Under the Short contract, are the items on the price list of to be 100% complete before they are considered for payment or can they be paid on a percentage complete basis. For example, if an item is for foundations of houses can they be amount be paid as each house is complete or does every foundation in the development have to be complete?
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The Price List under the short contract will be a mixture of lump sum elements and items based upon a unit rate ( the former being like an ECC option A element and the latter being option B). The lump sum items on the Price List will be paid upon completion, and the items based upon unit rates/quantities will be paid as completed items at that unit rate. So it is likely to be a mixture of the two.
If the item is for “foundations - £10k” i.e. a lump sum then there is no percentage complete. If it is a quantity based item of “10 foundations at £1k each” then the Contractor will be paid as each unit rate is completed.