Common use of Payment of the Contract Price Clause in Contracts

Payment of the Contract Price. 5.1 Option 1 (progress draws) - Payment of the Contract Price shall be made by the Employer to the Contractor in the following progress payment instalments: 5.1.1. The first instalment being 50% (Fifty) of the Contract Price shall be paid on completion of the first section of the Works namely: 5.1.1.1. All foundations completed, and 5.1.1.2. Brickwork to plinth height, backfilling and floors cast, and 5.1.1.3. Brickwork internal and external walls completed except gables and beam filling. 5.1.2. The second instalment being 30% (Thirty) of the Contract Price shall be paid on completion of the second section of the Works namely: 5.1.2.1. Roof trusses and roof covering, and 5.1.2.2. Brickwork gables and beam filling completed, and 5.1.2.3. Internal and external walls plastered, and 5.1.2.4. Ceilings and cornices fixed, and 5.1.2.5. Cupboard carcasses fitted, and 5.1.2.6. Doors hung with locks fitted, and 5.1.2.7. Electrical tubing fitted, and 5.1.2.8. Plumbing pipes and drainage fitted, and

Payment of the Contract Price. 5.1 Option 1 (progress draws) - Payment of the Contract Price shall be made by the Employer to the Contractor in the following progress payment instalments: 5.1.1. The first instalment being 5025% (FiftyTwenty-Five) of the Contract Price shall be paid on completion of the first section of the Works namely: 5.1.1.1. All foundations completed, and 5.1.1.2. Brickwork to plinth slab height, backfilling and floors castcast on ground floor, and 5.1.1.3. Brickwork internal and external walls completed except gables and beam fillingon ground floor. 5.1.2. The second instalment being 25% (Twenty-Five) of the Contract Price shall be paid on completion of the first section of the Works namely: 5.1.2.1. First floor slab completed, and 5.1.2.2. Brickwork to plinth height, internal and external walls completed except gables. 5.1.3. The third instalment being 30% (Thirty) of the Contract Price shall be paid on completion of the second section of the Works namely: 5.1.2.15.1.3.1. Roof trusses and roof covering, and 5.1.2.25.1.3.2. Brickwork gables and beam filling completed, and 5.1.2.35.1.3.3. Internal and external walls plastered, and 5.1.2.45.1.3.4. Ceilings and cornices fixed, and 5.1.2.55.1.3.5. Cupboard carcasses fitted, and 5.1.2.65.1.3.6. Doors hung with locks fitted, and 5.1.2.75.1.3.7. Electrical tubing fitted, and 5.1.2.85.1.3.8. Plumbing pipes and drainage fitted, and

Payment of the Contract Price. 5.1 Option 1 (progress draws) - Payment of the Contract Price shall be made by the Employer to the Contractor in the following progress payment instalments: 5.1.1. The first instalment being 5035% (FiftyThirty Five) of the Contract Price shall be paid on completion of the first section of the Works namely: 5.1.1.1. All foundations completed, and 5.1.1.2. Brickwork to plinth height, backfilling and floors cast, and 5.1.1.3. Brickwork internal and external walls completed except gables and beam filling. 5.1.2. The second instalment being 3045% (ThirtyFourty Five) of the Contract Price shall be paid on completion of the second section of the Works namely: 5.1.2.1. Roof trusses and roof covering, and 5.1.2.2. Brickwork gables and beam filling completed, and 5.1.2.3. Internal and external walls plastered, and 5.1.2.4. Ceilings and cornices fixed, and 5.1.2.5. Cupboard carcasses fitted, and 5.1.2.6. Doors hung with locks fitted, and 5.1.2.7. Electrical tubing fitted, and 5.1.2.8. Plumbing pipes and drainage fitted, and