Common use of Contract Price and Payment Clause in Contracts

Contract Price and Payment. 14.1 The Contract Price Unless otherwise stated in the Particular Conditions: the Contract Price shall be agreed or determined under Sub-Clause 12.3 [Evaluation] and be subject to adjustments in accordance with the Contract, the Contractor shall pay all taxes, duties and fees required to be paid by him under the Contract, and the Contract Price shall not be adjusted for any of these costs except as stated in Sub-Clause 13.7 [Adjustments for Changes in Legislation], any quantizes which may be set out in the Bill of Quantities or other Schedule are estimated quantities and are not to be taken as the actual and correct quantities: of the Works which the Contractor is required to execute, or for the purposes of Clause 12 [Measurement and Evaluation], and the Contractor shall submit to the Engineer, within 28 days after the Commencement Date, a proposed breakdown of each lump sum price in the Schedules. The Engineer may take account of the breakdown when preparing Payment Certificates, but shall not be bound by it. 14.2 Advance Payment The Employer shall make an advance payment, as an interest-free loan for mobilization, when the Contractor submits a guarantee in accordance with this Sub-Clause. The total advance payment, the number and timing of installments (if more than one), and the applicable currencies and proportions, shall be as stated in the Appendix to Tender. Unless and until the Employer receives this guarantee, or if the total advance payment is not stated in the Appendix to Tender, the Sub-Clause shall not apply. The Engineer shall issue an Interim Payment Certificate for the first instalment after receiving a Statement (under Sub-Clause 14.3 [Application for Interim Payment Certificate] and after the Employer receives (i) the Performance Security in accordance with Sub-Clause 4.2 [Performance Security] and (ii) a guarantee in amounts and currencies equal to the advance payment. This guarantee shall be issued by an entity and from with a country (or other jurisdiction) approved by the Employer, and shall be in the form annexed to the Particular Conditions or in another form approved by the Employer. The Contractor shall ensure that the guarantee is valid and enforceable until the advance payment has been repaid, but its amount may be progressively reduced by the amount repaid by the Contractor as indicated in the Payment Certificates. If the terms of the guarantee specify its expiry date, and the advance payment has not been repaid by the date 28 days prior to the expiry date, the Contractor shall extend the validity of the guarantee until the advance payment has been repaid. The advance payment shall be repaid through percentage deductions in Payment Certificates. Unless other percentages are stated in the Appendix to Tender. deductions shall commence in the Payment Certificate in which the total of all certified interim payments (excluding the advance payment and deductions and repayments of retention) exceeds ten per cent (10%) of the Accepted Contract Amount less Provisional Sums, and deductions shall be made at the amortization rate of one quarter (25%) of the amount of each Payment Certificate (excluding the advance payment and deductions and repayment s of retention) in the currencies and proportions of the advance payment, until time as the advance payment has been repaid. If the advance payment has not been repaid prior to the issue of the Taking-Over Certificate for the Works or prior to termination under Clause 15 [Termination by Employer], Clause 16 [Suspension and Termination by Contractor] or Clause 19 [Force Majeure] (as the case may be), the whole of the balance then outstanding shall immediately become due and payable by the Contractor to the Employer.

