The Construction Payment Contract is a specialized agreement designed for use in New Zealand construction projects to establish and manage payment obligations between parties. It is particularly important given the requirements of the Construction Contracts Act 2002, which mandates specific payment procedures and protections in the construction industry. This document type should be used whenever engaging in construction work in New Zealand, whether for commercial, residential, or infrastructure projects. It includes essential provisions for progress payments, payment claims and schedules, retention monies, and dispute resolution procedures. The contract ensures compliance with local legislation while protecting both principals' and contractors' interests in the payment process. It's designed to prevent payment disputes and provide clear remedies when they arise, making it a crucial document for any construction project in New Zealand.
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1. Parties: Identification and details of the contractor and principal/client
2. Background: Context of the agreement and general purpose of the construction work
3. Definitions: Key terms used throughout the contract, including payment-related terminology
4. Scope of Work: General description of the construction work to be performed
5. Contract Price: Total contract sum and payment structure
6. Payment Terms: Detailed payment provisions including payment claims, schedules, and timeframes as per Construction Contracts Act
7. Time for Performance: Project timeline, completion dates, and milestones
8. Variations: Process for managing changes to scope and corresponding payment adjustments
9. Default and Termination: Circumstances constituting default and termination procedures
10. Dispute Resolution: Process for resolving disputes as per Construction Contracts Act requirements
11. General Provisions: Standard contract clauses including notices, governing law, and interpretation
1. Retention: Terms for retention monies, used when project requires retention holdings
2. Bond Provisions: Details of performance bonds or payment bonds, included for larger projects
3. Insurance: Specific insurance requirements beyond standard coverage
4. Health and Safety: Detailed health and safety obligations, for high-risk or complex projects
5. Intellectual Property: IP provisions when design elements are included in the scope
6. Subcontracting: Terms for engaging and managing subcontractors, for projects allowing subcontracting
7. Confidentiality: Confidentiality obligations, for sensitive or high-value projects
8. Force Majeure: Provisions for unforeseen events, particularly relevant for longer-term projects
1. Schedule 1 - Scope of Works: Detailed specifications and drawings of the construction work
2. Schedule 2 - Payment Schedule: Detailed breakdown of payment amounts, milestones, and timing
3. Schedule 3 - Program of Works: Detailed timeline and construction schedule
4. Schedule 4 - Site Information: Details about the construction site and access arrangements
5. Schedule 5 - Special Conditions: Any project-specific requirements or variations to standard terms
6. Schedule 6 - Key Personnel: Details of key staff and their responsibilities
7. Appendix A - Required Insurance Certificates: Copies of insurance policies and certificates
8. Appendix B - Health and Safety Plan: Detailed health and safety procedures and requirements
Relevant legal definitions
Clauses
Relevant Industries
Commercial Construction
Residential Construction
Industrial Construction
Infrastructure Development
Civil Engineering
Building and Development
Property Development
Mining Construction
Energy Infrastructure
Public Works
Relevant Teams
Legal
Finance
Construction
Operations
Commercial
Procurement
Risk Management
Project Management
Contract Administration
Claims Management
Relevant Roles
Construction Manager
Project Manager
Quantity Surveyor
Contract Administrator
Commercial Manager
Legal Counsel
Finance Manager
Operations Director
Site Manager
Procurement Manager
Risk Manager
Claims Manager
Managing Director
Chief Financial Officer
Construction Director
Principal Contractor
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