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Any other term used in this Agreement that is defined in an Exhibit shall be construed and <br />interpreted as defined in that Exhibit. <br />6. STATEMENT OF WORK <br />Grantee shall complete the Work as described in this Agreement and in accordance with the <br />provisions of Exhibit A. The State shall have no liability to compensate Grantee for the delivery <br />of any goods or the performance of any services that are not specifically set forth in this Agreement. <br />7. PAYMENTS TO GRANTEE <br />A. Maximum Amount <br />Payments to Grantee are limited to the unpaid, obligated balance of the Grant Funds. The <br />State shall not pay Grantee any amount under this Agreement that exceeds the Agreement <br />Maximum shown on the Signature and Cover Page of this Agreement. <br />B. Payment Procedures <br />i. Invoices and Payment <br />a. The State shall pay Grantee in the amounts and in accordance with the schedule <br />budget, and other conditions set forth in Exhibits A and B. <br />b. Grantee shall initiate payment requests by invoice to the State, in a form and <br />manner approved by the State. <br />The State shall pay each invoice within 45 days following the State's receipt of <br />that invoice, so long as the amount invoiced correctly represents Work completed <br />by Grantee and previously accepted by the State during the term that the invoice <br />covers. If the State determines that the amount of any invoice is not correct, then <br />Grantee shall make all changes necessary to correct that invoice. <br />d. The acceptance of an invoice shall not constitute acceptance of any Work <br />performed or deliverables provided under this Agreement. <br />ii. Interest <br />Amounts not paid by the State within 45 days of the State's acceptance of the invoice <br />shall bear interest on the unpaid balance beginning on the 45th day at the rate of I % per <br />month, as required by §24-30-202(24)(a), C.R.S., until paid in full; provided, however, <br />that interest shall not accrue on unpaid amounts that the State disputes in writing. <br />Grantee shall invoice the State separately for accrued interest on delinquent amounts, <br />and the invoice shall reference the delinquent payment, the number of day's interest to <br />be paid and the interest rate. <br />iii. Payment Disputes <br />If Grantee disputes any calculation, determination or amount of any payment, Grantee <br />shall notify the State in writing of its dispute within 30 days following the earlier to <br />occur of Grantee's receipt of the payment or notification of the determination or <br />calculation of the payment by the State. The State will review the information presented <br />by Grantee and may make changes to its determination based on this review. The <br />calculation, determination or payment amount that results from the State's review shall <br />not be subject to additional dispute under this subsection. No payment subject to a <br />dispute under this subsection shall be due until after the State has concluded its review, <br />Contract Number: CTGG1 2018-1467 Page 6 of 22 Version 0817 <br />