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What is Construction Contract Payment Terms about?

Construction contracts involve large sums of money spent over long periods. Interim payments are made as work progresses to provide cash flow to contractors. There are different methods for calculating interim payments. The roles and responsibilities of parties like architects, quantity surveyors, employers, and contractors are defined regarding interim certificates and payments. Delay can lead to contractors claiming compensation if caused by the employer, and processes exist for assessing related losses a

Author

Abd Aziz Mohamed

Language

EN