F1499677964_4ExhibitBMethodofCompensation.pdf

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EXHIBIT "B"

(Sample)

METHOD OF COMPENSATION

1.0 PURPOSE:

This Exhibit defines the limits and method of compensation to be made to the Vendor for the services set forth in Exhibit "A" and the method by which payments shall be made.

2.0 COMPENSATION:

For the satisfactory performance of services detailed in Exhibit "A", the Vendor shall be paid up to a Lump Sum Amount of $ . The Lump Sum Amount consists of the following Progress payments:

Deliverable Time Frame Progress payments

Deliverable I, Design Within 30 days of issuance of the Notice to Proceed, 20% of Lump Sum amount

Deliverable II, Fabrication of Molds

Within 30 days of the Department’s written approval of the design drawings/sketches

30% of Lump Sum amount

Deliverable III, Production, Furnishment, Delivery, and Installation of Statue

Unless otherwise authorized by the Department in writing, within 60 days of the Department’s written approval of the design drawings/sketches.

50% of Lump Sum amount

The Lump Sum Amount for each includes all related costs including but not limited to the costs of final production, freight, and installation.

3.0 PROGRESS PAYMENTS:

The Vendor shall submit an invoice (3 copies) upon completion of each Deliverable in a format acceptable to the Department. Payment shall be made to the Vendor for the satisfactory completion of each Deliverable as approved by the Department.

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Invoices shall be submitted to:

Florida Department of Transportation Office of Planning and Environmental Management 3400 West Commercial Boulevard Fort Lauderdale, Florida 33309

The Vendor has certified that ____% MBE/DBE utilization would be achieved for this contract. If MBE utilization was certified by the Vendor, an MBE payment certification form shall be submitted with each invoice to verify the MBE utilization.

If DBE utilization was certified, DBE payments are to be input each month at the following link: https://www.fdot.gov/equalopportunity/eoc.shtm

New users reporting DBE payments will need to contact FDOT at EOOHelp@dot.state.fl.us to get a EOC user ID and password to access the application.

4.0 AUTHORIZATIONS:

The Department will provide written authorization for each course, task, project.

The Vendor shall not provide services until receipt of the written authorization.

5.0 TANGIBLE PERSONAL PROPERTY:

This Agreement includes the purchase of Tangible Personal Property, as defined in Section 273.02 Florida Statutes, which will be acquired in accordance with Rule 60A-1.017, Florida Administrative Code. Such property is identified below and will become the property of the Department upon purchase. Upon receipt of the property, the Consultant will provide the Department a copy of the purchase invoice and serial number, will affix Department inventory control labels, will accommodate physical inventories required by the Department and transfer control of the property to the Department upon completion of services.

6.0 FINANCIAL CONSEQUENSES:

Failure to meet Deliverable I within the allotted timeframe will result in a reduction of 5% of the compensation amount for Deliverable I.

Failure to meet Deliverable II within the allotted timeframe will result in a reduction of 5% of the compensation amount for Deliverable II.

Failure to meet Deliverable III within the allotted timeframe will result in a reduction of 10% of the compensation amount for Deliverable III.

https://www.fdot.gov/equalopportunity/eoc.shtm mailto:EOOHelp@dot.state.fl.us