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Construction Payment Contract
"I need a Construction Payment Contract for a 20-story commercial building project in Singapore, with monthly progress payments and a 5% retention sum, where the contract value is SGD 50 million and completion is expected by June 2025."
1. Parties: Details of the contractor and client/employer
2. Background: Context of the construction project and agreement
3. Definitions: Key terms used throughout the contract including SOPA-specific definitions
4. Scope of Work: Detailed description of construction works to be performed
5. Contract Sum: Total contract value and breakdown of major components
6. Payment Terms: Payment procedures, timelines and mechanisms compliant with SOPA requirements
7. Project Timeline: Construction schedule, completion dates, and milestone requirements
8. Variations: Process for handling changes to scope and associated payments
9. Default and Termination: Events of default, remedies, and termination procedures
10. Dispute Resolution: Process for resolving disputes including SOPA adjudication procedures
1. Performance Bond: Terms and conditions of performance security bond requirement
2. Liquidated Damages: Pre-agreed damages for delay or specific breaches of contract
3. Insurance Requirements: Specific insurance obligations and coverage requirements
4. Defects Liability: Terms for defects identification and rectification period
5. Environmental Compliance: Specific environmental protection requirements and compliance measures
1. Schedule 1 - Bill of Quantities: Detailed breakdown of quantities and rates for all work items
2. Schedule 2 - Payment Schedule: Detailed payment milestones, amounts, and timing
3. Schedule 3 - Technical Specifications: Detailed technical requirements and construction standards
4. Schedule 4 - Project Timeline: Detailed construction schedule with key milestones and deadlines
5. Schedule 5 - Form of Payment Claim: Template for submitting payment claims under SOPA
6. Schedule 6 - Form of Payment Response: Template for responding to payment claims under SOPA
Authors
Agreement
Business Day
Certificate of Payment
Completion Date
Construction Works
Contract Price
Contract Documents
Contractor
Date of Commencement
Defects
Defects Liability Period
Employer
Extension of Time
Final Account
Final Certificate
Force Majeure
Interim Payment
Letter of Award
Liquidated Damages
Materials
Payment Claim
Payment Response
Performance Bond
Practical Completion
Progress Payment
Project
Project Manager
Retention Sum
Site
Specifications
Subcontractor
Substantial Completion
Variation
Works
Progress Payments
Retention
Payment Claims and Responses
Variations
Performance Security
Time for Completion
Extensions of Time
Liquidated Damages
Defects Liability
Insurance
Indemnity
Force Majeure
Suspension of Works
Termination
Dispute Resolution
Intellectual Property
Confidentiality
Health and Safety
Environmental Compliance
Quality Assurance
Site Access and Conditions
Materials and Workmanship
Subcontracting
Assignment
Notices
Governing Law
Warranties
Record Keeping
Compliance with Laws
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