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Construction Payment Contract

Construction Payment Contract Template for England and Wales

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Key Requirements PROMPT example:

Construction Payment Contract

"I need a Construction Payment Contract for a £5 million commercial building project in Manchester, with monthly payment cycles and 5% retention, ensuring compliance with current UK regulations and including specific provisions for supply chain payment terms."

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The Construction Payment Contract is essential for managing financial aspects of construction projects in England and Wales. It ensures compliance with statutory requirements, particularly the Construction Act, and provides clear mechanisms for payment applications, certifications, and dispute resolution. This contract type is crucial for establishing payment security, maintaining project cash flow, and protecting parties' rights in construction projects. It includes detailed provisions for payment notices, pay-less notices, and suspension rights, while addressing specific requirements of the construction industry and relevant legislation.
Suggested Sections

1. Parties: Details of the contracting parties including full legal names, registered addresses, and company numbers

2. Background: Context of the agreement including project overview and parties' intentions

3. Definitions: Defined terms used throughout the contract including specific construction terminology

4. Scope of Works: Detailed description of construction works to be performed including specifications and standards

5. Contract Sum: Amount payable, payment structure, and any provisions for price adjustments

6. Payment Procedures: Payment application process, payment notices, due dates, and final dates for payment in compliance with the Construction Act

7. Programme: Project timeline, completion dates, and key milestones

8. Variations: Process for handling changes to scope, including pricing and timing implications

Optional Sections

1. Performance Security: Provisions for bonds, guarantees, or other forms of security for contract performance

2. Insurance Requirements: Specific insurance obligations including types of coverage, amounts, and duration

3. Liquidated Damages: Pre-agreed damages for delay or other specified breaches of contract

4. Retention: Provisions for withholding and release of retention monies

5. Defects Liability: Obligations regarding rectification of defects and duration of liability period

Suggested Schedules

1. Schedule of Rates: Detailed breakdown of costs, rates, and prices for different elements of work

2. Programme of Works: Detailed timeline showing sequence of construction activities and dependencies

3. Specification: Technical specifications and quality standards for materials and workmanship

4. Drawing Schedule: List of all relevant drawings with revision numbers and dates

5. Payment Schedule: Schedule of payment milestones, amounts, and dates

6. Site Information: Details about the construction site including access, restrictions, and existing conditions

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
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Relevant Industries
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Industries

Housing Grants, Construction and Regeneration Act 1996 (HGCRA): Primary legislation governing construction contracts in England and Wales. Includes provisions for payment procedures, right to suspend work for non-payment, adjudication rights, and payment notice requirements. Amended by the Local Democracy, Economic Development and Construction Act 2009.

Late Payment of Commercial Debts (Interest) Act 1998: Legislation governing interest charges on late payments in commercial transactions, including construction contracts.

Construction (Design and Management) Regulations 2015: Regulations setting out health and safety requirements and allocation of responsibilities in construction projects.

Scheme for Construction Contracts (England and Wales) Regulations 1998: Provides fallback provisions for payment and adjudication where contracts don't meet minimum requirements of the Construction Act.

Common Law Principles: Relevant case law governing payment terms, set-off rights, pay-when-paid clauses (generally prohibited), and pay-when-certified provisions in construction contracts.

Supply of Goods and Services Act 1982: Legislation that implies terms about quality of work and reasonable time for completion in construction contracts.

Contracts (Rights of Third Parties) Act 1999: Legislation governing third-party rights and collateral warranties in construction contracts.

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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