<div class="chunk-title">Sec. 8-30. - Payments.</div>
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            <p class="incr0">
               (a)
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            <p class="content1">
               When applicable under this article, the county or school shall make progress payments
               to a contractor on the basis of a duly certified and approved invoice for work performed
               during the preceding calendar month. Until the project is 50 percent complete the
               owner cannot retain more than five percent per periodic payment owed to the prime
               contractor. When the project is 50 percent complete, no further retainage is allowed
               as long as performance is satisfactory. When a certificate of substantial completion
               is issued or upon beneficial occupancy, all remaining retainage must be released,
               although the owner may retain up to two and one-half times the value of remaining
               work to secure completion or correction of that work. "Line-item" release of retained
               funds is required for "early finishing trades" (subcontractors who complete 100 percent
               of their work before the project is 50 percent complete). In addition to these requirements,
               the owner may also withhold additional amounts in certain instances generally involving
               unsatisfactory performance and defective workmanship (G.S. 143-134.1). The contractor
               shall have his invoice approved by the architect or engineer and shall submit the
               invoice to the owner not later than two days prior to the end of each month. Such
               invoices will be reviewed by the owner and, if approved, placed in line for payment
               to the contractor by the fifth day of the following month. The owner will maintain
               records by project, indicating contract prices and budgeted amounts. All change orders
               must be processed following the procedure as indicated in section 8-2.
               </p>
            		
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               (b)
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            <p class="content1">
               In preparing invoices, material delivered to the construction site, together with
               preparation work done, shall be taken into consideration.
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               (c)
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            <p class="content1">
               The contractor shall submit with each monthly pay request and final payment the form
               entitled "Minority Business Enterprise (MBE) Documentation for Contract Payment" for
               the architect's or engineer's review.
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            <p class="incr0">
               (d)
               </p>
            		
            <p class="content1">
               The architect or engineer shall review MBE Documentation for Contract Payment found
               in the Minority Guidelines and Outreach Plan for compliance with minority business
               utilization commitments. The architect or engineer shall submit documentation for
               contract payment forms with monthly pay applications and copies to the owner.
               </p>
            		
            <p class="historynote0">
               (Ord. No. 2015-03, 3-16-2015)
               </p></div>