Common use of Milestone Progress Payments Clause in Contracts

Milestone Progress Payments. The Contractor shall give the Superintendent a notice once any of the Works described in column “A” of the table below have been completed (Payment Claim). The Superintendent shall, within fourteen (14) days of receipt of a Payment Claim, determine (and notify the Contractor of its determination) whether that milestone has been attained, and if so, the amount payable by the Principal to the Contractor, being that portion of the Contract Price mentioned opposite such Works in column “B” of the table (which is inclusive of GST), having taken into account any adjustments in accordance with clause 29.3 (Progress Certificate). If the Superintendent fails to issue a Progress Certificate within fourteen (14) days, the Superintendent is deemed to determined, at the end of the fourteen (14) day period that the milestone has not been attained. Payment of a milestone payment shall be made by the Principal within fourteen (14) days after the issue of the Progress Certificate. If the Works comprises of more than one dwelling, then the milestone described in column “A” of the table below must have been completed for all dwellings before the Contractor can make a Payment Claim under this item (and this is irrespective of whether or not item 11 of this Appendix A permits the Works to be completed in Stages). If the Contract Price is adjusted under the Contract, the amount of the remaining Progress Payments shall be adjusted in the manner reasonably determined by the Superintendent to ensure that there is no underpayment or overpayment of the Contract Price.

Milestone Progress Payments. (Note – this option shall be considered for predominantly single or grouped dwellings projects.) All payments under the Contract are contingent upon the Contract becoming unconditional including, where applicable, the Principal becoming the registered proprietor of the land on which any of the individual units, dwellings or apartments comprised in the Works are to be constructed. The Contractor shall give the Superintendent a notice once any of the Works described in column “A” of the table below have been completed (Payment Claim)completed. The Superintendent shall, within fourteen (14) 10 days of receipt of a Payment Claimsuch notice, determine (and notify the Contractor of its determination) whether if that milestone has been attained, and if so. If the Superintendent fails to notify the Contractor of its determination within 10 days, the amount payable by Superintendent is deemed to determined, at the end of the 10 day period that the milestone has not been attained. The Principal shall pay to the Contractor, being Contractor that portion of the Contract Price mentioned opposite such Works in column “B” of the table (which is inclusive of GST), ) (having taken into account any adjustments in accordance with clause 29.3 (Progress Certificate). If the Superintendent fails to issue a Progress Certificate within fourteen (1429.3) days, the Superintendent is deemed to determined, at the end of the fourteen (14) day period that the milestone has not been attained. Payment of a milestone payment shall be made by the Principal within fourteen (14) days after the issue of Superintendent determines that the Progress Certificatemilestone has been attained. If the Works comprises of more than one dwelling, then the milestone described in column “A” of the table below must have been completed for all dwellings before the Contractor can make give a Payment Claim notice under this item (and this is irrespective of whether or not item 11 of this Appendix A permits the Works to be completed in Stages). If the Contract Price is adjusted under the Contract, the amount of the remaining Progress Payments shall be adjusted in the manner reasonably determined by the Superintendent to ensure that there is no underpayment or overpayment of the Contract Price.. (Single and Group Dwelling)

Milestone Progress Payments. The Contractor shall give the Superintendent a notice once any of the Works described in column “A” of the table below have been completed (Payment Claim)completed. The Superintendent shall, within fourteen (14) 10 days of receipt of a Payment Claimsuch notice, determine (and notify the Contractor of its determination) whether if that milestone has been attained, and if so. If the Superintendent fails to notify the Contractor of its determination within 10 days, the amount payable by Superintendent is deemed to determined, at the end of the 10 day period that the milestone has not been attained. The Principal shall pay to the Contractor, being Contractor that portion of the Contract Price mentioned opposite such Works in column “B” of the table (which is inclusive of GST), ) (having taken into account any adjustments in accordance with clause 29.3 (Progress Certificate). If the Superintendent fails to issue a Progress Certificate within fourteen (1429.3) days, the Superintendent is deemed to determined, at the end of the fourteen (14) day period that the milestone has not been attained. Payment of a milestone payment shall be made by the Principal within fourteen (14) days after the issue of Superintendent determines that the Progress Certificatemilestone has been attained. If the Works comprises of more than one dwellingdwelling , then the milestone described in column “A” of the table below must have been completed for all dwellings before the Contractor can make give a Payment Claim notice under this item (and this is irrespective of whether or not item 11 of this Appendix A permits the Works to be completed in Stages). If the Contract Price is adjusted under the Contract, the amount of the remaining Progress Payments shall be adjusted in the manner reasonably determined by the Superintendent to ensure that there is no underpayment or overpayment of the Contract Price.