Interest on under certification
In the Open Standard
Shahzad MunawarMember for 23 years 3 months
- Created
- 0
- 1
0
With respect to Contractors, it is observed that Engineers/Consultants deliberately undervalue the work in monthly interim payment certificates. Due to this under certification the Engineers/Consultants holds a lot of money with this intention that the Contractors are not overpaid
The said under-certification causes a set back to the Contractor’s cash flow which severely affects its progress of Works.
Contractors oftenly claim interest on the late certification and late receipt of payments.
Can a Contractor claim interest on such under certified amounts?
The said under-certification causes a set back to the Contractor’s cash flow which severely affects its progress of Works.
Contractors oftenly claim interest on the late certification and late receipt of payments.
Can a Contractor claim interest on such under certified amounts?
Replies
Oldest firstNo replies yet. Be the first to answer.
Log in or join to reply
ProjectControls.com is free to join. Members can post questions, reply, vote and follow discussions.
Existing members: your original username and password still work. Forgot password?