Reso 2002-131 to 135 - Laserfiche WebLink

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ACTIA 2002-26.01 Firms found to be in violation of these provisions will be subject to penalties described in Section XVII below. XV. RECORDS The Authority or Sponsoring Agency, if any, shall maintain accurate records for each Contract awarded, including dollar value, the nature of the goods or services to be provided, the name of the Prime Contractor awarded the Contract, the efforts the Prime Contractor employed to solicit bids from LBEs and SLBEs, and all subcontracts awarded by the Prime Contractor, identifying for each its dollar value, the nature of the goods or services provided, and the name of the Subcontractor. Prime Contractors are required to maintain certain records and documents for three years following the performance of a Contract. Such records shall include the following: The name and address of each first -tier Subcontractor. The name and business address, regardless of tier, of every LBE and SLBE Subcontractor. • The date of payment and the total dollar figure paid to each Subcontractor. • A LBE or SLBE Prime Contractor shall also show the date of work performed by their own forces along with the corresponding dollar value of the work claimed toward the applicable Goal. These records will be made available for inspection upon request by any authorized representative of the Authority. XVI. PROMPT PAYMENT Prime Contractors shall be paid within thirty (30) days of submitting a verified invoice. Along with a request for payment, a Prime Contractor will submit a Progress Payment Form for Subcontractors. When it pays the Prime Contractor, the Authority will include a Progress Payment Form that reflects all approved items. Prime Contractors will enclose a photocopy of this Progress Payment Form with their payments to Subcontractors. The Authority shall ensure that the following clauses or equivalent will be included in each Contract subject to this Program: The Prime Contractor agrees to pay each Subcontractor under this prime contract for satisfactory performance of its contract no later than 10 days from the receipt of each payment the Prime Contractor receives from Authority. Any delay or postponement of payment from the above referenced time frame may occur only for good cause following written approval of the Authority. This clause applies to both LBE/SLBE and non-LBE/SLBE Subcontractors. The Prime Contractor agrees further to release retainage payments to each Subcontractor within 30 days after the Subcontractor's work is satisfactorily completed. Any delay or postponement of payment from the above referenced time frame may occur only for good cause following written approval of the Alameda County Transportation Improvement Authority Page E-1 S Local Business Enterprise and Small Local Business Enterprise Program