Payment due date in the construction industry - Revision history

Designing Buildings at 09:30, 10 August 2022

2022-08-10T09:30:03Z

← Older revision		Revision as of 09:30, 10 August 2022
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−	The Housing Grants, Construction and Regeneration Act ~~1996~~ (also known as the Construction Act) includes provisions to ensure payments are made promptly throughout the supply chain.	+	The Housing Grants, Construction and Regeneration Act (also known as the Construction Act) includes provisions to ensure payments are made promptly throughout the supply chain.

	Section 110A(6) of the Act defines the “payment due date” as “…the date provided for by the contract as the date on which the payment is due”.		Section 110A(6) of the Act defines the “payment due date” as “…the date provided for by the contract as the date on which the payment is due”.

Designing Buildings at 09:27, 10 August 2022

2022-08-10T09:27:18Z

← Older revision		Revision as of 09:27, 10 August 2022
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	Under the Late Payment of Commercial Debts (Interest) Act 1998 the payment due date is referred to as an 'agreed payment day'.		Under the Late Payment of Commercial Debts (Interest) Act 1998 the payment due date is referred to as an 'agreed payment day'.

−	~~[[File:DBWCTA c link construction payment mechanisms ebook.png\|link=https://hubs.la/H0NmVlj0]]~~	+	= Related articles on Designing Buildings =
−		+
−	= Related articles on Designing Buildings ~~Wiki~~ =	+

	* Default payment notice.		* Default payment notice.

Designing Buildings at 10:58, 21 May 2021

2021-05-21T10:58:30Z

← Older revision		Revision as of 10:58, 21 May 2021
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	Under the Late Payment of Commercial Debts (Interest) Act 1998 the payment due date is referred to as an 'agreed payment day'.		Under the Late Payment of Commercial Debts (Interest) Act 1998 the payment due date is referred to as an 'agreed payment day'.
		+
		+	[[File:DBWCTA c link construction payment mechanisms ebook.png\|link=https://hubs.la/H0NmVlj0]]

	= Related articles on Designing Buildings Wiki =		= Related articles on Designing Buildings Wiki =

Designing Buildings at 08:10, 1 October 2020

2020-10-01T08:10:56Z

← Older revision		Revision as of 08:10, 1 October 2020
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	Under the Late Payment of Commercial Debts (Interest) Act 1998 the payment due date is referred to as an 'agreed payment day'.		Under the Late Payment of Commercial Debts (Interest) Act 1998 the payment due date is referred to as an 'agreed payment day'.
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−	~~[[File:DBWCTA0003.png\|link=http://zpr.io/tcq6M]]~~

	= Related articles on Designing Buildings Wiki =		= Related articles on Designing Buildings Wiki =

Designing Buildings at 08:04, 23 September 2020

2020-09-23T08:04:05Z

← Older revision		Revision as of 08:04, 23 September 2020
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	* Scheme for construction contracts.		* Scheme for construction contracts.

−	[[Category:Contracts_/_payment]] [[Category:Procurement]]	+	[[Category:DCN_Definition]] [[Category:DCN_Guidance]] [[Category:DCN_Legislation]] [[Category:DCN_Policy]] [[Category:Contracts_/_payment]] [[Category:Procurement]]

Designing Buildings at 08:16, 6 May 2020

2020-05-06T08:16:29Z

← Older revision		Revision as of 08:16, 6 May 2020
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	Under the Late Payment of Commercial Debts (Interest) Act 1998 the payment due date is referred to as an 'agreed payment day'.		Under the Late Payment of Commercial Debts (Interest) Act 1998 the payment due date is referred to as an 'agreed payment day'.
		+
		+	[[File:DBWCTA0003.png\|link=http://zpr.io/tcq6M]]

	= Related articles on Designing Buildings Wiki =		= Related articles on Designing Buildings Wiki =

Designing Buildings: moved Due date for payments in the construction industry to Payment due date in the construction industry

2019-03-20T08:00:29Z

moved Due date for payments in the construction industry to Payment due date in the construction industry

← Older revision

Revision as of 08:00, 20 March 2019

Designing Buildings at 07:58, 20 March 2019

2019-03-20T07:58:26Z

← Older revision		Revision as of 07:58, 20 March 2019
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	The Housing Grants, Construction and Regeneration Act 1996 (also known as the Construction Act) includes provisions to ensure payments are made promptly throughout the supply chain.		The Housing Grants, Construction and Regeneration Act 1996 (also known as the Construction Act) includes provisions to ensure payments are made promptly throughout the supply chain.

