Important Dates under the JCT Intermediate Building Contract with contractor’s design (JCT ICD) 2016

When is the Final Date for Payment?

The final date for payment is 14 days from the due date for each certificate (Clause 4.11.1)​

When is the Due Date for Payment?

The due date for an interim payment is 7 days after the relevant Interim Valuation Date (Clause 4.8.1)​

When is the Interim Valuation Date?

The Interim Valuation Date is specified in the Contract Particulars. If no date is stated, the first Interim Valuation Date is one month after the Works commencement date, and thereafter it is the same date in each month or the nearest Business Day in that month (Clause 4.8.1)​

When is the Works Commencement Date?

The Works commencement date is specified in the Contract Particulars (Clause 2.4)​

If the date is not provided in the document, it needs to be identified from the project's actual start date on-site

If you need help drawing up a copy of the JCT Intermediate Building Contract with contractor’s design (JCT ICD) 2016 for your project, contact Hamshaw today.