Gunnison Valley RTA Public Transportation
Gunnison Valley Transportation Authority (RTA) Procurement Policies and Standards/Payments – Progress Payments
Grantees may use progress payments provided the following requirements are followed:
- Progress payments are only made to the contractor for costs incurred in the performance of the contract.
- The grantee must obtain adequate security for progress payments adequate security may include taking title, letter of credit or equivalent means to protect the grantee’s interest in the progress payment.