The members of the board may make changes as required to this document. Once reviewed and approved by the board it will be incorporated into the BYLAWS.
Project Authorization and Contract Award (PACA)
The following document is considered the contract award for a project that will commence after a decision of the board. The board agrees they have reviewed various proposals (at least 3) prior to contract award. The board, acting in good faith and in the best interest of the Catalina Oaks Homeowners, after a diligent review of all the data contained in the various proposals submitted for this project, has made a decision. The board is satisfied with this specific proposal which meets the criteria defined in the statement of work dated ______________ issued for the quote.
There are 5 board members. A majority, which is 3 out of 5 signatures on this document, constitutes authorization to issue a check for a job the board has agreed on. The current project_______________ has been awarded to ____________ and a check (50% of the total) will be issued in the amount of _____________ as a partial payment to begin said project. At the completion of said project the balance will be paid in full. The contractor has guaranteed by warranty, the project for a period of ___________.
Any issues will be dealt with in a timely manner and to the satisfaction of the board. Issues or discrepancies will be dealt with thru arbitration, should the occasion arise. In the event there is a situation that requires legal action, the board will seek legal council to evaluate its legal course of action, if required.
Signed this date__________________
Board of Directors signatures
____________________________
_____________________________
_____________________________
_____________________________
_____________________________
Note: All documents signed by the board will be placed in the historical files.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment