Figure 71: Weekly Details

list, in order to receive final payment from the owner.

4 4 CO M P L E T I O N O F P R O JE C T

This section will cover some or all of the following aspects:

• Contract closure (current status, estimated final closure date; for ongoing support/maintenance contracts, refer to who is responsible, renewal periods, costs, etc.) • Financial closure (invoice approvals, payments, financial system transactions, transfer of remaining funds) • Asset transfer (disposition of hardware, software licenses, furniture, etc.) • Administrative closure (transfer of administrative functions to an in-service support organization; transfer includes handover of project deliverables to a responsibility center) • Human resources (FTEs returned to home units, departures of contracted resources) • Information management - describe where the documents have been stored or archived, using a table format such as the following

HEAD

Delay Damages CONTRACTUAL CLAUSES

Insert the following at the end of Sub-Clause 8.7: PG 24 PART 3 GCC AND PCC Where the Works are required to be completed within particular Key Dates, as specified in Part 1, Section IV, this Sub-Clause shall apply to these Key Date completions, and the Appendix LB-1 to Letter of Bid shall include a sum or percentage in respect of each Key Date which represents the damages likely to be suffered by the Employer if the said Key Date is not accomplished within the time prescribed or by any extension granted under Sub-Clause 8.4.

Application for Interim Certificates Replace Sub-Paragraph (c) with: (c) the amount to be deducted for retention shall be ten percent (10%) from the above amounts, until the amount so retained by the Employer reaches the limit of five per cent (5%) of the Contract Price.

Payment of Retention Money Replace Sub-Clause 14.9 with the following: PG 37 14.9.1 When the Taking-Over Certificate has been issued for the Works, and the Works have passed all specified tests (including the Tests after Completion, if any), the first half of the Retention Money shall be paid to the Contractor. 14.9.2 Promptly after the latest of the expiry dates of the Defects Notification Periods, the outstanding balance of the Retention Money shall be paid to the Contractor. This outstanding balance may also be paid against presentation of a Bank Guarantee for the balance amount by the Contractor to the Employer at the same time as the payment for the first half of the Retention Money.

4 5 B I L L I NG P R O C E D U R E

At, both QS and sub-contracting works are done a common dept. There is a cost control and budgeting dept on next desk to this department and simultaneously, co-ordination between both of them is done for carrying out works. Payment is usually carried out on 8th date of every month.

TYPES OF BILLS:

 Advance Bills  Monthly RA (Running Account) BillEscalation Bills

SUBMITTED BY: BHUMIKA RAJ UC5316 178