Tag: Payment

  • Navigating Payment Schedules: Due Date vs. Final Date Explained

    Navigating Payment Schedules: Due Date vs. Final Date Explained

    In the realm of construction contracts governed by the Construction Act, understanding the concepts of the Payment Due Date and Final Date for Payment is pivotal for budding quantity surveyors. These two dates hold significance in ensuring smooth financial transactions within construction projects. Understanding Payment Due Date The Payment Due Date, as defined by the…

  • Getting Paid: Valuation Date, Due Date, and Final Date for Payment Explained

    Getting Paid: Valuation Date, Due Date, and Final Date for Payment Explained

    Getting paid is a crucial aspect of working in the construction industry. However, the payment process can be complex, especially when it comes to understanding valuation dates, due dates, and the final date for payment. In this beginner’s guide, we will explain these key concepts and their significance in ensuring timely and accurate payment in…