Application for Interim Payments Clause Samples
The 'Application for Interim Payments' clause establishes the process by which a party, typically a contractor, can request partial payments for work completed before the final project is finished. This clause outlines the timing, documentation, and procedures required for submitting interim payment applications, such as providing progress reports or invoices at specified intervals. Its core function is to ensure that the party performing the work receives timely compensation for ongoing progress, thereby supporting cash flow and reducing financial strain during long-term projects.
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Application for Interim Payments. The Contractor shall submit a Statement in six copies to the Contract Awarder after the end of the period of payment stated in the Contract (if not stated, after the end of each month), in a form approved by the Contract Awarder, showing in detail the amounts to which the Contractor considers himself to be entitled, together with supporting documents which shall include the relevant report on progress 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:
(a) 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 (f) below);
(b) 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 SubClause 13.8 [Adjustments for Changes in Cost];
(c) any amount to be deducted for retention, calculated by applying the percentage of retention stated in the Contract Agreement to the total of the above amounts, until the amount so retained by the Contract Awarder reaches the limit of Retention Money (if any) stated in the Contract Agreement;
(d) any amounts to be added and deducted for the advance payment and repayments in accordance with Sub-Clause 14.2 [Advance Payment];
(e) 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
(f) the deduction of amounts included in previous Statements.
Application for Interim Payments. The Contract Price shall be payable at the end of each m onth c ommencing on the C ommencement D ate i n accordance with the Schedule of Milestones set out in Annex D (Schedule of Milestones). Each interim payment shall include the Contract Price payable in respect of each Milestone completed during the period of payment.
Application for Interim Payments. 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. If applicable, the first estimate shall be submitted within 14 (Fourteen) days after the Commencement Date. Revised estimates shall be submitted at quarterly intervals, until the Taking-Over Certificate has been issued for the Works.
Application for Interim Payments. The Contractor shall submit a Statement in six copies to the Contract Awarder after the end of the period of payment stated in the Contract (if not stated, after the end of each month), in a form approved by the Contract Awarder, showing in detail the amounts to which the Contractor considers himself to be entitled, together with supporting documents which shall include the relevant report on progress 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:
(a) 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 (f) below);
(b) 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 SubClause 13.8 [Adjustments for Changes in Cost];
(c) [Not used]
(d) any amounts to be added and deducted for the advance payment and repayments in accordance with Sub-Clause 14.2 [Advance Payment];
(e) 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
(f) the deduction of amounts included in previous Statements.
Application for Interim Payments. 期中付款的申请 The Contractor shall submit a Statement in six copies to the Employer after the end of the period of payment stated in the Contract (if not stated, after the end of each month), in a form approved by the Employer, showing in detail the amounts to which the Contractor considers himself to be entitled, together with supporting documents which shall include the relevant report on progress in accordance with Sub-Clause 4.21 [Progress Reports]. 承包商应在合同规定的支付期限末(如无规定,则在每月月末)后,按雇主批准的格式,向雇主提交一式六份报表,详细说明承包商自己认为有权得到的款额,以及包括按第 4.21 款[进度报告]的规定编制的相关进度报告在内的证明文件。 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: 适用时,该报表应包括下列项目,以合同价格应付的各种货币表示,并按下列顺序排列: （a）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 (f) below); 截至月末已实施的工程和已提出的承包商文件的估算合同价值(包括各项变更,但不包括以下(b)至(f)项所列项目)； （ b ） 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