Contract Price and Payment. 14.1 The Contract Price Unless otherwise stated in the Particular Conditions: the Contract Price shall be agreed or determined under Sub-Clause 12.3 [Evaluation] and be subject to adjustments in accordance with the Contract, ; the Contractor shall pay all taxes, duties and fees required to be paid by him under the Contract, and the Contract Price shall not be adjusted for any of these costs except as stated in Sub-Clause 13.7 [Adjustments for Changes in Legislation], ; any quantizes quantities which may be set out in the Bill ▇▇▇▇ of Quantities or other Schedule are estimated quantities and are not to be taken as the actual and correct quantities: of the Works which the Contractor is required to execute, or for the purposes of Clause 12 [Measurement and Evaluation], ; and the Contractor shall submit to the Engineer, within 28 days after the Commencement Date, a proposed breakdown of each lump sum price in the Schedules. The Engineer may take account of the breakdown when preparing Payment Certificates, but shall not be bound by it. 14.2 . If a specific law provides for tax exemptions, reductions, allowances or privileges the Procuring Entity shall use its best efforts to enable the Supplier to benefit from any such tax exemptions, reductions, allowances or privileges. Advance Payment The Employer shall make In case the bidding document had provided for the advance payment and after the contract is signed, the Procuring entity makes an advance payment, as an interest-free loan for mobilizationmobilisation and cash flow support, when the Contractor submits a guarantee in accordance with this Sub-Clause. The total advance payment, the number and timing of installments instalments (if more than one), and the applicable currencies and proportions, shall be as stated in the Appendix to TenderContract Data. Unless and until the Employer Procuring entity receives this guarantee, or if the total advance payment is not stated in the Appendix to TenderContract Data, the this Sub-Clause shall not apply. The Engineer shall issue deliver to the Procuring entity and to the Contractor an Interim Payment Certificate for the advance payment or its first instalment after receiving a Statement (under Sub-Clause 14.3 [Application for Interim Payment Certificate] Certificates]) and after the Employer Procuring entity receives (i) the Performance Security in accordance with Sub-Clause 4.2 [Performance Security] and (ii) a guarantee in amounts and currencies equal to the advance payment. This guarantee shall be issued by an entity and from with within a country (or other jurisdiction) approved by the EmployerProcuring entity, and shall be in the form annexed to the Particular Conditions or in another form approved by the EmployerProcuring entity. The Contractor shall ensure that the guarantee is valid and enforceable until the advance payment has been repaid, but its amount may shall be progressively reduced by the amount repaid by the Contractor as indicated in the Payment Certificates. If the terms of the guarantee specify its expiry date, and the advance payment has not been repaid by the date 28 days prior to the expiry date, the Contractor shall extend the validity of the guarantee until the advance payment has been repaid. The Procuring Entity shall be entitled to retain from the Contractor’s invoices not yet paid an amount equivalent to the value of the advance payment guarantee which has expired until its effective extension to the full repayment of the advance payment. Unless stated otherwise in the Contract Data, the advance payment shall be repaid through percentage deductions from the interim payments determined by the Engineer in accordance with Sub-Clause 14.6 [Issue of Interim Payment Certificates. Unless other percentages are stated in the Appendix to Tender], as follows:. deductions shall commence in the next interim Payment Certificate following that in which the total of all certified interim payments (excluding the advance payment and deductions and repayments of retention) exceeds ten per cent 30 percent (1030%) of the Accepted Contract Amount less Provisional Sums, ; and deductions shall be made at the amortization amortisation rate of one quarter (25%) stated in the Contract Data of the amount of each Interim Payment Certificate (excluding the advance payment and deductions and repayment s of retentionfor its repayments as well as deductions for retention money) in the currencies and proportions of the advance payment, payment until such time as the advance payment has been repaid; provided that the advance payment shall be completely repaid prior to the time when 90 per cent (90%) of the Accepted Contract Amount less Provisional Sums has been certified for payment. If the advance payment has not been repaid prior to the issue of the Taking-Over Certificate for the Works or prior to termination under Clause 15 [Termination by EmployerProcuring entity], Clause 16 [Suspension and Termination by Contractor] or Clause 19 [Force Majeure] (as the case may be), the whole of the balance then outstanding shall immediately become due and in case of termination under Clause 15 [Termination by Procuring entity] and Sub-Clause 19.5 [Optional Termination, Payment and Release], payable by the Contractor to the Employer.Procuring entity Application for Interim Payment Certificates The Contractor shall submit a Statement in six copies to the Engineer after the end of each month, in a form approved by the Engineer, showing in detail the amounts to which the Contractor considers himself to be entitled, together with supporting documents which shall include the report on the progress during this month in accordance with Sub-Clause 4.21 [Progress Reports]. The Statement shall include the following items, as applicable, which shall be expressed in the various currencies in which the Contract Price is payable, in the sequence listed: the estimated contract value of the Works executed and the Contractor’s Documents produced up to the end of the month (including Variations but excluding items described in sub-paragraphs (b) to (g) below); any amounts to be added and deducted for changes in legislation and changes in cost, in accordance with Sub-Clause 13.7 [Adjustments for Changes in Legislation] and Sub-Clause 13.8 [Adjustments for Changes in Cost]; any amount to be deducted for retention, calculated by applying the percentage of retention stated in the Contract Data to the total of the above amounts, until the amount so retained by the Procuring entity reaches the limit of Retention Money (if any) stated in the Contract Data; any amounts to be added for the advance payment and (if more than one instalment) and to be deducted for its repayments in accordance with Sub-Clause 14.2 [Advance Payment]; any amounts to be added and deducted for Plant and Materials in accordance with Sub-Clause 14.5 [Plant and Materials intended for the Works]; any other additions or deductions which may have become due under the Contract or otherwise, including those under Clause 20 [Claims, Disputes and Arbitration]; and the deduction of amounts certified in all previous Payment Certificates. Schedule of Payments If the Contract includes a schedule of payments specifying the instalments in which the Contract Price will be paid, then unless otherwise stated in this schedule: the instalments quoted in this schedule of payments shall be the estimated contract values for the purposes of sub-paragraph (a) of Sub-Clause 14.3 [Application for Interim Payment Certificates]; Sub-Clause 14.5 [Plant and Materials intended for the Works] shall not apply; and if these instalments are not defined by reference to the actual progress achieved in executing the Works, and if actual progress is found to be less or more than that on which this schedule of payments was based, then the Engineer may proceed in accordance with Sub-Clause 3.5 [Determinations] to agree or determine revised instalments, which shall take account of the extent to which progress is less or more than that on which the instalments were previously based. If the Contract does not include a schedule of payments, the Contractor shall submit non-binding estimates of the payments which he expects to become due during each quarterly period. The first estimate shall be submitted within 42 days after the Commencement Date. Revised estimates shall be submitted at quarterly intervals, until the Taking-Over Certificate has been issued for the Works. Plant and Materials intended for the Works If this Sub-Clause applies, Interim Payment Certificates shall include, under sub-paragraph (e) of Sub-Clause 14.3, (i) an amount for Plant and Materials which have been sent to the Site for incorporation in the Permanent Works, and (ii) a reduction when the contract value of such Plant and Materials is included as part of the Permanent Works under sub-paragraph (a) of Sub-Clause 14.3 [Application for Interim Payment Certificates]. If the lists referred to in sub-paragraphs (b)(i) or (c)(i) below are not included in the Schedules, this Sub-Clause shall not apply. The Engineer shall determine and certify each addition if the following conditions are satisfied: the Contractor has: kept satisfactory records (including the orders, receipts, Costs and use of Plant and Materials) which are available for inspection, and submitted a statement of the Cost of acquiring and delivering the Plant and Materials to the Site, supported by satisfactory evidence; and either:

Contract Price and Payment. 14.1 9.1 The Contract Price Unless otherwise stated in the Particular Conditions: the Contract Price shall be agreed MVR [Contract Price] inclusive of any taxes, duties, fees or determined under Sub-Clause 12.3 [Evaluation] charges, payable for the Works. 9.2 All expenses towards the completion of the Works, mobilization at Site and demobilization, including bringing in equipment, workforce and Materials, dismantling the equipment, clearing the Site etc. shall be subject deemed to adjustments be included in the Contract Price. 9.3 Payment for the Works shall be made on the basis of the lump sum Contract Price and payment for the Project will be made based on the actual progress. The works shall be measured and valued for each payment in accordance with to Clause 10 [Measurement and Valuation] using the Contract, the BOQ as a progress monitoring tool. 9.4 The Contractor shall pay all taxes, duties and fees required to which shall be paid by him under inclusive in the ContractContract Price, and the Contract Price shall not be adjusted for any of these costs except as stated costs. 