SCHEDULETHE SCHEME FOR CONSTRUCTION CONTRACTS

PART II—PAYMENT

Dates for payment5

The final payment payable under a relevant construction contract, namely the payment of an amount equal to the difference (if any) between—

a

the contract price, and

b

the aggregate of any instalment or stage or periodic payments which have become due under the contract,

shall become due on the expiry of—

a

30 days following completion of the work, or

b

the making of a claim by the payee,

whichever is the later.