Introduction to JCT Contract Administration Payment (Part 1)
Introduction to JCT Contract Administration Payment (Part 1)
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This course aims to explain how and why payment is made on construction contracts. It covers not only payment for work done but also payments for loss and expense.
Accreditations & CPD
Accreditations & CPD
Suitable for CPD requirements of RICS, CIOB, ICE, and CICES members.
Learning Outcomes
Learning Outcomes
After studying this course, you should be able to:-
• Explain in detail the procedure for payment using a JCT standard form of building contract with reference to the Standard Building Contract 2016 (SBC) and Design and Build Contract 2016 (DB)
• Understand the basic payment provisions contained in UK legislation regarding payment for construction works.
• Understand how interim and final payments are ascertained and why
• Understand the factors to be considered prior to compiling a loss and expense claim
• Understand the significance of the final certificate.
• Understand the importance of monitoring payments and making regular financial reports
About the Author
About the Author
This course is produced by Built Intelligence, in association with Contract & Construction Consultants and Thomson Reuters and is based on the JCT Contracts Discovery published in 2012. Special thanks to Christopher Dean and Lisa Vernon from Contract & Construction Consultants for their contributions.
