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Construction Payment Contract

Construction Payment Contract Template for Malaysia

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Key Requirements PROMPT example:

Construction Payment Contract

"I need a Construction Payment Contract for a residential development project in Penang, Malaysia, where I'm the main contractor engaging multiple subcontractors, with progress payments scheduled monthly and a 5% retention sum to be released by March 2025."

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Document background
The Construction Payment Contract is a crucial document used in Malaysian construction projects to establish and regulate payment arrangements between contracting parties. It is specifically designed to comply with the Construction Industry Payment and Adjudication Act (CIPAA) 2012 and other relevant Malaysian legislation. This contract type is essential when engaging in any significant construction work in Malaysia, as it provides clear payment terms, schedules, and mechanisms for dispute resolution. The document includes provisions for progress payments, payment certifications, retention sums, and final payments, while incorporating necessary safeguards against payment defaults. It is particularly important given Malaysia's statutory requirements for construction payment security and the rights of contractors and subcontractors to timely payment.
Suggested Sections

1. Parties: Identification of the contracting parties including full legal names, registration numbers, and addresses

2. Background: Context of the agreement and brief description of the construction project

3. Definitions: Definitions of key terms used throughout the contract

4. Scope of Work: Detailed description of the construction work to be performed

5. Contract Sum: Total contract value and breakdown of costs

6. Payment Terms: Payment schedule, milestones, and mechanisms including compliance with CIPAA 2012

7. Progress Claims: Procedures for submitting and processing progress claims

8. Payment Certificates: Process for issuing and handling payment certificates

9. Time for Performance: Project timeline, completion date, and milestone dates

10. Variations: Procedures for handling variations to the scope of work

11. Default and Termination: Events of default and termination procedures

12. Dispute Resolution: Procedures for dispute resolution including adjudication under CIPAA

13. General Provisions: Standard contract clauses including notices, governing law, and assignment

Optional Sections

1. Performance Bond: Required when project value exceeds certain threshold or when specifically requested by the employer

2. Retention Sum: Include when parties agree to retention money as additional security

3. Insurance Requirements: Detailed insurance provisions for larger projects or high-risk work

4. Defects Liability: Include for projects requiring extended warranty or defect remedy period

5. Environmental Compliance: Required for projects with significant environmental impact

6. Safety Requirements: Detailed safety provisions for high-risk construction projects

7. Intellectual Property Rights: Include when design or innovative construction methods are involved

Suggested Schedules

1. Schedule 1 - Scope of Works: Detailed specifications and drawings of the construction work

2. Schedule 2 - Payment Schedule: Detailed breakdown of payment milestones and amounts

3. Schedule 3 - Project Timeline: Detailed project schedule including key milestones

4. Schedule 4 - Bill of Quantities: Itemized list of materials and quantities

5. Schedule 5 - Technical Specifications: Detailed technical requirements and standards

6. Schedule 6 - Form of Payment Claim: Standard form for submitting payment claims

7. Schedule 7 - Form of Payment Response: Standard form for responding to payment claims

8. Appendix A - Performance Bond Format: Standard format for the performance bond if required

9. Appendix B - Insurance Requirements: Detailed insurance requirements and minimum coverage

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
Relevant legal definitions








































Clauses






























Relevant Industries

Construction

Real Estate Development

Infrastructure

Commercial Property

Residential Property

Industrial Development

Public Works

Energy

Transportation

Healthcare Facilities

Educational Facilities

Retail Development

Relevant Teams

Legal

Finance

Procurement

Operations

Contract Administration

Project Management

Risk Management

Commercial

Construction Management

Claims

Relevant Roles

Construction Manager

Project Director

Contract Administrator

Quantity Surveyor

Construction Site Manager

Legal Counsel

Procurement Manager

Finance Director

Commercial Manager

Project Engineer

Risk Manager

Claims Manager

Construction Lawyer

Chief Financial Officer

Operations Director

Industries







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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