{"id":12489,"date":"2018-09-23T12:07:23","date_gmt":"2018-09-23T12:07:23","guid":{"rendered":"https:\/\/examchum.uk\/?p=12489"},"modified":"2018-10-31T17:31:58","modified_gmt":"2018-10-31T17:31:58","slug":"how-and-when-is-a-contractor-paid","status":"publish","type":"post","link":"https:\/\/examchum.uk\/landscape-architecture\/how-and-when-is-a-contractor-paid\/","title":{"rendered":"How and when is a contractor paid?"},"content":{"rendered":"<p>A Contractor is paid on the basis of the initial agreement with the Client in terms of payment frequency, depending on the size of the project. For projects that is expected to last for months (even years) the typical payment frequency would be once a month.<\/p>\n<p>During the Valuation, the Contract Administrator inspects the works that the Contractor suggests that have been fully completed or partially at an estimated percentage. When the Contract Administrator confirms that these works have been adequately completed, he issues an Interim Certificate to the Client. This includes a list of the works carried out as well as the proposed payment minus the agreed <a href=\"https:\/\/examchum.uk\/landscape-architecture\/what-is-retention-bond\/\">retention<\/a> amount. At this stage the Client can agree to pay the proposed amount or issue a <a href=\"https:\/\/examchum.uk\/landscape-architecture\/what-is-a-payless-notice\/\">Pay-less Notice<\/a>.<\/p>\n<p>After Practical Completion, the Contractor receives 50% of the retention that has been held back within each Interim Certificate. The remaining 50% of the retention, plus any other payment due, is paid after the end of the Defects Rectification period (12 months later, after the Final Certificate is issued).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Contractor is paid on the basis of the initial agreement with the Client in terms of payment frequency, depending on the size of the project.<\/p>\n","protected":false},"author":1,"featured_media":11086,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[153,20],"tags":[442,595,115,427,596],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How and when is a contractor paid? - ExamChum<\/title>\n<meta name=\"description\" content=\"A Contractor is paid on the basis of the initial agreement with the Client in terms of payment frequency, depending on the project size.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/examchum.uk\/landscape-architecture\/how-and-when-is-a-contractor-paid\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How and when is a contractor paid? 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