Stage Payment Plan Clause Samples

Stage Payment Plan. 8.2.1 The Authority shall, subject to the following provisions of this condition, make to the contractor advances against the price(s) payable for Item 1 (‘interim payments’) in accordance with the Payment Plan set out in Annex L to the Contract. 8.2.2 The Contractor shall be entitled to interim payments, to be claimed in accordance with Condition 8.1 (Payment) for each stage under the Stage Payment Scheme, provided that: a. the contractor has completed all work comprised in the stage for which the interim payment is sought in accordance with Condition 7.1(Acceptance) and Annex L (Payment Plan) ; 8.2.3 all previous stages have been completed, unless the parties expressly agree otherwise; and 8.2.4 the Contractor shall have complied with all its contractual obligations which enable the Authority to monitor the contractor’s contractual performance, including but not limited to those obligations related to the provision of information to the Authority. 8.2.5 Payment against the Stage Payment Plan at Annex L is subject to the Contractor’s performance against the Key Performance Indicators at Condition 7.4 and at Annex I. 8.2.6 Notwithstanding Condition 8.2.2 above, the Authority shall not be obliged to make an interim payment to the contractor if it has reasonable cause to believe that the contractor will be unlikely to render complete performance of its obligations in respect of item 1 of the Contract. 8.2.7 Where the Authority intends to rely on Condition 8.2.2 above as the basis for rejecting any claim for an interim payment which the contractor may make, the Authority shall give to the contractor notice in writing of its intention together with reasons and justification for the rejection. 8.2.8 The Authority shall without prejudice to any other right / remedy of either party be entitled to recover in full all interim payments made under the contract where: 8.2.8.1 the Contract, or the part of the Contract under which Items 1, 2, 3 and 4 are to be provided, is terminated otherwise than in accordance with DEFCON 656B (Termination for Convenience), or expires by reason of passing of time; and 8.2.8.2 the Contractor has failed to complete performance of Items 1, 2 or 3. 8.2.9 In the event of repayment to the Authority under the provisions of Condition 8.2.8 above then all that, which vested in the Authority, under the provisions of DEFCON 649 (Vesting) and which related to Items 1,2 or 3 shall re-vest in and become the absolute property of the contractor.