Hi,
A Main Contractor calculated the Final Payment for a Sub contract under JCT Sub Contract Dom/1. The MC had sent the S/C the Final Account.
A)If the S/C had not reply,
1) how long do the MC had to wait before it is concluded?
2) what are the procedures and the pro & cons?
B) If the S/C reply in a letter rejecting the calculation but did not offer his calculation,
3) Can the MC do any thing?
4) How long the MC have to wait before the account can be concluded?
C) The process of Final Account:
a) Practical completion.
b) 2 months wait for S/C to submit all relevant documents for Ascertaining Sub Contract Sum
c) MC calculate Final Payment
d) MC issue to S/C
e) When Final Payment due?
f) Issue Final Certificate
g) Proceeding to Adjudication?
h) No proceedings, assume accepted Final Certificate.
h1) If Adjudication, wait until concluded
j) Adjust as per decision.
Correct if I had mistaken & what are the implications in each steps.
Thanks
Is Dom/1 still in use? or superseed by others?
A Main Contractor calculated the Final Payment for a Sub contract under JCT Sub Contract Dom/1. The MC had sent the S/C the Final Account.
A)If the S/C had not reply,
1) how long do the MC had to wait before it is concluded?
2) what are the procedures and the pro & cons?
B) If the S/C reply in a letter rejecting the calculation but did not offer his calculation,
3) Can the MC do any thing?
4) How long the MC have to wait before the account can be concluded?
C) The process of Final Account:
a) Practical completion.
b) 2 months wait for S/C to submit all relevant documents for Ascertaining Sub Contract Sum
c) MC calculate Final Payment
d) MC issue to S/C
e) When Final Payment due?
f) Issue Final Certificate
g) Proceeding to Adjudication?
h) No proceedings, assume accepted Final Certificate.
h1) If Adjudication, wait until concluded
j) Adjust as per decision.
Correct if I had mistaken & what are the implications in each steps.
Thanks
Is Dom/1 still in use? or superseed by others?