9.5 The Contract Price shall not be adjusted for rises or falls in inflations, currency fluctuations or any other such inputs to the Works. 9.6 Each payment shall be payable upon submission of invoice by the Contractor following completion of a portion of Works. Contractor may submit invoice at the end of each month, in a form approved by the Employer, showing in detail the amounts to which the Contractor considers himself entitled, together with supporting documents. However, payment for such a request shall be subject to inspection, acceptance and certification by the Employer, of the Works for which payment is requested, and provided that the payment request is deemed by the Employer to be reasonable and proportionate for Works completed for which the request is made. 9.7 No amount will be certified or paid until the Employer has received and approved the performance security in accordance to Clause 6 [Performance Security], and advance payment guarantee in accordance to Sub-Clause 13.7 [Adjustments 9.8. Thereafter, the Employer shall make the payment to the Contractor within 30 (Thirty) calendar days upon receipt of invoice from the Contractor for Changes in Legislation]Works completed, any quantizes which may be set out in the Bill of Quantities or other Schedule are estimated quantities and are not to be taken as the actual and correct quantities: of if the Works which the Contractor is required to execute, or for the purposes of Clause 12 [Measurement and Evaluation], and the Contractor shall submit according to the Engineer, within 28 days after Contract and acceptable to the Commencement Date, a proposed breakdown of each lump sum price in the Schedules. The Engineer may take account of the breakdown when preparing Payment Certificates, but shall not be bound by itEmployer. 14.2 Advance Payment 9.8 The Employer shall make an pay 15% of the unadjusted Contract Price as advance payment, as an interest-free loan for mobilization, when the Contractor submits payment upon submission of a guarantee in accordance with this Sub-Clause. The total advance paymentby the Contractor, the number and timing of installments (if more than one), and the applicable currencies and proportions, shall be as stated in the Appendix to Tender. Unless and until the Employer receives this guarantee, or if the total advance payment is not stated in the Appendix to Tender, the Sub-Clause shall not apply. The Engineer shall issue an Interim Payment Certificate for the first instalment after receiving a Statement (under Sub-Clause 14.3 [Application for Interim Payment Certificate] and after the Employer receives (i) the Performance Security in accordance with Sub-Clause 4.2 [Performance Security] and (ii) a guarantee in amounts and currencies equal to the advance payment. This guarantee shall be , in a form approved by the Employer and issued by an entity and from with a country (or other jurisdiction) approved by the Employer, and shall be in the form annexed to the Particular Conditions or in another form approved by the Employer. The Contractor Advance guarantee shall ensure that the guarantee is remain valid and enforceable until the advance payment has been repaid, but its amount may be progressively reduced by the amount repaid by the Contractor as indicated in the Payment Certificates. If the terms of the guarantee specify its expiry date, and the advance payment has not been repaid by the date 28 days prior to the expiry date, the Contractor shall extend the validity of the guarantee until the advance payment has been repaid. The advance payment shall will be repaid recovered through percentage deductions in Payment Certificates. Unless other percentages are stated in the Appendix to Tender. deductions shall commence in the Payment Certificate in which the total deduction of all certified interim payments (excluding the advance payment and deductions and repayments of retention) exceeds ten per cent (10%) of the Accepted Contract Amount less Provisional Sums, and deductions shall be made at the amortization rate of one quarter (25%) 15% of the amount of each Payment Certificate (excluding payment certificate. 9.9 The Contractor shall be deemed to have satisfied himself as to the advance payment correctness and deductions and repayment s sufficiency of retention) the Contract Price. Unless otherwise stated in the currencies Contract, the Contract Price covers all the Contractor’s obligations under the Contract and proportions all things necessary for the proper design, execution and completion of the advance payment, until time as Works and the advance payment has been repaid. If the advance payment has not been repaid prior to the issue remedying of the Taking-Over Certificate for the Works or prior to termination under Clause 15 [Termination by Employer], Clause 16 [Suspension and Termination by Contractor] or Clause 19 [Force Majeure] (as the case may be), the whole of the balance then outstanding shall immediately become due and payable by the Contractor to the Employerany defects.

