Common use of Stage Payment for Works Clause in Contracts

Stage Payment for Works. 17.5.1 Within 10 (ten) days of receipt of the Stage Payment Statement from the Contractor pursuant to Clause 17.4, the Authority Engineer shall broadly determine the amount dueto the Contractor and recommend the release of 80 (eighty) percent of the amount so determined as part payment against the Stage Payment Statement, pending issue of the Interim Payment Certificate (IPC) by the Authority Engineer. Within 5 (five) days of the receipt of recommendation of the Authority Engineer as above, the Authority shall make electronic payment directly to the Contractor’s bank account.

Stage Payment for Works. 17.5.1 (i) Within 10 (ten) days of receipt of the Stage Payment Statement from the Contractor pursuant to Clause 17.419.4, the Authority Authority’s Engineer shall broadly determine the amount dueto due to the Contractor and recommend the release of 80 90 (eightyninety) percent of the amount so determined as part payment against the Stage Payment Statement, pending issue of the Interim Payment Certificate (IPC) by the Authority Authority’s Engineer. Within 5 10 (fiveten) days of the receipt of recommendation of the Authority Engineer as aboveAuthority’s Engineer, the Authority shall make electronic payment directly to the Contractor’s bank account.