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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:

1. Progress payments are only made to the contractor for costs incurred in the performance of the contract.
2. 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.