PAYMENT OF CONTRACTOR'S BILLS. 7.1. Payments will be made against Running Accounts bills certified by the Owner's Engineer- in-Charge/Site-in-Charge within 15 days from the date of receipt of the bill..
7.2. Running Account Bills and the final bill shall be submitted by the Contractor together with the duly signed measurements sheet(s) to the Engineer-in-Charge/ Site-in- Charge of the Owner in quadruplicate for certification. The Bills shall also be accompanied by quantity calculations in support of the quantities contained in the bill along with cement consumption statement, actual/theoretical, wherever applicable duly certified by the Engineer-in-Charge/ Site-in- Charge of the Owner.
7.3. All running account payments shall be regarded as on account payment(s) to be finally adjusted against the final bill payment. Payment of Running Account Bill(s) shall not determine or affect in any way the rights of the Owner under this Contract to make the final adjustments of the quantities of material, measurements of work and adjustments of amounts etc. in the final bill.
7.4. The final bill shall be submitted by the Contractor within one month of the date of completion of the work fully and completely in all respects. If the Contractor fails to submit the final bill accordingly Engineer-in-Charge/Site-in-Charge may make the measurement and determine the total amount payable for the work carried out by the Contractor and such a certification shall be final and binding on the Contractor. The Owner/Engineer- in-Charge/Site-in-Charge may take the assistance of an outside party for taking the measurement, the expenses of which shall be payable by the Contractor.
7.5. Payment of final bill shall be made within 30 days from the date of receipt of the certified bill by the Disbursement Section of the owner.
PAYMENT OF CONTRACTOR'S BILLS. Payments will be made against Running Accounts bills certified by the Owner's Engineer-in-Charge/Site-in-Charge within 15 days from the date of receipt of the bill.
PAYMENT OF CONTRACTOR'S BILLS. The Contractor shall submit his running bills to The Employer for the work satisfactorily done by him in the opinion of the CONSULTANT, recorded and signed jointly by the Contractor and the Employer/ his representative. Along with the bill the contractor should submit statements giving the up to-date information as required or as desired by the Employer. The minimum value of work for which running bills payment shall be claimed by the Contractor is Rs. 50 lakhs (Rupees Fifty lakhs only). The Contractor on submitting the bill shall be entitled to receive a payment proportionate to the part thereof then executed to the satisfaction of the CONSULTANT and the Employer whose certificate of the sum so payable shall be final and conclusive against the Contractor. But all such intermediate payments shall be regarded as payments by way of advance against the final payment only and not as payments for work actually done and completed. It shall not prelude the repairing out bad, unsound and imperfect or unskilled work to be removed and taken away and reconstructed or re-erected or be considered as an admission of the due performance for the contract or any part there of in any respect of the occurring of any claim not shall it conclude, determine , or affect in any way the powers of them as to the final settlement and adjustment of the accounts. Payments will be made against Running Accounts Bills certified by the Employer’s CONSULTANT within 7 days from the date of receipt of the certified bill by the Disbursement Section of the Employer. Payments shall be honored only for works executed at Site & not towards purchase of materials or advance towards the same.
