Common use of Payment Statements Clause in Contracts

Payment Statements. 67.1 At the beginning of each month the Contractor may apply to the Engineer for an interim payment in relation to the preceding month. Each application shall state: - 89/105 - (a) the amount claimed to be payable pursuant to Clause 67.2 (a) setting out the percentage of each Cost Centre Value claimed according to the Interim Payment Schedule; and (b) any other amount claimed to be payable pursuant to a decision of the Engineer identifying the relevant decision. As a condition precedent to consideration by the Engineer of any such application for payment submitted by the Contractor, each application shall be accompanied by the Monthly Progress Report for the month to which the application relates. 67.2 Within 30 (thirty) days following receipt of an application in accordance with Clause 67.1, the Engineer shall issue to the Employer, with a copy to the Contractor, an interim payment certificate showing the amount payable by the Employer to the Contractor by way of interim payment. The interim payment shall be the sum of: (a) the amounts shown to be due for the month in respect of which the application is made by reference to the Interim Payment Schedule in accordance with Clause 66; and (b) the amounts assessed and decided by the Engineer to be due in respect of: (i) Cost incurred, pursuant to Clause 57; (ii) work executed on a daywork basis, pursuant to Clause 55; and (iii) any other amount or allowance to which the Contractor is entitled under the Contract save insofar as account has been or will be taken of the amount or allowance by way of a revision of a Cost Centre Value pursuant to Clause 66.2; less: (c) the Retention Moneys as provided for in Clause 68; and (d) any amount certified for payment on interim payment certificates previously issued. 67.3 Subject to any deduction, withholding or condition precedent pursuant to the Contract, amounts from time to time certified by the Engineer (including, without limitation, pursuant to Clause 68) shall be paid in Hong Kong by the Employer to the Contractor within 21 (twenty-one) days after the date of - 90/105 - issue of the relevant certificate in accordance with the Contract. Unless otherwise expressly provided, all payments (including, without limitation, in respect of decisions of the Engineer pursuant to Clauses 56 and 57 or otherwise) shall be made either in Hong Kong Dollars or United States Dollars, as appropriate, depending in which of those currencies the Tender Total is denominated in the Pricing Document. No adjustment shall be made to any payment or to the Final Contract Sum on account of any variation in the exchange rate between the Hong Kong dollar and any other currency. 67.4 If either the Employer or the Contractor fails to make payment of amounts due in accordance with the Contract within 21 (twenty-one) days after the date of issue of the relevant certificate, the Employer shall pay to the Contractor, or the Contractor shall pay to the Employer as the case may be, simple interest upon any payment overdue at the Contract Rate of Interest. 67.5 The Engineer shall have power to omit from any certificate the value of any work with which he may for the time being be dissatisfied and for that purpose, or if he considers that the Contractor has been overpaid under any interim payment certificate, he may by any certificate delete, correct or modify any sum previously certified by him. 67.6 Without prejudice to Clause 3.8, no payment certificate issued by the Engineer shall be conclusive evidence that the quality of materials or the standard of workmanship used by the Contractor in the execution of the Works are in accordance with the Contract.