Examples of Final Account Certificate in a sentence
To ensure that, on completion of the contract and before final payment (including the issue of the Certificate for final payment where appropriate) the responsible officer complies with the following Contract Standing Orders: completion of a Final Account Certificate and supply of a copy to the Chief Internal Auditor; for contracts if more than £500,000 in value, submission to the Chief Internal Auditor of all details of the contract at the time of practical completion.
Where the amount paid by the Employer to the Contractor pursuant to any error in a previous certificate exceeds any amount due and payable to the Contractor under any subsequent interim certificate or the Final Account Certificate, such excess shall be recoverable by the Employer from the Contractor.
The issue of the Final Account Certificate pursuant to clause 56 shall be made only upon submittal by the Contractor of a certificate of income tax clearance from the Government of Nepal.
If the Contractor later establishes that he would not be liable for such injury or damage by virtue of Clause 26.2 or otherwise, the Superintending Officer‟s instruction(s) shall be deemed to have been and shall be treated as a variation issued pursuant to Clause 19.1 and, notwithstanding the issue of a Final Account Certificate, shall be entitled to be paid in respect of such variation.
If the Contractor later establishes that he would not be liable for such injury or damage by virtue of Clause 26.2 or otherwise, the Superintending Officer’s instruction(s) shall be deemed to have been and shall be treated as a variation issued pursuant to Clause 19.1 and, notwithstanding the issue of a Final Account Certificate, shall be entitled to be paid in respect of such variation.
At the time the final account is agreed, a Final Account Certificate should be completed by the Chief Officer responsible and copied to the Chief Auditor.(4) For contracts in excess of £500,000, the Chief Officer responsible should advise the Chief Auditor of all details relating to the contract at the time of practical completion.
If the Contractor later establishes that he would not be liable for such injury or damage by virtue of Clause 28.2 or otherwise, the Superintending Officer’s instruction(s) shall be deemed to have been and shall be treated as a variation issued pursuant to Clause 19.1 and, notwithstanding the issue of a Final Account Certificate, shall be entitled to be paid in respect of such variation.
A dispute arose when the Respondent claimed that despite having worked, finalized and handed over the Project, the Applicant refused and/or neglected to pay the Project architect’s Final Account Certificate of KES 16,103,520.00 plus interest of KES.
This is why the Arbitrator concluded that: Consequently, the Tribunal is persuaded to find and hold that the any Claim(s) arising from these proceedings touching on any alleged failure to conform or not with the terms of this Contract is/are res judicata as the said Final Account Certificate issued on 17th September 2014 was conclusive evidence that the said works were carried out as per the Contract.
At the time the final account is agreed, a Final Account Certificate should be completed by the Chief Officer responsible and copied to the Chief Internal Auditor.