Stage Payment Statement for Works Clause Samples
The Stage Payment Statement for Works clause defines the process by which payments are made in installments as specific stages of a project are completed. Typically, the contractor submits a statement or invoice detailing the work completed at each stage, which is then reviewed and approved by the client before payment is released. This approach ensures that payments are tied to measurable progress, helping to manage cash flow for both parties and reducing the risk of disputes over incomplete or unsatisfactory work.
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Stage Payment Statement for Works. The Contractor shall submit a statement (the “Stage Payment Statement”), in 3 copies, by the 7th (seventh) day of the month to the Authority’s Engineer in the form set forth in Schedule-O, showing the amount calculated in accordance with Clause 19.3 to which the Contractor considers himself entitled for completed stage(s) of the Works. The Stage Payment Statement shall be accompanied with the progress reports and any other supporting documents. The Contractor shall not submit any claim for payment of incomplete stages of work.
Stage Payment Statement for Works. The Contractor shall submit a statement (the “Stage Payment Statement”), in 3 copies, by the 7th (seventh) day of a month to the Authority Engineer in the form set forth in Schedule-M, showing the amount calculated in accordance with Clause 17.3 to which the Contractor considers itself entitled for the completed stage(s) of Works. The Stage Payment Statement shall be accompanied with the progress reports and any other supporting documents. The Contractor shall not submit any claim for payment of incomplete stages of work. In the event that there is no claim for a month in accordance with the provisions of this Clause 17.4, the Contractor shall submit a nil claim to the Authority Engineer.
Stage Payment Statement for Works. The Contractor shall submit a statement (the “Stage Payment Statement”), in 3 copies, by the 7th (seventh) day of a month to the Authority Engineer in the form set forth in Schedule-M, showing the amount calculated in accordance with Clause 17.3 to which the Contractor considers itself entitled for the completed stage(s) of Works under Schedule-G or / and completed items of works under Schedule-G1. The Stage Payment Statement shall be accompanied with the progress reports and any other supporting documents. The Contractor shall not submit any claim for payment of incomplete stages of work. In the event that there is no claim for a month in accordance with the provisions of this Clause 17.4, the Contractor shall submit a nil claim to the Authority Engineer.
Stage Payment Statement for Works. The Stage Payment Statement for Works shall state:
(a) The estimated amount for the Works executed in accordance with ▇▇▇▇▇▇
19.3.1 subsequent to the last claim;
(b) Amounts reflecting adjustments in price for the aforesaid claim;
(c) The estimated amount of each Change of ▇▇▇▇▇ Order executed subsequent to the last claim;
(d) Amounts reflecting adjustment in price, if any, for (c) above in accordance with the provisions of Clause 13.2.3 (a);
(e) Total of (a), (b), (c) and (d) above;