As per the NCB General Conditions of contract, contractor submits monthly statement to Project

manager. Project manager verifies the statement for the value of the work performed. If it is unit rate
contract then, PM verifies the work completed as per the Bill of Quantities (BOQ). in case of lump sum
contract, work is verified as per activity schedule. Once the work is verified then PM issues interim
payment certificate (IPC) within 30 days of the submission of the statement by contractor. Employee has
to make the payment within 30 days of the issuance of certificate by the PM.

According to the FIDIC red book clause 14, contractor submits statement and supporting documents to
engineer. After verifying the document, engineer issues interim payment certificate within 28 days of
the submission of statement by contractor. Within 56 days of the submission of statement by the
contractor or within 28 days of the issuance of IPC, employer makes the payment to the contractor. For
the final payment, contractor submits final statement and required documents. Engineer issues final
payment certificate within 28 days of the submission of the statement. Employer has to make payment
within 56 days from the date engineer issues FPC.