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SCHEDULE
Provisions to Apply to Matters Regarding Payments
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Section 3
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1. The payment claim dates under a construction contract shall (subject to paragraph 2) be as follows:
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(a) 30 days after the commencement date of the construction contract;
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(b) 30 days after the date referred to in clause (a) and every 30 days thereafter up to the date of substantial completion;
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(c) 30 days after the date of final completion.
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2. Where a construction contract provides, or the parties to a construction contract otherwise agree, that the duration of the work under the construction contract is or is estimated to be less than 45 consecutive days, the payment claim date shall be 14 days following completion of the work under the construction contract.
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3. The date on which payment is due in relation to an amount claimed under a construction contract shall be no later than 30 days after the payment claim date.
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4. The amount of an interim payment under a construction contract shall (subject to paragraph 5) be the difference between—
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(a) the aggregate of the gross value (determined in accordance with the construction contract) of the work done under the construction contract at the payment claim date concerned together with any additional amounts in the interim payment under the construction contract, less any deductions from payment provided for by the construction contract, and
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(b) the aggregate amount of interim payments that have already been made at that payment claim date.
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5. The aggregate of payments made under a construction contract shall not exceed—
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(a) the amount provided for in the construction contract as originally concluded, and
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(b) amounts provided for by any amendments to that contract agreed between the parties.
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