−	Section 110A(6) of the ~~Housing Grants, Construction and Regeneration~~ Act ~~1996~~ defines the “payment due date” as “…the date provided for by the contract as the date on which the payment is due”.	+	Section 110A(6) of the Act defines the “payment due date” as “…the date provided for by the contract as the date on which the payment is due”.

−	The payer must issue a payment notice within five days of the due date for payment, even if no amount is due, setting out the sum that the payer considers to be or to have been due at the payment due date and the basis on which that sum is calculated. Alternatively, if the contract allows, the payee may make an application for payment, which is treated as if it is the payment notice. The payer must issue a pay less notice if they intend to pay less than the amount set out in the payment notice, setting out the basis for its calculation.	+	The payer must issue a payment notice within five days of the due date for payment, even if no amount is due, setting out the sum that the payer considers to be or to have been due at the payment due date, and the basis on which that sum is calculated. Alternatively, if the contract allows, the payee may make an application for payment, which is treated as if it is the payment notice. The payer must issue a pay less notice if they intend to pay less than the amount set out in the payment notice, setting out the basis for its calculation.

	The contract must also provide for a final date for payment in relation to any sum which becomes due. The parties are free to agree how long the period is to be between the date on which a sum becomes due and the final date for payment. The payer must pay the notified sum on or before the final date for payment.		The contract must also provide for a final date for payment in relation to any sum which becomes due. The parties are free to agree how long the period is to be between the date on which a sum becomes due and the final date for payment. The payer must pay the notified sum on or before the final date for payment.

Designing Buildings at 07:56, 20 March 2019

2019-03-20T07:56:33Z

← Older revision		Revision as of 07:56, 20 March 2019
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−	The Housing Grants, Construction and Regeneration Act 1996 (also known as the Construction Act) includes provisions to ensure ~~that~~ payments are made promptly throughout the supply chain.	+	The Housing Grants, Construction and Regeneration Act 1996 (also known as the Construction Act) includes provisions to ensure payments are made promptly throughout the supply chain.

−	~~The 'due date' is~~ the ~~date when a payment becomes due~~, ~~triggering~~ the ~~payment process. The~~ due date ~~is not~~ the ~~date that a payment should be received (that is~~ the ~~'final~~ date ~~for payment'), it simply triggers~~ the payment ~~process. The agreed contract, or the time frames detailed in the Scheme for Construction Contracts, will define the due date(s)~~.	+	Section 110A(6) of the Housing Grants, Construction and Regeneration Act 1996 defines the “payment due date” as “…the date provided for by the contract as the date on which the payment is due”.

−	~~A '~~payment notice~~' should be served by the employer no later than 5~~ days ~~after~~ the due date, setting out the ~~amount~~ that ~~they consider~~ to be ~~due, along with details of how this has~~ been calculated.	+	The payer must issue a payment notice within five days of the due date for payment, even if no amount is due, setting out the sum that the payer considers to be or to have been due at the payment due date and the basis on which that sum is calculated. Alternatively, if the contract allows, the payee may make an application for payment, which is treated as if it is the payment notice. The payer must issue a pay less notice if they intend to pay less than the amount set out in the payment notice, setting out the basis for its calculation.

−	The final date for payment is ~~14 days after~~ the due date.	+	The contract must also provide for a final date for payment in relation to any sum which becomes due. The parties are free to agree how long the period is to be between the date on which a sum becomes due and the final date for payment. The payer must pay the notified sum on or before the final date for payment.

−	~~A pay less notice should be served no later than 5 days~~ before the final date for payment if the ~~employer intends~~ to ~~pay an amount that is less than that due~~.	+	If payment is not made on or before the final date for payment the payee can give notice under Section 112 of the Act to suspend performance of the contract.

−	~~= Find out more =~~	+	Under the Scheme for Construction Contracts, if a construction contract fails to provide an adequate mechanism for determining when a payment becomes due, the payment shall become due, that is, payable on the later of 7 days after the assessment date or the making of a claim by the payee. The final date for payment is 17 days after the date that payment became due.

−	=== Related articles on Designing Buildings Wiki ===	+	Under the Late Payment of Commercial Debts (Interest) Act 1998 the payment due date is referred to as an 'agreed payment day'.
		+
		+	= Related articles on Designing Buildings Wiki =

	* Default payment notice.		* Default payment notice.

Editor at 15:25, 12 April 2018

2018-04-12T15:25:01Z

← Older revision		Revision as of 15:25, 12 April 2018
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	* Pay less notice.		* Pay less notice.
	* Payment notice.		* Payment notice.
		+	* Payment schedule.
	* Scheme for construction contracts.		* Scheme for construction contracts.

	[[Category:Contracts_/_payment]] [[Category:Procurement]]		[[Category:Contracts_/_payment]] [[Category:Procurement]]