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General Provisions (100-199)

125All prior partial estimates and payments will be subject to correction in the final 1060

IN · 2024 Standard SpecificationsBook pages 33View official source ↗

and payments will be subject to correction in the final 1060 estimate and payment.

Except as otherwise provided herein, fina l payment will be made within 180 days after acceptance of the project. Acceptance shall be considered as the date the Contractor is relieved of further maintenance as provided in 107.19 and as set out in the final acceptance letter. However, final payment shall not be made on an amount which is in dispute or the subject of a pending claim. However, final payment may be made on that portion of the contract or those amounts which are not in dispute or subject of a pending claim. Such partial payment shall not constitute a bar, admission, estoppel, or have any other effect as to those payments in dispute or the subject of a 1070 pending claim. For the purpose of this section, a dispute exists when the Contractor makes a claim for increase or decrease to any part of the contract or seeks additional compensation for any reason.

Source: Indiana Standard Specifications, 2024 Edition. Pages 33 of 1,248.