Stage Payment for Works Sample Clauses

The 'Stage Payment for Works' clause defines how payments for a project or contract are divided and made at specific milestones or stages of completion. Typically, the contractor or service provider receives a portion of the total payment after completing predefined phases, such as design, delivery of materials, or final installation. This approach ensures that the contractor is compensated progressively as work advances, reducing financial risk for both parties and incentivizing timely performance while providing the client with assurance that payments correspond to actual progress.
Stage Payment for Works. 19.5.1 Within 10 (ten) days of receipt of the Stage Payment Statement from the Contractor pursuant to Clause 19.4, the Authority’s Engineer shall broadly determine the amount due to the Contractor and recommend the release of 90 (ninety) percent of the amount so determined as part payment against the Stage Payment Statement, pending issue of the Interim Payment Certificate by the Authority’s Engineer. Within 10 (ten) days of the receipt of recommendation of the Authority’s Engineer, the Authority shall make electronic payment directly to the Contractor’s bank account. 19.5.2 Within 15 (fifteen) days of the receipt of the Stage Payment Statement referred to in Clause 19.4, the Authority’s Engineer shall determine and shall deliver to the Authority and the Contractor an IPC certifying the amount due and payable to the Contractor, after adjusting the payments already released to the Contractor against the said statement. For the avoidance of doubt, the Parties agree that the IPC shall specify all the amounts that have been deducted from the Stage Payment Statement and the reasons therefor. 19.5.3 In cases where there is a difference of opinion as to the value of any stage, the Authority’s Engineer’s view shall prevail and interim payments shall be made to the Contractor on this basis; provided that the foregoing shall be without prejudice to the Contractor’s right to raise a Dispute. 19.5.4 The Authority’s Engineer may, for reasons to be recorded, withhold from payment: (a) the estimated value of work or obligation that the Contractor has failed to perform in accordance with this Agreement and the Authority’s Engineer had notified the Contractor; and (b) the estimated cost of rectification of work done being not in accordance with this Agreement. 19.5.5 Payment by the Authority shall not be deemed to indicate the Authority's acceptance, approval, consent or satisfaction with the work done.
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Stage Payment for Works. 19.5.1 Within 7 (seven) days of receipt of the Stage Payment Statement from the Contractor pursuant to Clause 19.4, the Employer’s Engineer shall broadly determine the amount due to the Contractor and recommend the release of 90 (ninety) percent of the amount so determined as part payment against the Stage Payment Statement, pending issue of the Interim Payment Certificate by the Employer’s Engineer. Within 7 (seven) days of the receipt of recommendation of the Employer’s Engineer, the Employer shall make electronic payment directly to the Contractor’s bank account. 19.5.2 Within 15 (fifteen) days of the receipt of the Stage Payment Statement referred to in Clause 19.4, the Employer’s Engineer shall determine and shall deliver to the Employer and the Contractor an IPC certifying the amount due and payable to the Contractor, after adjusting the payments already released to the Contractor against the said statement. For the avoidance of doubt, the Parties agree that the IPC shall specify all the amounts that have been deducted from the Stage Payment Statement and the reasons therefor. 19.5.3 In cases where there is a difference of opinion as to the value of any stage, the Employer’s Engineer’s view shall prevail and interim payments shall be made to the Contractor on this basis; provided that the foregoing shall be without prejudice to the Contractor’s right to raise a Dispute. 19.5.4 The Employer’s Engineer may, for reasons to be recorded, withhold from payment: (a) the estimated value of work or obligation that the Contractor has failed to perform in accordance with this Agreement and the Employer’s Engineer had notified the Contractor; and (b) the estimated cost of rectification of work done being not in accordance with this Agreement. 19.5.5 Payment by the Employer shall not be deemed to indicate the Employer's acceptance, approval, consent or satisfaction with the work done.
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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.
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Stage Payment for Works. (i) Within 10 (ten) days of receipt of the Stage Payment Statement from the Contractor pursuant to Clause 19.4, the Authority’s Engineer shall broadly determine the amount due to the Contractor and recommend the release of 90 (ninety) percent of the amount so determined as part payment against the Stage Payment Statement, pending issue of the Interim Payment Certificate by the Authority’s Engineer. Within 10 (ten) days of the receipt of recommendation of the Authority’s Engineer, the Authority shall make electronic payment directly to the Contractor’s bank account. (ii) Within 15 (fifteen) days of the receipt of the Stage Payment Statement referred to in Clause 19.4, the Authority’s Engineer shall determine and shall deliver to the Authority and the Contractor an IPC certifying the amount due and payable to the Contractor, after adjusting the payments already released to the Contractor against the said statement. For the avoidance of doubt, the Parties agree that the IPC shall specify all the amounts that have been deducted from the Stage Payment Statement and the reasons therefore.
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Stage Payment for Works. 19.5.1 Within 15 (fifteen) days of the receipt of the Stage Payment Statement referred to in Clause 19.4, the Employer‟s Engineer shall determine and shall deliver to the Employer and the Contractor an IPC certifying the amount due and payable to the Contractor, after adjusting the payments already released, if any to the Contractor. Within 15 (fifteen) days of the receipt of IPC certificate, the Employer shall pay the contractor the approved/certificate sum against the said IPC. 19.5.2 In cases where there is a difference of opinion as to the value of any stage, the Employer‟s Engineer‟s view shall prevail and interim payments shall be made to the Contractor on this basis; provided that the foregoing shall be without prejudice to the Contractor‟s right to raise a Dispute. 19.5.3 The Employer‟s Engineer may, for reasons to be recorded, withhold from payment: (a) the estimated value of work or obligation that the Contractor has failed to perform in accordance with this Agreement and the Employer‟s Engineer had notified the Contractor; and (b) the estimated cost of rectification of work done being not in accordance with this Agreement. 19.5.4 Payment by the Employer shall not be deemed to indicate the Employer's acceptance, approval, consent or satisfaction with the work done.
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Related to Stage Payment for Works

