What must the Contractor submit to the City within 30 days after the termination date?

The requirement for the Contractor to submit an invoice detailing costs and allowances as separate line items within 30 days after the termination date is fundamental to the contractual agreement between the Contractor and the City. This invoicing process ensures transparency and accountability in financial reporting. By breaking down costs and allowances separately, it allows for a clear understanding of expenses incurred during the duration of the contract. This detail is vital for the City to review the financial aspects of the completed work, verify that all charges are justifiable, and ensure proper financial closure on the project.

The focus on submitting an invoice also aligns with proper financial management practices, aiding both parties in reconciling any outstanding payments or discrepancies. It provides a formal and structured format capturing the comprehensive financial transactions related to the contract’s execution, reinforcing the importance of financial clarity in municipal agreements.