Contract Price and Payment. 14.1 The Contract Price Unless otherwise stated in the Particular Conditions: : (a) the Contract Price shall be agreed or determined under Sub-Clause 12.3 [Evaluation] and be subject to adjustments in accordance with the Contract, ; (b) the Contractor shall pay all taxes, duties and fees required to be paid by him under the Contract, and the Contract Price shall not be adjusted for any of these costs except as stated in Sub-Clause 13.7 [Adjustments for Changes in Legislation], ; (c) any quantizes quantities which may be set out in the Bill ▇▇▇▇ of Quantities or other Schedule are estimated quantities and are not to be taken as the actual and correct quantities: : (i) of the Works which the Contractor is required to execute, or or (ii) for the purposes of Clause 12 [Measurement and Evaluation], and ; and (d) the Contractor shall submit to the Engineer, within 28 days after the Commencement Date, a proposed breakdown of each lump sum price in the Schedules. The Engineer may take account of the breakdown when preparing Payment Certificates, but shall not be bound by it. Notwithstanding the provisions of subparagraph (b), Contractor's Equipment, including essential spare parts therefor, imported by the Contractor for the sole purpose of executing the Contract shall be exempt from the payment of import duties and taxes upon importation. 14.2 Advance Payment The Employer shall make an advance payment, as an interest-free loan financing for mobilizationmobilization and cash flow support, when the Contractor submits a guarantee in accordance with this Sub-Clause. The total advance payment, the number and timing of installments (if more than one), and the applicable currencies and proportions, shall be as stated in the Appendix to TenderContract Data. Unless and until the Employer receives this guarantee, or if the total advance payment is not stated in the Appendix to TenderContract Data, the this Sub-Clause shall not apply. The Engineer shall issue deliver to the Employer and to the Contractor an Interim Payment Certificate for the advance payment or its first instalment installment after receiving a Statement (under Sub-Clause 14.3 [Application for Interim Payment Certificate] Certificates]) and after the Employer receives (i) the Performance Security in accordance with Sub-Sub- Clause 4.2 [Performance Security] and (ii) a guarantee in amounts and currencies equal to the advance payment. This guarantee shall be issued by an entity and from with a country (reputable Bank or other jurisdiction) approved financial institution selected by the Employer, Contractor and shall be in the form annexed to the Particular Conditions or in another form approved by the Employer. The Contractor shall ensure that the guarantee is valid and enforceable until the advance payment has been repaid, but its amount may shall be progressively reduced by the amount repaid by the Contractor as indicated in the Payment Certificates. If the terms of the guarantee specify its expiry date, and the advance payment has not been repaid by the date 28 days prior to the expiry date, the Contractor shall extend the validity of the guarantee until the advance payment has been repaid. The Unless stated otherwise in the Contract Data, the advance payment shall be repaid through percentage deductions from the interim payments determined by the Engineer in accordance with Sub-Clause 14.6 [Issue of Interim Payment Certificates. Unless other percentages are stated in the Appendix to Tender. ], as follows: (a) deductions shall commence in the next interim Payment Certificate following that in which the total of all certified interim payments (excluding the advance payment and deductions and repayments of retention) exceeds ten per cent 30 percent (1030%)of the Accepted Contract Amount less Provisional Sums; and (b) deductions shall be made at the amortization rate stated in the Contract Data of the amount of each Interim Payment Certificate (excluding the advance payment and deductions for its repayments as well as deductions for retention money) in the currencies and proportions of the advance payment until such time as the advance payment has been repaid; provided that the advance payment shall be completely repaid prior to the time when 90 percent (90%) of the Accepted Contract Amount less Provisional Sums, and deductions shall be made at the amortization rate of one quarter (25%) of the amount of each Payment Certificate (excluding the advance payment and deductions and repayment s of retention) in the currencies and proportions of the advance payment, until time as the advance payment Sums has been repaidcertified for payment. If the advance payment has not been repaid prior to the issue of the Taking-Over Certificate for the Works or prior to termination under Clause 15 [Termination by Employer], Clause 16 [Suspension and Termination by Contractor] or Clause 19 [Force Majeure] (as the case may be), the whole of the balance then outstanding shall immediately become due and in case of termination under Clause 15 [Termination by Employer], except for Sub-Clause 15.5 [Employer’s Entitlement to Termination for Convenience], payable by the Contractor to the Employer.

