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NEC ECC: Option E payments

0 votes
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Accrual payments are permitted under option E for the current period. (assume 30 day payment from month end)
e.g.
Application for payment date (say submitted 15th of each month)
Assessment date (say the last day of each month)
Certificate date (11 days from assessment date)
Due date (7 days from certification date) (Y(UK)2)
Final date for payment (14 days from due date) (Y(UK)2)

So if we accrue an amount in the application at what point does it need to be paid for consideration in period?.
asked Feb 17 in Main options by Stephen Braddock (230 points)  

1 Answer

0 votes
You are allowed to include forecast Defined Cost provided the cost will have been paid by the next assessment date, so if your assessment date is 30th of the month you can include cost you are forecasting to pay before the 30th of the next month.
answered Feb 17 by Neil Earnshaw Panel Member (31,100 points)