Important Dates under the JCT Standard Building Contract Without Quantities (SBCXQ) 2016

What is the Final Date for Payment?

The final date for payment under the JCT SBCXQ 2016 contract is 14 days from its due date (Clause 4.11.1).

What is the Due Date for Payment?

The due date for an interim payment under the JCT SBCXQ 2016 contract is 7 days after the relevant Interim Valuation Date (Clause 4.8.1).

What 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 Date of Possession, and thereafter it is the same date in each month or the nearest Business Day in that month (Clause 4.8.1).

If you need help drafting a copy of the JCT Standard Building Contract Without Quantities (SBCXQ) 2016 for use on your project, contact Hamshaw today.