not appropriated, or otherwise become unavailable to fund this contract, the State may <br />immediately terminate the contract in whole or in part without further liability. <br />PROCEDURES FOR AND OBLIGATIONS OF CONTRACT PERFORMANCE <br />7. Billing/Payment Procedure <br />7.1. The State shall establish billing procedures and pay Contractor the contract price or rate for <br />Services performed, reviewed, and accepted or Goods delivered, inspected, and accepted pursuant <br />to all the terms and conditions of this contract, including without limitation, performance, quality, <br />milestones and completion requirements for payment set forth in Exhibit A, Scope of Work, and the <br />State's inspection and acceptance rights in Section 8. Contractor shall submit invoices for payment <br />on forms and provide requested documentation in a manner prescribed or approved by the State. <br />Payments pursuant to this contract shall be made as earned, in whole or in part, from available <br />funds encumbered for the purchase of the described Services and Goods. Incorrect payments by <br />the State to Contractor due to omission, error, fraud, or defalcation shall be recovered from <br />Contractor by deduction from subsequent payments under this contract or other contracts between <br />the State and Contractor or collected as a debt due to the State. <br />7.2. Invoices and payments shall be mailed using the US Postal Service or other delivery service with a <br />properly addressed stamped envelop to the address specified by the Contractor on form W-9 or <br />other similar form and by the State in its billing procedures. <br />7.3. The State shall make payment in full with respect to each invoice within forty-five (45) days of <br />receipt thereof; provided that the amount invoiced represents Goods and/or Services which have <br />been accepted by the State and the form of the invoice is acceptable to the State. Uncontested <br />amounts not paid by the State within forty-five (45) days shall bear interest on the unpaid balance <br />beginning with the forty-sixth (46th) day at a rate of one percent (1 %) per month until paid in full; <br />provided, however, that no interest shall accrue with respect to unpaid amounts for which the State <br />has delivered to Contractor notice of a good faith dispute. Contractor shall invoice the State <br />separately for accrued interest on delinquent amounts. The billing shall reference the delinquent <br />payment, the number of day's interest to be paid and the applicable interest rate. <br />8. Inspection and Acceptance <br />The State reserves the right to inspect Services provided under this contract at all reasonable times and <br />places during the term of this contract, including any extensions. If any of the Services does not conform <br />to contract requirements, the State may require Contractor to promptly perform the Services again in <br />conformity with contract requirements, at no additional cost to the State. When defects in the quality or <br />quantity of Services cannot be corrected by re-performance, the State may: <br />(a) require Contractor to take necessary action to ensure that future performance conforms to <br />this contract requirements; and <br />(b) equitably reduce the payment due to Contractor to reflect the reduced value of the Services <br />performed. <br />Page 3 of 14 <br />