  • PAYMENT FOR WORK The H-GAC Customer is responsible for making payment to the Contractor upon delivery and acceptance of the goods or completion of the services and submission of the subsequent invoice.

  • Payment for Working Overtime (a) For all work done outside ordinary hours, the rates of pay will be time and a half for the first two hours and double time thereafter. (b) Except as provided in clause 8.4, in computing overtime each day’s work will stand alone. (c) To avoid doubt, overtime provisions for shift workers are contained in clause 10.7.

  • Payment for Improvements If payment is made directly to contractors, Tenant shall (i) comply with Landlord's requirements for final lien releases and waivers in connection with Tenant's payment for work to contractors, and (ii) sign Landlord's standard contractor's rules and regulations. If Tenant orders any work directly from Landlord, Tenant shall pay to Landlord an amount equal to five percent of the cost of such work to compensate Landlord for all overhead, general conditions, fees and other costs and expenses arising from Landlord's involvement with such work. If Tenant does not order any work directly from Landlord, Tenant shall reimburse Landlord for Landlord's reasonable, actual, out-of-pocket costs and expenses actually incurred in connection with Landlord's review of such work.

  • Payment for Overtime 1. Except as provided in 2.C.3., below, overtime shall be compensated at one and one-half (1 1/2) times the regular rate. 2. Except as provided in 2.C.3., below, for all regular, limited-term and probationary employees, overtime may be converted to compensatory time or paid for at the option of the agency/department. Consideration shall be given to effectuating the wishes of employees. The maximum number of CTO hours which may be accrued by any employee is eighty (80). If an employee accrues 80 hours of CTO, he/she cannot accrue additional CTO until he/she uses some of the hours in his/her bank; instead, employees will be paid for all overtime work performed in excess of that amount. 3. Overtime hours worked by extra help employees shall be paid. 4. Compensatory time earned and accrued by an employee in excess of thirty-two (32) hours may be scheduled off for an employee by his or her agency/department; however, consideration shall be given to effectuating the wishes of those employees requesting specific compensatory time off periods. 5. No scheduled compensatory time off will be cancelled except in cases of emergency. 6. In no case may an employee's work schedule be changed during the workweek when the purpose of such change is to avoid overtime compensation. 7. Time worked as overtime shall not be used to earn fringe benefits or to serve out probation or merit increase periods. Compensatory time off may be used as part of the established workweek to earn fringe benefits and to serve out probationary and merit increase periods. 8. An employee separating from the County service shall be paid for accumulated compensatory time in a lump sum payment.

  • Payment for Labor and Materials (a) Borrower will promptly pay when due all bills and costs for labor, materials, and specifically fabricated materials ("LABOR AND MATERIAL COSTS") incurred in connection with the Property and never permit to exist beyond the due date thereof in respect of the Property or any part thereof any lien or security interest, even though inferior to the liens and the security interests hereof, and in any event never permit to be created or exist in respect of the Property or any part thereof any other or additional lien or security interest other than the liens or security interests hereof except for the Permitted Encumbrances. (b) After prior written notice to Lender, Borrower, at its own expense, may contest by appropriate legal proceeding, promptly initiated and conducted in good faith and with due diligence, the amount or validity or application in whole or in part of any of the Labor and Material Costs, provided that (i) no Event of Default has occurred and is continuing under the Loan Agreement, the Note, this Security Instrument or any of the other Loan Documents, (ii) Borrower is permitted to do so under the provisions of any other mortgage, deed of trust or deed to secure debt affecting the Property, (iii) such proceeding shall suspend the collection of the Labor and Material Costs from Borrower and from the Property or Borrower shall have paid all of the Labor and Material Costs under protest, (iv) such proceeding shall be permitted under and be conducted in accordance with the provisions of any other instrument to which Borrower is subject and shall not constitute a default thereunder, (v) neither the Property nor any part thereof or interest therein will be in danger of being sold, forfeited, terminated, canceled or lost, and (vi) Borrower shall have furnished the security as may be required in the proceeding, or as may be reasonably requested by Lender to insure the payment of any contested Labor and Material Costs, together with all interest and penalties thereon.