Final Payment Statement Sample Clauses
The Final Payment Statement clause outlines the process and requirements for submitting a comprehensive summary of all payments due at the conclusion of a contract or project. Typically, this clause requires the contractor or service provider to prepare and deliver a detailed statement listing all completed work, outstanding balances, and any adjustments for previous payments or approved changes. Its core practical function is to ensure both parties have a clear, agreed-upon record of financial obligations before final settlement, thereby reducing the risk of disputes over payment at the end of the contractual relationship.
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Final Payment Statement. 19.13.1 Within 60 (sixty) days after receiving the Completion Certificate under Clause 12.4, the Contractor shall submit to the Authority’s Engineer for consideration six copies of a Final Payment Statement (the “Final Payment Statement”) for Works, with supporting documents showing in detail, in the form prescribed by the Authority’s Engineer:
(a) the summary of Contractor’s Stage Payment claims for Works as submitted in accordance with Clause 19.4;
(b) the amounts received from the Authority against each claim; and
(c) any further sums which the Contractor considers due to it from the Authority. If the Authority’s Engineer disagrees with or cannot verify any part of the Final Payment Statement, the Contractor shall submit such further information as the Authority’s Engineer may reasonably require. The Authority’s Engineer shall deliver to the Authority:
(i) an IPC for those parts of the Final Payment Statement which are not in dispute, along with a list of disputed items which shall then be settled in accordance with the provisions of Article 26; or
(ii) a Final Payment Certificate in accordance with Clause 19.15 if there are no disputed items.
19.13.2 If the Authority’s Engineer does not prescribe the form referred to in Clause 19.13.1 within 15 (fifteen) of the date of issue of the Completion Certificate, the Contractor shall submit the statement in such form as it deems fit.
Final Payment Statement. 17.10.1 Within 60 (sixty) days ofreceiving the Completion Certificate under Clause 12.4, the Contractor shall submit to the Authority Engineer six copies of a final payment statement (the “Final Payment Statement”), with supporting documents, in the form prescribed by the Authority Engineer:
(a) the summary of Contractor’s Stage Payment Statements for Works as submitted in accordance with Clause 17.4;
(b) the amounts received from the Authority against each claim; and
(c) any further sums which the Contractor considers due to it from the Authority. If the Authority Engineer disagrees with or cannot verify any part of the Final Payment Statement, the Contractor shall submit such further information as the Authority Engineer may reasonably require.The Authority Engineer shall deliver to the Authority:
(i) an IPC for those parts of the Final Payment Statement which are not in dispute, along with a list of disputed items which shall then be settled in accordance with the provisions of Article 24; or
(ii) a Final Payment Certificate in accordance with Clause 17.15, if there are no disputed items.
Final Payment Statement. 19.13.1 Within 60 (sixty) days after receiving the Completion Certificate under Clause 12.4, the Contractor shall submit to the Employer’s Engineer for consideration six copies of a Final Payment Statement (the “Final Payment Statement”) for Works, with supporting documents showing in detail, in the form prescribed by the Employer’s Engineer:
(a) the summary of Contractor’s Stage Payment claims for Works as submitted in accordance with Clause 19.4;
(b) the amounts received from the Employer against each claim; and
(c) any further sums which the Contractor considers due to it from the Employer. If the Employer’s Engineer disagrees with or cannot verify any part of the Final Payment Statement, the Contractor shall submit such further information as the Employer’s Engineer may reasonably require. The Employer’s Engineer shall deliver to the Employer:
(i) an IPC for those parts of the Final Payment Statement which are not in dispute, along with a list of disputed items which shall then be settled in accordance with the provisions of Article 26; or
(ii) a Final Payment Certificate in accordance with Clause 19.15 if there are no disputed items.
19.13.2 If the Employer’s Engineer does not prescribe the form referred to in Clause 19.13.1 within 15 (fifteen) of the date of issue of the Completion Certificate, the Contractor shall submit the statement in such form as it deems fit.
