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Interim Payment / Issue date /Due date

1 reply [Last post]
Thu, 2006-10-19 17:00
Puthenpurayil sug...
User offline. Last seen 17 years 15 weeks ago. Offline
Joined: 9 Oct 2006
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Dear Andrews,

Just a doubt regarding the Interim payment as per FIDIC

When the contractor submit the IOM ( Intrim payment )to the concultant/client, the "due date" as per contractually is +84 days of the submission date.
Is there any relation with the the issue date by the Client?!!
Client( due to delay )advise to change the date of issue of "IOM" ( because they are issusing the payment)to the Contractor ,Is it necesserry by the consultant to cahange the date ?!!
I mean the delay where it has to be happen in the case of interim payment release.
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Fri, 2006-10-20 12:30
#1
Shahzad Munawar
User offline. Last seen 9 years 21 weeks ago. Offline
Joined: 2 Jul 2003
Posts: 551
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In this case, the payment due date is within 84 days from date of e submission of Invoice. Its does not matter when the Engineer issues the certificate but contractually the payment to be made to the Contractor within 84 days from the submission date. but usually the Engineer takes 21 days in certification from the date of submission and issues Interim Payment Certificate whereas remaining period relates to Employer for payment

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