![]() If the Schedule provides rates for overtime, the premium portion of those rates will be reimbursable only to the extent the overtime is approved by the Contracting Officer. Failure to agree upon these overtime rates shall be treated as a dispute under the Disputes clause of this contract. If no overtime rates are provided in the Schedule and overtime work is approved in advance by the Contracting Officer, overtime rates shall be negotiated. (8) Unless the Schedule prescribes otherwise, the hourly rates in the Schedule shall not be varied by virtue of the Contractor having performed work on an overtime basis. The amounts withheld shall be retained until the Contractor executes and delivers the release required by paragraph (g) of this clause. ![]() The Contracting Officer may require a withhold of 5 percent of the amounts due under paragraph (a) of this clause, but the total amount withheld for the contract shall not exceed $50,000. (7) Unless otherwise prescribed in the Schedule, the Contracting Officer may unilaterally issue a contract modification requiring the Contractor to withhold amounts from its billings until a reserve is set aside in an amount that the Contracting Officer considers necessary to protect the Government's interests. (6) Promptly after receipt of each substantiated voucher, the Government shall, except as otherwise provided in this contract, and subject to the terms of paragraph (e) of this clause, pay the voucher as approved by the Contracting Officer or authorized representative. (iii) Other substantiation approved by the Contracting Officer. (ii) Records that verify the employees meet the qualifications for the labor categories specified in the contract or (i) Individual daily job timekeeping records The Contractor shall substantiate vouchers (including any subcontractor hours reimbursed at the hourly rate in the schedule) by evidence of actual payment and by. A small business concern may receive more frequent payments than every two weeks. (5) Vouchers may be submitted not more than once every two weeks, to the Contracting Officer or authorized representative. Fractional parts of an hour shall be payable on a prorated basis. (4) The hourly rates shall include wages, indirect costs, general and administrative expense, and profit. Labor hours incurred to perform tasks for which labor qualifications were specified in the contract will not be paid to the extent the work is performed by employees that do not meet the qualifications specified in the contract, unless specifically authorized by the Contracting Officer. (3) The hourly rates shall be paid for all labor performed on the contract that meets the labor qualifications specified in the contract. (2) The amounts shall be computed by multiplying the appropriate hourly rates prescribed in the Schedule by the number of direct labor hours performed. (iii) Transferred between divisions, subsidiaries, or affiliates of the Contractor under a common control. (1) Hourly rate means the rate(s) prescribed in the contract for payment for labor that meets the labor category qualifications of a labor category specified in the contract that are. ![]() The Government will pay the Contractor as follows upon the submission of vouchers approved by the Contracting Officer or the authorized representative: Payments under Time-and-Materials and Labor-Hour Contracts (Nov 2021) As prescribed in 32.111(a)(7), insert the following clause:
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