Compensation is based on a firm-fixed-price (lump sum) reimbursement schedule, in accordance with the mutually agreed upon milestone payment schedule in Attachment B of the Agreement. Fifty percent (50%) of the annual funding will be reimbursed monthly for milestones satisfactorily completed and reported to the Port Project Manager. This consists of twenty-five percent (25%) within 30 days of execution of the contract and twenty-five percent (25%) upon submission and approval of the annual report.
