Licenciado

Payment
(a) The Company will pay a remuneration to the Contractor according to Appendix 4 (Economic proposal approved by the Company); from the starting date of the performance of Services.
(b)The Contractor declares that the amount specified in Appendix 4 is the total payment the Contractor will be entitled to and waives any claim to the Company for additional amounts of any naturewhatsoever, except those which may have been approved in writing by the Company.
(c) Considering that this is a (lump sum / unit prices), the only readjustment that will be made will be the result of thePolynomial Formula approved by the parties, which must be delivered by the Contractor to the Company before finishing the Detailed Engineering, to be evaluated by the Company and, if it were the case,to approve it. The Polynomial Formula approved by the Company will be included hereto as an Appendix. Any readjustment arising out of the application of the Polynomial Formula must not exceed, in anisolated or cumulative way, the total referential amount of ( ). No other readjustments to the agreed payment will be possible during or after the execution of the Works.
(d) The Contractordeclares that the payment agreed in the Contract includes the coverage of all and any investment or expense in the premises, equipment, labor, qualified personnel, input, materials, tools, technical andprofessional services and for supervision, management and direction of all necessary and required operations for the development of Services according to the provisions in the submitted proposal and inthe Contract Documents.
(e) Due to the nature of Services, payments will be made monthly according to the progress of Services. If it is evidenced that the actual progress is greater or less thanthe specified one, the amount to be paid will be readjusted according to the current progress of Services.
(f) In order to pay the pertinent invoices, the following procedure must be followed:...