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DocuSign Envelope ID: 601932A9-29F4-4C23-80F1-CEA4FACB795C <br />v.4.10 <br />COLORADO <br />Financtal5ervices <br />l?epartntcrn Of Hl,.. i. i'�,r <br />Dwipon of Cont—a , and Procurement <br />Any other term used in this Contract that is defined in an Exhibit shall be construed and <br />interpreted as defined in that Exhibit. <br />4. STATEMENT OF WORK <br />Contractor shall complete the Work as described in this Contract and in accordance with <br />the provisions of the Exhibits. The State shall have no liability to compensate Contractor for the <br />delivery of any goods or the performance of any services that are not specifically set forth in this <br />Contract. <br />5. PAYMENTS TO CONTRACTOR <br />A. Maximum Amount <br />Payments to Contractor are limited to the unpaid, obligated balance of the Contract <br />Funds. The State shall not pay Contractor any amount under this Contract that exceeds the <br />Contract Maximum for that term shown on the Signature and Cover Pages for this Contract. <br />B. Payment Procedures <br />i. Invoices and Payment <br />with the Exhibits. <br />a. The State shall pay Contractor in the amounts and in accordance <br />b. Contractor shall initiate payment requests by invoice to the State, <br />in a form and manner approved by the State. Invoicing is a material component of Contract <br />performance and corresponding Deliverables. Invoices shall be due to the State within 45 days of <br />work performed by the Contractor, unless otherwise stated in the Exhibits hereto. Invoicing shall <br />be done accurately and per any specifications set forth in the Exhibits hereto. Time is of the <br />essence in this regard. If Contractor fails to timely and/or properly invoice the State, the State <br />may not be obligated to pay the bill resulting from said invoice. Failure to timely and/or properly <br />invoice the State is a material breach of this Contract which would be cause for the State to <br />refuse payment and/or terminate the contract on these grounds in whole or in part, at the State's <br />discretion. <br />C. The State shall pay each invoice within 45 days following the <br />State's receipt of that invoice, so long as the amount invoiced correctly represents Work <br />completed by Contractor 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 Contractor shall <br />make all changes necessary to correct that invoice. <br />d. The acceptance of an invoice shall not constitute acceptance of any <br />Work performed or deliverables provided under the Contract. <br />Page 10 of 41 <br />