Dear All,
This is an interesting subject with verry limited resources to talk about.
When the Employer is delayed in paying the Contractor his monthly invoices certified by the Engineer, we all know that this will entitle the contractor to Interests for the delayed amounts over the delay period, as well as, the finance charges.
However, i could not find any resource handling the quantification of the effect the late payment caused on progress. we all know that such an action by the Employer, especially when the delay is excessive and repeatitive over consequen certificates will affect adversely the Contractor’s progress.
BUT HOW TO CALCULATE THE EFFECT??? PLEASE ADVICE
This is an interesting subject with verry limited resources to talk about.
When the Employer is delayed in paying the Contractor his monthly invoices certified by the Engineer, we all know that this will entitle the contractor to Interests for the delayed amounts over the delay period, as well as, the finance charges.
However, i could not find any resource handling the quantification of the effect the late payment caused on progress. we all know that such an action by the Employer, especially when the delay is excessive and repeatitive over consequen certificates will affect adversely the Contractor’s progress.
BUT HOW TO CALCULATE THE EFFECT??? PLEASE ADVICE