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when to release the 15% advance payment for project construction

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when to release the 15% advance payment for project construction

Post by lowie on Thu Jan 19, 2017 7:25 pm

hello... may i seek everyone's help on my inquiry about 15% advance payment for infrastructure......... Suppose, the contractor claims cash advance beyond the prescribed period after the signing of contract, is he still allowed to claim advance payment? please guys help me on this topic.....
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Re: when to release the 15% advance payment for project construction

Post by leobcaleja on Fri Jan 20, 2017 10:22 am

As long as the contractor has complied with the requirements for the release of the advance payment.
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Re: when to release the 15% advance payment for project construction

Post by lowie on Fri Jan 20, 2017 10:46 am

What if the claim is done 7 months after the signing of the contract, that instead of progress payment, advance payment is being claimed by the contractor?
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Re: when to release the 15% advance payment for project construction

Post by leobcaleja on Fri Jan 20, 2017 4:57 pm

So after 7 months the contractor has not billed any progress payment? Is there a problem in the implementation of the project?

Usually there is a period of recoupment for the advance payment and the advance payment must be covered by a bond.
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Re: when to release the 15% advance payment for project construction

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