Project Update Report

PROJECT UPDATE REPORT

Company Name:     Contractor Name:

RECITALS

WHEREAS, Company and Contractor entered into a written agreement governing the provision of project services described as the Project in this report; and

WHEREAS, the parties require periodic written reports documenting progress, deliverables, budget status, issues and any requested changes to the Scope of Work; and

WHEREAS, this Project Update Report constitutes a formal update under the parties' agreement and may be relied upon for operational and payment decisions as provided herein.

PROJECT IDENTIFICATION

Reporting Period: From to   Report Prepared By:

EXECUTIVE SUMMARY

SCOPE OF WORK PERFORMED

The following describes work completed during this reporting period. This section updates and refines the contractual Scope of Work to reflect completed and in-progress tasks.

MILESTONES AND DELIVERABLES

Provide status for key milestones and expected completion dates. Indicate whether deliverables were accepted or require corrective action.

Status:    Completion Date:

Status:    Completion Date:

Status:    Completion Date:

PERCENT COMPLETE & SCHEDULE

Overall Percent Complete:    Schedule Status:

BUDGET SUMMARY

Original Contract Amount: $    Amount Invoiced To Date: $

PAYMENT TERMS (CURRENT REPORT)

Current Period Invoice Amount: $

Payment Schedule (select applicable):   Weekly   Monthly   By Milestone   Other

Late Payment Fee: . Invoices unpaid beyond the agreed terms shall accrue the stated late fee compounded monthly until paid, and Contractor may suspend work after providing written notice as required by the primary agreement.

RISKS, ISSUES AND MITIGATION

CHANGE REQUESTS

Change Requests Pending: Yes   No

NEXT STEPS

TERM AND TERMINATION

Agreement Start Date:    Agreement End Date:

Notice Period for Termination: . Either party may terminate the primary agreement for material breach if the breach remains uncured after the stated notice period. Termination shall be without prejudice to accrued rights and obligations, including payment for work performed to the effective date of termination.

CONFIDENTIALITY

Each party shall treat information disclosed in this report that is designated confidential, or that reasonably should be understood to be confidential, in accordance with the confidentiality obligations set forth in the parties' agreement. Confidential information shall not be disclosed except to authorized personnel or as required by law; disclosures required by law shall be preceded by prompt notice to the other party to permit protective measures.

GOVERNING LAW

This Project Update Report and any actions taken in reliance upon it shall be governed by and construed in accordance with the substantive law of the jurisdiction agreed to in the parties' primary agreement.

ENTIRE AGREEMENT

This Project Update Report, together with the underlying agreement between Company and Contractor, constitutes the entire understanding between the parties with respect to the matters contained herein and supersedes prior written or oral statements concerning the same. No amendment to the underlying agreement or this report shall be effective unless in writing and signed by authorized representatives of both parties.

CERTIFICATION

The undersigned certify that the information contained in this Project Update Report is true and accurate to the best of their knowledge, and that reported work was performed in accordance with the applicable agreement unless otherwise noted in this report.

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