Interest charges are recoverable under the contract where such provisions exist and set out the rate recoverable. These provisions are tied to the payment provisions which flow from the certification process. Hence where a sum is certified and that sum is not paid in accordance with the time limits then interest becomes payable.
Related topics
| Topic | Replies | Views | Activity | |
|---|---|---|---|---|
| When are finance charges likely to be accepted? | 1 | 506 | 18 January 2013 | |
| Under what legislation are interest charges dealt with? | 1 | 516 | 18 January 2013 | |
| If an amount due is corrected in a later certificate following a decision of the Adjudicator or the tribunal, when is interest charged from? | 1 | 568 | 10 October 2012 | |
| If an amount due is corrected in a later certificate by the Project Manager in relation to a mistake or a compensation event, when is interest charged from? | 1 | 843 | 10 October 2012 | |
| Are the costs of accruals recoverable under a payment assessment in ECC Option C? | 1 | 999 | 25 June 2014 |