1 EXHIBIT “B”
Greater Coachella Valley Chamber of Commerce -
Payment Program for City of Cathedral City
Fiscal Year 22/23
Section 1: Invoices
The Service Provider shall submit quarterly invoices to the City’s Accounting Manager with a copy to the City’s Economic Development Director at the end of each quarter. For the purposes of this Agreement, quarters end on:
Quarter 1 - September 30, 2022 Quarter 3 - March 31, 2023 Quarter 2 - December 31, 2022 Quarter 4 - June 30, 2023 Invoices along with required documentation shall be submitted within thirty (30) days of the end of each quarter.
Section 2: Required documentation
In one standard PDF file printable on 8.5” x 11”, each quarterly invoice shall include a copy of:
a) Quarterly report based on Exhibit “A” summarizing activities & findings; b) Exhibit “B” Payment Program from the current Service Provider Agreement; c) Statement of Assets, Liabilities, and Owner’s Equity for the same quarter as the submitted invoice; and d) Statement of Activities Budget Performance for the same quarter as the submitted invoice.
Section 3: Payment
The City shall pay the Service Provider within thirty (30) days of receipt of an invoice, except as otherwise provided for herein. The $30,000 annual contract will be paid in equal quarterly installments of $11,250.00. The City reserves the right to adjust the fourth and final payment (Quarter 4 payment) for any services required in Exhibit A but not completed.
Section 4: Contested Invoices
Payment to the Service Provider shall not be made within the thirty (30) days of receipt of any invoice that is contested or questioned and returned by the City with a written explanation within the thirty (30) days of receipt of invoice.
A. The Service Provider shall provide the City with a written response to any invoice contested or questioned, and upon request of the City, the Service Provider shall provide the City with any and all documents related to any invoice.
Section 5: Early Termination or Suspension
A. In the event of early termination or suspension, the City shall compensate the Service Provider for all services rendered pursuant to the Agreement up to the time of the effective date of the early termination or suspension.
B. Compensation for services rendered in connection with a task that has not been completed at the time of the effective date of the early termination or suspension shall be provided to the Service Provider on a prorated basis to reflect the percentage of the specific task that has been completed at the aforementioned time.