MANE BUILDING CONTRACTS
STAGE PAYMENTS
Stage Payments Requirement
Payments will be required regularly throughout the duration of the project. The payment schedule may be adjusted by mutual agreement, as necessary, to reflect any changes to the scope of works.
Variation of Work and Impact on Payments
The scope of the project may evolve as work progresses, whether due to unforeseen circumstances, variations in design, or other factors. Any such changes to the scope of the project may require adjustments to the payment schedule, which will be determined in good faith by both parties. The Builder agrees to provide an updated payment schedule reflecting any changes in the scope of work, and both parties must approve any alterations before work proceeds.
Withholding of Payments
If any payment is withheld by the Client for any reason, including but not limited to disputes over the work completed, the Builder shall be notified in writing of the reasons for the withholding. The Builder and Client shall work together to resolve any issues in a timely manner. However, if payment is withheld for an unreasonable period, the Builder may suspend the work or terminate the contract. Any delay in payment may also result in delays to the project timeline, as the Builder's ability to continue work depends on the receipt of regular payments.
Project Delays or Termination
Failure to make payments in accordance with the agreed schedule or any delayed payments may result in project delays or, in the event of significant withholding or non-payment, the termination of the contract. In the event of termination due to withheld payments, the Builder shall be entitled to compensation for any work completed up until the termination date, including any associated costs or losses incurred as a result of the termination.