Termination — Payment on Termination
After termination, the PM assesses the amount due to the Contractor. The assessment includes work done, materials on Site, and amounts due to Subcontractors.
Payment on termination is calculated based on the work properly executed at the date of termination. The Contractor provides final accounts and records.
The Employer may deduct amounts for completing the Works and for any additional costs incurred due to the termination. The net amount may be zero or negative.
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