71 Bonus paymentsA contract may provide for the contractor to be paid a bonus for timely completion, by way of either a fixed amount or a sum for every day or week by which completion precedes a specified date1. If, under such a contract, the completion date subsequently falls to be adjusted on the grant of an extension of time, it is a question of construction whether the bonus provision attaches to the new date2.A bonus may also be awarded where the completed works exceed the performance requirements set out in the contract. Such
A contract may provide for the contractor to be paid a bonus for timely completion, by way of either a fixed amount or a sum for every day or week by which completion precedes a specified date1. If, under such a contract, the completion date subsequently falls to be adjusted on the grant of an extension of time, it is a question of construction whether the bonus provision attaches to the new date2.
A bonus may also be awarded where the completed works exceed the performance requirements set out in the contract. Such
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