Final Payment Statement i. Within 30 (thirty) days after receiving the Works Completion Certificate under Clause 11.6, the Contractor shall submit to the Authority and DTA for consideration 6 (six) copies of a Final Payment Statement (the “Final Payment Statement”) for Works, with supporting documents showing in detail, in the form prescribed by the DTA:
a. the amounts received from the Authority against each claim; and
b. any further sums which the Contractor considers due to it from the Authority.
ii. If the DTA disagrees with or cannot verify any part of the Final Payment Statement, the Contractor shall submit such further information as the DTA may reasonably require. The DTA shall deliver to the Authority:
a. an Interim Payment Certificate for those parts of the Final Payment Statement which are not in dispute, along with a list of disputed items which shall then be settled in accordance with the provisions of Article 18; or
b. a Final Payment Certificate in accordance with Clause 10.6 if there are no disputed items.
iii. If the DTA does not prescribe the form referred to in Clause 10.4 (i) within 15 (fifteen) days of the date of issue of the Works Completion Certificate, the Contractor shall submit the statement in such form as it deems fit.
Final Payment Statement. 19.13.1 Within 60 (sixty) days after receiving the Completion Certificate under Clause 12.4, the Contractor shall submit to the Authority’s Engineer for consideration six copies of a Final Payment Statement (the “Final Payment Statement”) for Works, with supporting documents showing in detail, in the form prescribed by the Authority’s Engineer:
Final Payment Statement. 14.5.1 Within 60 (sixty) days after receiving the Completion Certificate the Contractor shall submit to the EIC for consideration six copies of a Final Payment Statement as per approved format by EIC/PMC (the “Final Payment Statement”) for Works, with supporting documents showing in detail, in the form prescribed by the EIC/PMC:
(a) the summary of Contractor’s interim Payment claims for Works as submitted in accordance with contract;
(b) the amounts received from the RSCL against each claim; and
(c) any further sums which the Contractor considers due to it from the RSCL. If the EIC/PMC disagrees with or cannot verify any part of the Final Payment Statement, the Contractor shall submit such further information as the EIC/PMC may reasonably require. The EIC/PMC Engineer shall deliver to the RSCL:
Final Payment Statement. (i) Within 60 (sixty) days after receiving the Completion Certificate under Clause 12.2, the Contractor shall submit to the Authority’s Engineer for consideration 6 (six) copies of a Final Payment Statement (the “Final Payment Statement”) for Works, with supporting documents showing in detail, in the form prescribed by the Authority’sEngineer:
(a) the summary of Contractor’s Stage Payment claims for Works as submitted in Accordance with Clause 19.4;
(b) the amounts received from the Authority against each claim; and
(c) any further sums which the Contract or considers due to it from the Authority. If the Authority’s Engineer disagrees with or cannot verify any part of the Final Payment Statement, the Contractor shall submit such further informationas the Authority’s Engineer may reasonably require. The Authority’s Engineer shall deliver to the Authority:
i. an IPC for those parts of the Final Payment Statement which are not indispute, along with a list of disputed items which shall then be settled inaccordance with the provisions of Article 26; or
ii. a Final Payment Certificate in accordance with Clause 19.15 if there are no disputed items.
(ii) If the Authority’s Engineer does not prescribe the form referred to in Clause 19.13 (i) within 15 (fifteen) of the date of issue of the Completion Certificate, the Contractor shall submit the statement in such form as it deems fit.
Final Payment Statement. 17.10.1 Within 60 (sixty) days of receiving the Completion Certificate under Clause 12.4, the Contractor shall submit to the SPV’s Engineer six copies of a final payment statement (the “Final Payment Statement”), with supporting documents, in the form prescribed by the SPV’s Engineer :
(a) the summary of Contractor’s Stage Payment Statements for Works as submitted in accordance with Clause 17.4;
(b) the amounts received from the SPV against each claim; and
(c) any further sums which the Contractor considers due to it from the Authority. If the SPV’s Engineer disagrees with or cannot verify any part of the Final Payment Statement, the Contractor shall submit such further information as the SPV’s Engineer may reasonably require.The SPV’s Engineer shall deliver to the Authority:
(i) an IPC for those parts of the Final Payment Statement which are not in dispute, along with a list of disputed items which shall then be settled in accordance with the provisions of Article 24; or
(ii) a Final Payment Certificate in accordance with Clause 17.15, if there are no disputed items.