An Overview of Interim Payment Cycles under JCT D&B24
An Overview of Interim Payment Cycles under JCT D&B24
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This module begins the review of the payment provisions of the JCT 2024. In this case we will be looking at the interim payment cycle. These are the payments made to the contractor throughout the term of the Project. There is also a final payment cycle which is different, which will be covered in a later module.
We will also look at what is included in the valuation and the requirements of the different notices.
Accreditations & CPD
Accreditations & CPD
This course provides structured Continuing Professional Development (CPD). Recognition of CPD is subject to individual professional body requirements and the learner’s role. This course is not formally accredited unless explicitly stated.
Learning Outcomes
Learning Outcomes
After completing this module, you should:
• Understand how the interim payment cycle works
• Be familiar with the types of notice and when the JCT 2024 requires them to be issued
•Know how to calculate a Gross Valuation and what can be deducted from it
• Be able to explain advance payments and the right of the Contractor to suspend its Works
About the Author
About the Author
This course is produced by Built Intelligence, in association with Michael Bennett.
Michael is a solicitor and adjudicator with over 15 years of experience. He specialises in engineering and construction disputes, with a particular focus on highly technical matters and has advised on projects across almost every sector, including power, rail, road, pharmaceutical, oil and coastal defence.
