2 Key Lessons Every Contractor Must Hear About Payment Applications in Construction Projects
Most employers do not pay for construction projects at once. Rather, the employers make these payments in instalments and as provided in the contract.
One important mechanism for payment in a construction contract is the contractor’s payment application. The payment application is important as it assists the employer to find out the value of work done and the amount due the contractor.
Several construction contracts provide for payment applications. Typically, the payment application will show
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