SECTION 752:11-7-12. Payment requests

(a)   Partial payments for work completed and materials stored on site may be submitted once each month. A detailed procedure to be followed is shown below:

(1)   The contractor shall be required to complete a detailed breakdown of costs, arranged according to sections of the specifications, and submit it to the CFMO or his designee for approval. This breakdown shall be used throughout the job and cannot be changed without approval from the CFMO or his designee or Design Consultant.

(2)   The contractor should meet with the CFMO or his designee and/or Design Consultant when the rough draft of the pay request is prepared to agree on percentages of work completed and finalize the final form. The contractor should furnish the CFMO or his designee and/or Design Consultant with one (1) electronic copy of the pay request and all supporting documents.

(3)   An itemized listing of materials stored on site at the end of the period covered in the pay request shall be prepared on the contractor's letterhead. Copies of paid invoices are to be attached. The date on the listing must agree with the date on the pay request. The materials must be stored at the site and cannot be removed after the payment has been made. The detailed description of stored materials should show quantities and sizes of materials. The usual terms of reference such as tons of steel and types of windows shall be acceptable.

(4)   If the contractor deems it necessary, and the CFMO or his designee and/or Design Consultant recommend, the contractor may store material off-site. To do so, there must be a written agreement between the Authority and the contractor which provides:

(A)   proof of applicable insurance;

(B)   a written guarantee of delivery to the job site;

(C)   photos; and

(D)   written title to all materials covered by the request for payment, which shall pass to the Authority.

(E)   For particularly large projects, the Authority may require an on-site inspection of facilities by the CM or Design Consultant to verify the authenticity of quantities of stored materials.

(b)   The Certificate of Contract Completion, Consent of Surety, Lien Release, and the Contractor's Warranties must be submitted with the final request for payment.

[Source: Added at 36 Ok Reg 1970, eff 9-18-19]