| Commentary

81 Payment by instalments

| Commentary

81 Payment by instalments

Payment by instalments has long been a feature of construction contracts of any significant size and it is now a requirement for all contracts with an estimated duration of 45 days or over falling within the scope of Part II (Sections 104–117) of the Housing Grants, Construction and Regeneration Act 1996 (‘the Act’)1. The amount and the intervals or circumstances in which interim payments are due may be agreed between the parties2 and may be made payable as the works reach a specified stage3. More commonly, they are payable on a regular (eg monthly) basis, and

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to LexisLibrary or register for a free trial