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Civil Engineering

. What are the payment provisions under JCT?

Fundamentals Of Construction Estimating

4th Edition

ISBN:9781337399395

Author:Pratt, David J.

Publisher:Pratt, David J.

Chapter8: Pricing Generally

Section: Chapter Questions

Problem 9RQ

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Question

. What are the payment provisions under JCT?

Expert Solution

Step 1

JCT Standard Building Contract 2011 payment terms are relatively complex. The system relies on the setting of a series of due dates the architect will issue interim certificates afterwards. Failure to do so makes the provisional invoice or notice of payment to the contractor the determiner of the amount to be paid. The employer can give a pay less notice if he disagrees with the amount payable

Step 2

There is provision for prepayment and re-payment, prior to obtaining a bond. Materials outside the site can be accredited subject to conditions. Money may be retained in a retention fund but must be maintained in trust in a separate bank account as the employer has the right to the interest.

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