Professional Documents
Culture Documents
Appendices
Appendix F
Preparation of Interim Payment Certificates
General
An internationally tendered contract can be expected to provide for payments
both in foreign currency and local currency. The ratio between foreign and
local currency payments will be fixed in the Contract for the measured
works. However, there will inevitably be a number of additional items and
adjustments, where the ratio between currencies will differ from that
applicable to the bulk of the currency.
The final appearance of the top sheet of the Interim Payment Certificate
will depend on the preferences of the Employer and the Engineer. For
example, it may be preferred that the top sheet provides separate columns
showing the amounts included in the Contract (previous amounts), totals
this month and total amounts to date. A horizontally drawn A3-sized
document would be appropriate.
Appendix F
Appendix F
157
Appendix F
158
Appendices
Whole of the
Works
Section of the
Works
Part of the
Works
(%)
(%)
(%)
100
50
100
40*
100
40*
50
60
60
|
Repayment due on expiry of the
Defects Notification Period for a
Section
|
|
40*-----------------------|
|
|
|
|
|
50----------------------|
*These portions are calculated by dividing the estimated contract value of the Section or part by the
estimated final Contract Price.
Appendix F
Parts
1.1 An initial 40% is due on taking over.
1.2 A second 40% is due once the last of the Defects Notification Periods of the
parts comprising a Section expires.
1.3 The remaining 20% is included in the provisions of 2.3 below.
Sections
2.1 An initial 40% is due on taking over.
2.2 A second 40% is due once the Defects Notification Period for the Section
expires.
2.3 The remaining 20% for all Sections is due once the Defects Notification
Period forthe last Section expires.
Whole
3.1 The first 50% is due on taking over.
3.2 The second 50% is due once the Defects Notification Period for the whole
of the Works expires.
Appendix F
PROJECT TITLE
CONTRACT NO......................
FOR MONTH/YEAR...................
159
CONTRACTOR (Name)
Foreign Currency
Local
Currency
Measured Works
Add Payment to Nominated Subcontractors
Add Payment of Varied Works
Add Payment of Claims
Add Valuation of Dayworks
Add Valuation of Materials on Site
Add Changes in Legislation Cl. 13.7
Add Changes in Cost Cl. 13.8
Subtotal (1)
Deduct Retention Money (Limit %)
Subtotal (2)
Add
Appendix F
Submitted by .........................
Title/Position ..........................
Title/Position ..........................
Date ...........................
Date ........................................