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Questions and Answers
What proportion of the estimated final Contract Price is used to calculate the proportion of the second half of the Retention Money?
What proportion of the estimated final Contract Price is used to calculate the proportion of the second half of the Retention Money?
- Two-fifths (40%) (correct)
- One-third (33.33%)
- One-half (50%)
- Three-fifths (60%)
When should the Contractor submit the Statement at Completion with supporting documents?
When should the Contractor submit the Statement at Completion with supporting documents?
- Within 120 days after receiving the Taking-Over Certificate for the Works
- Within 30 days after receiving the Taking-Over Certificate for the Works
- Within 84 days after receiving the Taking-Over Certificate for the Works (correct)
- Within 60 days after receiving the Taking-Over Certificate for the Works
Under what conditions is the Engineer entitled to withhold certification of the estimated cost of remaining work?
Under what conditions is the Engineer entitled to withhold certification of the estimated cost of remaining work?
- If the Contractor fails to submit the Statement at Completion
- If the estimated cost exceeds the original budget
- If any work remains to be executed under Clause 11 [Defects Liability] (correct)
- If there are changes in legislation affecting the remaining work
What documents should the Contractor submit along with the Statement at Completion?
What documents should the Contractor submit along with the Statement at Completion?
What should be included in the Statement at Completion submitted by the Contractor?
What should be included in the Statement at Completion submitted by the Contractor?
When is the proportion of the second half of the Retention Money certified and paid?
When is the proportion of the second half of the Retention Money certified and paid?
What adjustments should not be taken into account when calculating proportions related to the estimated contract value?
What adjustments should not be taken into account when calculating proportions related to the estimated contract value?
In what currency should other payments to the Employer by the Contractor be made?
In what currency should other payments to the Employer by the Contractor be made?
Under what conditions is the Employer entitled to terminate the Contract for the Employer’s convenience?
Under what conditions is the Employer entitled to terminate the Contract for the Employer’s convenience?
What action can the Employer take if the Contractor fails to comply with a notice under Sub-Clause 15.1 [Notice to Correct]?
What action can the Employer take if the Contractor fails to comply with a notice under Sub-Clause 15.1 [Notice to Correct]?
What does the Employer need to do after recovering any losses, damages, and extra costs following termination of the Contract?
What does the Employer need to do after recovering any losses, damages, and extra costs following termination of the Contract?
When should the Engineer proceed to agree or determine the value of the Works, Goods, and Contractor’s Documents after termination of the Contract?
When should the Engineer proceed to agree or determine the value of the Works, Goods, and Contractor’s Documents after termination of the Contract?
What should the Contractor use his best efforts to comply with immediately after termination of the Contract?
What should the Contractor use his best efforts to comply with immediately after termination of the Contract?
What may the Employer do with the Contractor’s Equipment and Temporary Works after termination of the Contract?
What may the Employer do with the Contractor’s Equipment and Temporary Works after termination of the Contract?
If the Engineer fails to certify in accordance with Sub-Clause 14.6, the Contractor may suspend work after giving not less than how many days' notice to the Employer?
If the Engineer fails to certify in accordance with Sub-Clause 14.6, the Contractor may suspend work after giving not less than how many days' notice to the Employer?
Under what conditions is the Contractor entitled to terminate the Contract?
Under what conditions is the Contractor entitled to terminate the Contract?
If the Contractor suffers delay and/or incurs Cost as a result of suspending work, the Contractor shall be entitled to:
If the Contractor suffers delay and/or incurs Cost as a result of suspending work, the Contractor shall be entitled to:
If the Employer becomes bankrupt or insolvent, what is the Contractor entitled to do?
If the Employer becomes bankrupt or insolvent, what is the Contractor entitled to do?
What happens if the Contractor subsequently receives the Payment Certificate, evidence, or payment before giving a notice of termination?
What happens if the Contractor subsequently receives the Payment Certificate, evidence, or payment before giving a notice of termination?
What action can the Contractor take if the Employer fails to comply with Sub-Clause 1.6 or Sub-Clause 1.7?
What action can the Contractor take if the Employer fails to comply with Sub-Clause 1.6 or Sub-Clause 1.7?
Under what circumstances can the Contractor suspend work?
Under what circumstances can the Contractor suspend work?
If the Employer substantially fails to perform his obligations under the Contract, what is the Contractor entitled to do?
If the Employer substantially fails to perform his obligations under the Contract, what is the Contractor entitled to do?
What should the Engineer do after receiving a notice of termination from the Contractor?
What should the Engineer do after receiving a notice of termination from the Contractor?
What is the deadline for the Contractor to submit a draft final statement with supporting documents?
What is the deadline for the Contractor to submit a draft final statement with supporting documents?
When does the Engineer issue the Final Payment Certificate?
When does the Engineer issue the Final Payment Certificate?
What does the Contractor need to submit when submitting the Final Statement?
What does the Contractor need to submit when submitting the Final Statement?
How long does the Contractor have to apply for a Final Payment Certificate if not already done so?
How long does the Contractor have to apply for a Final Payment Certificate if not already done so?
In what currency/currencies should the Contract Price be paid?
In what currency/currencies should the Contract Price be paid?
