Mississippi Administrative Code
Title 12 - Finance and Administration
Part 3 - Bureau of Building, Grounds and Real Property Management
Chapter 2 - Rules for the Bureau of Building, Grounds and Real Property Management
Rule 12-3-2.1 - Policies and Procedures
Division 12-3-2.1-0 - BIDDING AND CONTRACT REQUIREMENTS
Section 12-3-2.1-0-00500 - STANDARD FORM OF AGREEMENT BETWEEN THE OWNER AND THE CONTRACTOR
Article 12-3-2.1-0-00500-5-4 - PAYMENTS AND FINAL PAYMENTS
Universal Citation: MS Code of Rules 12-3-2.1-0-00500-5-4
Current through September 24, 2024
4.1 PROGRESS PAYMENTS
4.1.1 Based upon applications for
payment submitted to the Professional by the Contractor and
Certificates for Payment issued by the Professional, the Owner
will make progress payments on account of the Contract sum to the Contractor as
provided in the Contract Documents.
4.2 FINAL PAYMENT
4.2.1 Final payment constituting the entire
balance of the Contract sum will be paid by the Owner to the Contractor when
the work has been completed, the Contract fully performed and a final
Certificate for Payment has been issued by the Professional and approved by the
Owner.
Disclaimer: These regulations may not be the most recent version. Mississippi may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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