Interim Payment Certificate definition

Interim Payment Certificate means a payment certificate issued under Clause 14 [Contract Price and Payment], other than the Final Payment Certificate.
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Interim Payment Certificate or “IPC” means the interim payment certificate issued by the Authority’s Engineer for payment to the Contractor in respect of Contractor’s claims for payment raised in accordance with the provisions of this Agreement;
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Interim Payment Certificate means any certificate of payment issued by the Engineer other than the Final Payment Certificate.
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Examples of Interim Payment Certificate in a sentence

  • The total amount recovered in each Interim Payment Certificate shall be equal to 30% (thirty per cent) of the amount of interim payment due and payable under such Interim Payment Certificate, and interest on the amount being recovered to be calculated from the date of disbursement of the Advance Payment to the date of recovery until the entire Advance Payment together with interest is recovered.

  • For the avoidance of doubt, the Parties agree that in the event the total payment specified in any Interim Payment Certificate exceeds the limit of 50% (fifty per cent) of the Contract Price, the proportionate of recovery hereunder shall be restricted to the amount exceeding 50% (fifty per cent) of the Contract Price.

  • The Authority Engineer may by an Interim Payment Certificate make any correction or modification in any previous Interim Payment Certificate issued by the Authority Engineer.


More Definitions of Interim Payment Certificate

Interim Payment Certificate or “IPC” means the interim payment certificate issued by the Bilaspur Smart City Limited for payment to the Contractor in respect of Contractor’s claims for payment raised in accordance with the provisions of this Agreement;
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Interim Payment Certificate means any payment certificate issued by the Engineer under Sub-Clause 11.5, other than the Final Payment Certificate.
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Interim Payment Certificate means a payment certificate issued under Clause 14 [Contract Price and Payment],
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Interim Payment Certificate means any payment certificate other than Final Payment Certificate, issued by the Owner/Project Manager.
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Interim Payment Certificate or “IPC” means the interim payment certificate issued by the Authority’s Engineer for payment to the Contractor in respect of Contractor’s claims for payment raised in accordance with the provisions of this Agreement; “Joint Venture” means the group of entities which have come together for implementation of this Project; “Lead Member” shall, in the case of a joint venture, mean the member of such joint venture who shall have the authority to bind the contractor and each member of the Joint venture; and shall be deemed to be the Contractor for the purposes of this Contract AgreementPage 21 of 152 “Construction of Four Lane Panchgram Bypass from Design Chainage km 15+500 on NH- 37 (Old NH-53) at Kalinagar Pt.-II Village to Design Chainage km 27+300 at crossing with NH-6 (Old NH-44) Near Xxxxxxxxx Pt.-I Village in the State of Assam on EPC Mode under Xxxxxxxxxx Xxxxxxxxxx in Economic Corridors (Project Length – 11.8 km)” (2nd Call) Feb 2023 Agreement; the Lead Member shall itself undertake and perform at least 51% (fifty one per cent) of the total length of the Project Highway; “LOA” or “Letter of Acceptance” means the letter of acceptance issued by the Authority as referred to in Recital (D); “Maintenance” means the maintenance of the Project Highway as set forth in Article 14 for the period specified therein; “MaintenanceInspectionReport”shallhavethemeaningsetforthinClause15.2; “Maintenance Manual” shall have the meaning ascribed to it in Clause 10.7; “Maintenance Programme” shall have the meaning set forth in Clause 14.3; “Maintenance Period” shall have the meaning set forth in Clause 14.1; “Maintenance Requirements” shall have the meaning set forth in Clause14.2; “Major Bridge” means a bridge having a total length of more than 60 (sixty) meters between the inner faces of the dirt walls as specified in IRC:5; “Manual” shall mean the Manual of Standards and Specifications for Project Highways; “Material Adverse Effect” means a material adverse effect of any act or event on the ability of either Party to perform any of its obligations under and in accordance with the provisions of this Agreement and which act or event causes a material financial burden or loss to either Party; “Materials” comprise of all the supplies used by the Contractor used in the Works or for the maintenance of the Project Highway; “Monthly Maintenance Statement shall have the meaning set forth in Clause 19.6; “MORTH” means the Ministry of Road Transport and Highways or any substitute t...
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Interim Payment Certificate means any payment certificate other than Final Payment Certificate, issued by the Engineer-in-charge/Employer.
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Interim Payment Certificate means any payment certificate issued by the Engineer under Sub-Clause 24.6, other than the Final Payment Certificate.
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