Examples of Payment Certificate in a sentence
The total amount recovered in each Interim Payment Certificate shall be equal to 30% (thirty per cent) of the amount of interim payment due and payable under such Interim Payment Certificate, and interest on the amount being recovered to be calculated from the date of disbursement of the Advance Payment to the date of recovery until the entire Advance Payment together with interest is recovered.
For the avoidance of doubt, before issuing the Final Payment Certificate, the Authority Engineer shall ascertain from the Authority all amounts previously paid by the Authority, all sums due to the Authority, and the balance, if any, due from the Authority to the Contractor or from the Contractor to the Authority, as the case may be.
Provided that such discharge shall become effective only after the payment due has been made in accordance with the Final Payment Certificate issued pursuant to Clause 17.12.
For the avoidance of doubt, the Parties agree that in the event the total payment specified in any Interim Payment Certificate exceeds the limit of 50% (fifty per cent) of the Contract Price, the proportionate of recovery hereunder shall be restricted to the amount exceeding 50% (fifty per cent) of the Contract Price.
The Authority Engineer may by an Interim Payment Certificate make any correction or modification in any previous Interim Payment Certificate issued by the Authority Engineer.