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What is interim payment certificate?

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تم إضافة السؤال من قبل Syed Shan Haider , Senior Draftsman , Al Marwan General Contracting Company
تاريخ النشر: 2016/09/27
Ihab Zaki
من قبل Ihab Zaki , Chief Technology Officer (Cto) , EGID

"Interim Payment Certificates" means a payment certificate issued under the Clause "Contract Price and Payment", other than the Final Payment Certificate.

 

In other words, it provides a mechanism for the client to make payments - usually milestone-based -  to the contractor before the works are complete. 

Abdul Rehman
من قبل Abdul Rehman , Electrical Engineer , Tamdeed Projects

Thanks for the invitation. It is a certificate that allows you to pay your contractor in the middle of the project even if has not been completed yet.

Imran Ahmed
من قبل Imran Ahmed , Manager-Planning & Delay Analyst , Nesma United Industries (NUI) Saudi Arabia

I agree with colleagues. Most appreciate is one defined by FIDIC.

"Interim Payment Certificates" means a payment certificate issued under the Clause "Contract Price and Payment", other than the Final Payment Certificate.

Yahya Bah
من قبل Yahya Bah , Principal & Marketing Consultant , International Community

Interim certificate is a mechanism that makes it possible for a client to make payment to a contractor before the works are completed.

Mohammed Asim Nehal
من قبل Mohammed Asim Nehal , M Asim Nehal & Co , Chartered Accountants

"Interim Payment Certificates" means a payment certificate issued under the Clause "Contract Price and Payment", other than the Final Payment Certificate.

It is an instrument that is used by a client to pay a contractor before the end of a contract. Some laws in the UK makes it the legal right of a contractor on the job in excess of 45 days.

 

In other jurisdictions where the law is not that stringent, the instrument might be negotiated as a condition of contract.

mahmood kheder
من قبل mahmood kheder , مدير القسم الفني وحاصل على درجة الاستشاري من نقابة المهندسين , alliba

Total amount payable under this interim certificate.

JAVED YAQOOB JAVED
من قبل JAVED YAQOOB JAVED , Sr.Quantity Surveyor , Dar Al Handasah (Shair and Partners)

"Interim Payment Certificates" means a payment certificate issued under the Clause on monthly basis during currency of contract  until statement at completion"Contract Price and Payment", other than the Final Payment Certificate.

hisham abu dagga
من قبل hisham abu dagga , Project Manager / مدير مشاريع , مؤسسة عبدالكريم العواض للمقاولات

Thans fot invitation

I Agree MR Ihab zaki

Muhammad  Khan
من قبل Muhammad Khan , Subcontractor Engineer , Fabrication

A payement progress Certifate issued by Contractor to Subcontractor for specifice period.

Shair ahmed Butt
من قبل Shair ahmed Butt , Head Strategic Sourcing , Soban & Co Procurement Consultants

Payments based on certain milestones for Which employer Approval is mandayory

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