Investigation of Approximate Cost and Progress Payment
in Forest Road Construction Process, Kastamonu University Journal of Forestry Faculty 15 (1): 6-14.
(161) The official faces a "task of balancing the Government's interests in proceeding with the contract, against possible harm to the surety." (162) Under Balboa, before making a contractually obligated progress payment
, the government official must assess not only the status of the project (Factors 2,6), but also the contractor's mental state (Factor 1), the status of subcontractors with whom the government has no contractual relationship (Factor 5), and also the likelihood that another contractor could replace the current one at below cost (Factor 8), among others.
There is no reason that the changes to the progress payment
rate and the liquidation must be symmetrical.
This article will discuss the pros and cons of PBPs and when the use of PBPs should be considered, as well as compare and contrast use of PBPs with use of progress payments
based on costs.
Interest on late invoices or progress payments
are due automatically and must be included and noted in the government agency's payment.
Amirul Imran said he then prepared in March 2012 a circular paper for the KWAP investment panel to approve the change in payment of the RM2 billion from 'progress payment
' to 'one lump sum' to SRC International, according to the results of the KWAP CEO's discussion with the prime minister.
In July 2010 Mutiny executed a farm-in agreement with Redhill to acquire a 100% interest in the Gullewa tenements through a series of progress payments
State agencies, with the exception of the Arkansas Highway and Transportation Department, withhold ten percent of the progress payments
as retainage until the project reaches fifty percent completion, and not withhold any additional retainage after that time.
The court ruled that settlement discussions occurring after the contractor unequivocally notified the authority that it considered the contract terminated based upon the authority's failure to make progress payments
did not establish that the contract was still in force; discussions were merely an attempt by parties to work out a settlement of claims that would avoid litigation, and it was never contemplated that the contractor would return to complete work.
An owner may wish to utilize a general contract which specifically addresses the form and content of lien waivers and releases to be used by the general contractor, all subcontractors, and suppliers in conjunction with the submission of progress payment
and final payment applications on the job.
Now, there are only two methods for contractors to submit progress payment
requests: WAWF and paper.
Courts typically view the subcontractor as owning the materials until installation, but the owner may require a transfer of title when the subcontractor receives a progress payment
for them (but still has not installed them).