Contract Price and Payment. 14.1 9.1 The Contract Price Unless otherwise stated in the Particular Conditions: the Contract Price shall be agreed MVR [Contract Price] inclusive of any taxes, duties, fees or determined under Sub-Clause 12.3 [Evaluation] charges, payable for the Works. 9.2 All expenses towards the completion of the Works, mobilization at Site and demobilization, including bringing in equipment, workforce and Materials, dismantling the equipment, clearing the Site etc. shall be subject deemed to adjustments be included in the Contract Price. 9.3 Payment for the Works shall be made on the basis of the lump sum Contract Price upon completion and verification of the completed Works in accordance with the Contract, the to a mutually agreed Schedule of Payments. 9.4 The Contractor shall pay all taxes, duties and fees required to which shall be paid by him under inclusive in the ContractContract Price, and the Contract Price shall not be adjusted for any of these costs except as stated costs. 9.5 The Contract Price shall not be adjusted for rises or falls in inflations, currency fluctuations or any other such inputs to the Works. 9.6 Each payment shall be payable upon submission of invoice by the Contractor following completion of a portion of Works. Contractor may submit invoice at the end of each month, in a form approved by the Employer, showing in detail the amounts to which the Contractor considers himself entitled, together with supporting documents. However, payment for such a request shall be subject to inspection, acceptance and certification by the Employer, of the Works for which payment is requested, and provided that the payment request is deemed by the Employer to be reasonable and proportionate for Works completed for which the request is made. 9.7 No amount will be certified or paid until the Employer has received and approved the performance security in accordance to Clause 6 [Performance Security], and advance payment guarantee in accordance to Sub-Clause 13.7 [Adjustments 9.8. Thereafter, the Employer shall make the payment to the Contractor within 30 (Thirty) calendar days upon receipt of invoice from the Contractor for Changes in Legislation]Works completed, any quantizes which may be set out in the Bill of Quantities or other Schedule are estimated quantities and are not to be taken as the actual and correct quantities: of if the Works which the Contractor is required to execute, or for the purposes of Clause 12 [Measurement and Evaluation], and the Contractor shall submit according to the Engineer, within 28 days after Contract and acceptable to the Commencement Date, a proposed breakdown of each lump sum price in the Schedules. The Engineer may take account of the breakdown when preparing Payment Certificates, but shall not be bound by itEmployer. 14.2 Advance Payment 9.8 The Employer shall make an pay 15% of the unadjusted Contract Price as advance payment, as an interest-free loan for mobilization, when the Contractor submits payment upon submission of a guarantee in accordance with this Sub-Clause. The total advance paymentby the Contractor, the number and timing of installments (if more than one), and the applicable currencies and proportions, shall be as stated in the Appendix to Tender. Unless and until the Employer receives this guarantee, or if the total advance payment is not stated in the Appendix to Tender, the Sub-Clause shall not apply. The Engineer shall issue an Interim Payment Certificate for the first instalment after receiving a Statement (under Sub-Clause 14.3 [Application for Interim Payment Certificate] and after the Employer receives (i) the Performance Security in accordance with Sub-Clause 4.2 [Performance Security] and (ii) a guarantee in amounts and currencies equal to the advance payment. This guarantee shall be , in a form approved by the Employer and issued by an entity and from with a country (or other jurisdiction) approved by the Employer, and shall be in the form annexed to the Particular Conditions or in another form approved by the Employer. The Contractor Advance guarantee shall ensure that the guarantee is remain valid and enforceable until the advance payment has been repaid, but its amount may be progressively reduced by the amount repaid by the Contractor as indicated in the Payment Certificates. If the terms of the guarantee specify its expiry date, and the advance payment has not been repaid by the date 28 days prior to the expiry date, the Contractor shall extend the validity of the guarantee until the advance payment has been repaid. The advance payment shall will be repaid recovered through percentage deductions in Payment Certificates. Unless other percentages are stated in the Appendix to Tender. deductions shall commence in the Payment Certificate in which the total deduction of all certified interim payments (excluding the advance payment and deductions and repayments of retention) exceeds ten per cent (10%) of the Accepted Contract Amount less Provisional Sums, and deductions shall be made at the amortization rate of one quarter (25%) 15% of the amount of each Payment Certificate (excluding payment certificate. 9.9 The Contractor shall be deemed to have satisfied himself as to the advance payment correctness and deductions and repayment s sufficiency of retention) the Contract Price. Unless otherwise stated in the currencies Contract, the Contract Price covers all the Contractor’s obligations under the Contract and proportions all things necessary for the proper design, execution and completion of the advance payment, until time as Works and the advance payment has been repaid. If the advance payment has not been repaid prior to the issue remedying of the Taking-Over Certificate for the Works or prior to termination under Clause 15 [Termination by Employer], Clause 16 [Suspension and Termination by Contractor] or Clause 19 [Force Majeure] (as the case may be), the whole of the balance then outstanding shall immediately become due and payable by the Contractor to the Employerany defects.