Common use of Payment Statement Clause in Contracts

Payment Statement. The Contractor’s Representative: must, within 10 business days of receiving a payment claim submitted or purported to be submitted in accordance with clause 12.2; or may, if the Subcontractor fails to submit any such claim in accordance with clause 12.2, at any time, give the Subcontractor (with a copy to the Contractor), on behalf of the Contractor, a payment statement which is in the form set out in the Schedule of Collateral Documents and which states: the payment claim to which it relates (if any); the amount previously paid to the Subcontractor on account of the Subcontract Price and otherwise in accordance with the Subcontract; the amount (if any) which the Contractor’s Representative believes to be then payable by the Contractor to the Subcontractor on account of the Subcontract Price and otherwise in accordance with the Subcontract, and which the Contractor proposes to pay to the Subcontractor; and if the amount in paragraph (e) is less than the amount claimed in the payment claim: the reason why the amount in paragraph (e) is less than the amount claimed in the payment claim; and if the reason for the difference is that the Contractor has retained, deducted, withheld or set-off payment for any reason, the reason for the retention, deduction, withholding or setting-off. Any evaluation, or issue of a payment statement, by the Contractor’s Representative will not constitute: approval of the Subcontractor’s Activities or the Subcontract Works, nor will it be taken as an admission or evidence that the part of the Subcontractor’s Activities or the Subcontract Works covered by the payment statement has been satisfactorily carried out in accordance with the Subcontract; a waiver of the requirements of clauses 12.2 and 12.3 in relation to any payment claim other than to the extent (if any) to which the Contractor expressly waives such requirements in respect of the payment claim the subject of the payment statement; an admission or evidence of the value of the Subcontractor’s Activities or the Subcontract Works or that the Subcontractor’s Activities or the Subcontract Works comply with the Subcontract; an admission or evidence of liability; or otherwise, any approval, admission or evidence by the Contractor or the Contractor’s Representative of the Subcontractor's performance or compliance with the Subcontract.