ABSTRACT

Payment by instalments 5.04 A party to a construction contract is entitled to payment by instalments only if the contract specifi es that the duration of the work is to be 45 days or more or if it has been agreed by the parties, or if it is estimated, that the work will be of a greater duration. When calculating the duration of the work, Christmas Day, Good Friday or other bank holidays should not be included, but weekends are included within the 45-day period. The same method of calculation should be adopted when determining notice periods under the Scheme.