14.

0 Contract Price and Payment

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14.0 Contract Price and Payment
14.2 Advance Payment
14.2.1 Advance Payment Guarantee

14.2.2 Advance Payment Certificate

14.2.3 Repayment of Advance Payment

New Provision
14.2.1 (c) - if the Employer does not receive the evidence of
renewal of the Advance Payment Guarantee
within 7 days before the expiry date, the
Employer shall be entitled to claim the guarantee
which has not been repaid.

14.2.2 The Engineer shall issue an Advance Payment

Certificate for the advance payment within 14
days receipt of Performance Bond, Advance Payment
Guarantee and Advance Payment application. 78
 14.3 Application for Interim Payment
2017 – in the sequence of;
(i). the estimated value of the Works
executed including Variations but
excluding items (ii) to (x) below;
1999 – in the sequence of;
(ii). any amounts to be added and/or deducted for (a). the estimated value of the Works executed
changes in Laws and changes in Cost; including Variations but excluding items (b) to
(g) below;
(iii) amount to be deducted for retention to
the total of the amounts in (i), (ii) and (b). any amounts to be added and/or deducted for
(vi); changes in Laws and changes in Cost;

(c) amount to be deducted for retention to the total

(iv). amounts to be added and/or deducted for
the advance payment and repayments;
(v). amounts to be added and/or deducted for
Plant and Materials
(vi). other additions and/or deductions under
the Contract
(vii). amounts for Provisional Sums;
(viii). release of Retention Money
of above amounts;
(d). amounts to be added and/or deducted for the
advance payment and repayments;
(e). amounts to be added and/or deducted for Plant
and Materials
(f). other additions and/or deductions under the
Contract
(g). deduction of amounts certified in all previous
Payment Certificates.

(ix). amount to be deducted for the Contractor’s use

of utilities provided by the Employer

(x). deduction of amounts certified in all

previous Payment Certificates. 79
14.0 Contract Price and Payment
14.6 Issue of IPC

1999
2017
No amount will be certified or
No amount will be certified
paid to the Contractor until:
or paid to the Contractor
until the Employer has
(a) the Employer has received
received and approved the
the Performance Security;
Performance Security; (1999)
and
(b) the Contractor has
appointed the Contractor‟s
Representative in
accordance with Sub-
Clause 4.3 [Contractor’s
Representative].
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14.0 Contract Price and Payment
14.7 Payments

The Employer shall pay to the Contractor:

2017*
PC Type 1999
*or period stated in the Contract Data
(i). Within 42 days after issuing of the LOA Within 21 days after the Employer receives
or Advance Payment Certificate
Advance (ii). Within 21 days after receiving
Performance and Advance Payment
bonds

IPC Within 56 days after the Engineer receives the Statement and supporting
documents.
IPC (for Within 28 days after the Employer receives
FPC) the IPC for FPC under Sub-Clause 14.13
(Issue of FPC)

FPC Within 56 days after the Employer receives the Final Payment Certificate
81
14.0 Contract Price and Payment
14.8 Delayed Payment
2017
Unless otherwise stated in the
Contract Data, these financing 1999
charges shall be calculated at the Unless otherwise stated in the
annual rate 3% above: Particular Conditions, these
financing charges shall be
(a) the average bank short-term calculated at the annual rate of
lending rate to prime borrowers 3% above the discounted rate of
prevailing for the currency of the central bank.
payment, or

(b) where no such rate exists, the

same rate in the country
of the currency of payment, or

(c) in the absence of such a rate at

either place, the appropriate rate
fixed by the law of the country of
the currency of payment.
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14.0 Contract Price and Payment

14.10 Statement at Completion

1999
Within 84 days after receiving the TOC, the Contractor
shall submit the Statement at completion to the Engineer.

2017
Within 84 days after the Date of Completion of the
Works, the Contractor shall submit to the Engineer a
Statement at completion.

83
14.0 Contract Price and Payment
14.10 Statement at Completion

New Provision - 14.10. (c)

(c) an estimate of any other amounts which the Contractor
considers have or will become due after the Date of Completion
of the Works under the Contract or otherwise.

These estimated amounts shall be shown separately and shall

include estimated amounts for:
(i) Claims for which the Contractor has submitted a
Notice under Sub-Clause 20.2 [Claims For Payment
and/or EOT];

(ii) any matter referred to the DAAB under Sub-Clause

21.4 [Obtaining DAAB’s Decision];; and

(iii) any matter for which a NOD has been given under Sub-
Clause 21.4 [Obtaining DAAB’s Decision].
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14.0 Contract Price and Payment
14.10 Statement at Completion

New Provision - 14.10. (c)

(c) an estimate of any other amounts which the Contractor considers have
or will become due after the Date of Completion of the Works under
the Contract or otherwise.

These estimated amounts shall be shown separately and shall include

estimated amounts for:

(i) Claims for which the Contractor has submitted a

Notice under Sub-Clause 20.2 [Claims For Payment
and/or EOT];

(ii) any matter referred to the DAAB under Sub-Clause

21.4 [Obtaining DAAB’s Decision]; and

(iii) any matter for which a NOD has been given under Sub-
Clause 21.4 [Obtaining DAAB’s Decision].
85
 14.0 Contract Price and Payment

14.11 - Final Statement (2017)

1999 2017
14.11 – Final Statement
14.11 – Application for Final Payment 14.11.1 - Draft Final Statement
Certificate
14.11.2 - Agreed Final Statement

New Provisions
Submission of Draft and Final Statements shall not be delayed due
to Obtaining DAAB’s Decision or any arbitration.

This Statement shall be in the same form as Statements submitted

under Sub-Clause 14.3 [Application for Interim Payment];

86
14.0 Contract Price and Payment
14.11 Final Statement (2017)
Application for Final Payment Certificate (1999)
New provision – 2017
14.11.2 – Agreed Final Statement

the Contractor shall prepare and submit to the Engineer a

Statement, identifying separately:
- the agreed amounts,
- the estimated amounts, and
- the disagreed amount(s)
This is called
“Partially Agreed Final Statement” in the FIDIC 2017

87
14.0 Contract Price and Payment
14.12 Discharge

New provision – 2017

If the Contractor fails to submit the discharge, the discharge
shall be deemed to have been submitted and to have become
effective when,
(a) full payment certified in the FPC made;
and
(b) the Performance Security released.

A discharge under this Sub-Clause shall not affect

either Party‟s liability or entitlement in respect of
any Dispute for which a DAAB proceeding or
arbitration is in progress
88