My EA issued a Pay Less Notice setting out various deductions which meant the interim valuation went into negative figure. The contractor is disputing the validity of the Pay Less Notice because it did not expressly state “Nil” is due to the contractor. Is the Pay Less Notice valid?
If the Payless Notice showed how the Interim Valuation was derived and that it went into the negative then it is valid despite the word ‘NIL’ not being there.