Most construction contracts require interim payments to be paid to the contractor. This is to relieve the contractor of the burden of financing the whole of the works until completion; which can take many months or years. This guidance note is effective from 12 November 2015.
This guidance note covers:
- conditions of contract
- payment mechanisms
- retention
- valuation process
- standard forms and covering letters.
Interim Valuations and Payment, 1st edition (PDF 2.04MB)
Published date: 12 August 2015