What happens if the Contractor fails to submit an application for a Final Payment Certificate?
What happens if the Contractor fails to submit an application for a Final Payment Certificate?
Under what circumstances shall the Employer not be liable to the Contractor for any matter or thing under or in connection with the Contract?
Under what circumstances shall the Employer not be liable to the Contractor for any matter or thing under or in connection with the Contract?
If the contractor fails to make a payment due to the employer, what action may the employer take?
If the contractor fails to make a payment due to the employer, what action may the employer take?
Under what conditions is the employer entitled to terminate the contract for the employer’s convenience?
Under what conditions is the employer entitled to terminate the contract for the employer’s convenience?
What does the employer need to do after recovering any losses, damages, and extra costs following termination of the contract?
What does the employer need to do after recovering any losses, damages, and extra costs following termination of the contract?
Under what circumstances can the contractor suspend work?
Under what circumstances can the contractor suspend work?
What is the deadline for the contractor to submit a draft final statement with supporting documents?
What is the deadline for the contractor to submit a draft final statement with supporting documents?
When should the engineer proceed to agree or determine the value of the works, goods, and contractor’s documents after termination of the contract?
When should the engineer proceed to agree or determine the value of the works, goods, and contractor’s documents after termination of the contract?
In what currency/currencies should the contract price be paid?
In what currency/currencies should the contract price be paid?
What is the deadline for the Contractor to submit a draft final statement with supporting documents?
What is the deadline for the Contractor to submit a draft final statement with supporting documents?
When does the Engineer issue the Final Payment Certificate?
When does the Engineer issue the Final Payment Certificate?
What happens if the Contractor fails to apply for a Final Payment Certificate?
What happens if the Contractor fails to apply for a Final Payment Certificate?
What is the currency in which the Contract Price is paid?
What is the currency in which the Contract Price is paid?
When is the Final Statement submitted?
When is the Final Statement submitted?
What must the Contractor submit with the Final Statement?
What must the Contractor submit with the Final Statement?
What is the Engineer's responsibility if there are disagreements or unverified parts in the draft final statement?
What is the Engineer's responsibility if there are disagreements or unverified parts in the draft final statement?
If the Engineer fails to certify in accordance with Sub-Clause 14.6, the Contractor may suspend work after giving not less than how many days' notice to the Employer?
If the Engineer fails to certify in accordance with Sub-Clause 14.6, the Contractor may suspend work after giving not less than how many days' notice to the Employer?
If the Contractor suffers delay and/or incurs Cost as a result of suspending work, the Contractor shall be entitled to:
If the Contractor suffers delay and/or incurs Cost as a result of suspending work, the Contractor shall be entitled to:
Under what circumstances shall the Employer not be liable to the Contractor for any matter or thing under or in connection with the Contract?
Under what circumstances shall the Employer not be liable to the Contractor for any matter or thing under or in connection with the Contract?
Under what conditions is the Contractor entitled to terminate the Contract?
Under what conditions is the Contractor entitled to terminate the Contract?
What happens if the Contractor subsequently receives the Payment Certificate, evidence, or payment before giving a notice of termination?
What happens if the Contractor subsequently receives the Payment Certificate, evidence, or payment before giving a notice of termination?
What may the Employer do with the Contractor’s Equipment and Temporary Works after termination of the Contract?
What may the Employer do with the Contractor’s Equipment and Temporary Works after termination of the Contract?
In what currency should the Contract Price be paid?
In what currency should the Contract Price be paid?
When should the Engineer proceed to agree or determine the value of the Works, Goods, and Contractor’s Documents after termination of the Contract?
When should the Engineer proceed to agree or determine the value of the Works, Goods, and Contractor’s Documents after termination of the Contract?
What should the Contractor use his best efforts to comply with immediately after termination of the Contract?
What should the Contractor use his best efforts to comply with immediately after termination of the Contract?
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Study Notes
FIDIC Contract Final Payment and Discharge Summary
- The contract requires the Engineer to certify estimated amounts separately in the Statement at completion.
- The Contractor must submit a draft final statement with supporting documents within 56 days of receiving the Performance Certificate.
- Disagreements or unverified parts of the draft final statement require the Contractor to provide further information and make agreed changes.
- If a dispute arises, an Interim Payment Certificate for agreed parts of the draft final statement is issued, and a Final Statement is submitted after resolution.
- The Contractor must submit a written discharge with the Final Statement, confirming full and final settlement of all moneys due.
- Within 28 days of receiving the Final Statement and discharge, the Engineer issues the Final Payment Certificate stating the amount finally due.
- If the Contractor fails to apply for a Final Payment Certificate, the Engineer determines the amount due and issues the certificate.
- The Employer is not liable for matters or things under the Contract, except for amounts included in the Final Statement and Statement at completion.
- The Contract Price is paid in the currency or currencies named in the Appendix to Tender, with specific provisions for payments in different currencies.
- Payment and deductions under various clauses are made in applicable currencies and proportions as specified in the Appendix to Tender.
- Damages specified in the Appendix to Tender are paid in the currencies and proportions specified in the Appendix to Tender.
- The text includes the contact details of Mustafa USALAN, suggesting that the document may be an excerpt from a larger document or communication.
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