Common use of Payment/Remuneration Clause in Contracts

Payment/Remuneration.  Owner shall pay the Contractor the sum, indicated in schedule 1 and Inclusive of VAT, by cheque or direct debit as agreed between the parties [include deposit if any, retention money etc]. This amount represents the entire amount due by the Owner and is inclusive of all direct and indirect taxes.  The parties agree that the Contractor will carry out the works at the rates stipulated in the attached ▇▇▇▇ of quantities.  Expenses including provision of water and electricity, cleaning of the site and other charges to carry out the job are to be borne by the Contractor  The parties agree that all works are to be measured and certified by the site manager or by the architect representing the Owner.  The architect or site manger obliges himself to measure within two weeks from completion of works.  The architect or site manager is to issue hand over certificates when other trades move in.  The architect or site manager is to issue Certificate of completion of works after necessary inspection is carried out and after any defects in the works are noted and addressed.  The architect or site manager can issue extra works up to a total value not exceeding 30% of the contract value. Similarly, the site manager or the architect can reduce the scope of works by 20% of the contract value.  Any changes to price in material shall be discussed with architect, Owner and Contractor. Any adjustments, if justified, are to be approved by the architect.

Payment/Remuneration.  Owner shall pay the Contractor the sum, indicated in schedule 1 and Inclusive of VAT, by cheque or direct debit as agreed between the parties [include deposit if any, retention money etc]. This amount represents the entire amount due by the Owner and is inclusive of all direct and indirect taxes.  • The parties agree that the Contractor will carry out the works at the rates stipulated in the attached ▇▇▇▇ bill of quantities.  • Expenses including provision of water and electricity, cleaning of the site and other charges to carry out the job are to be borne by the Contractor  • The parties agree that all works are to be measured and certified by the site manager or by the architect representing the Owner.  • The architect or site manger obliges himself to measure within two weeks from completion of works.  • The architect or site manager is to issue hand over certificates when other trades move in.  • The architect or site manager is to issue Certificate of completion of works after necessary inspection is carried out and after any defects in the works are noted and addressed.  • The architect or site manager can issue extra works up to a total value not exceeding 30% of the contract value. Similarly, the site manager or the architect can reduce the scope of works by 20% of the contract value.  • Any changes to price in material shall be discussed with architect, Owner and Contractor. Any adjustments, if justified, are to be approved by the architect.