Design and build agreement know all men by these presents
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- TOTAL ₱ 10,090,076.70
- ADMINISTRATION OF PROJECT EXECUTION ARTICLE 1. THE CONTRACT DOCUMENTS
| ARTICLE 4. PAYMENTS
4.1 Payments on account of this Contract shall be made by the Owner to the Engineer in the following manner: Upon Start of Construction - ₱ 1,009,076.70 After 1st Month of Construction - 1,026,773.33 After 2nd Month of Construction - 1,098,773.33 After 3rd Month of Construction - 945,440.00 After 4th Month of Construction - 1,104,192.66 After 5th Month of Construction - 1,266,119.78 After 6th Month of Construction - 573,263.55 After 7th Month of Construction - 766,093.42 After 8th Month of Construction - 766,093.42 After 9th Month of Construction - 525,864.11 Retention - 1,009,076.70 TOTAL ₱ 10,090,076.70 4.2 Retention shall be released by issuing a PDC check dated 30 days after turn-over date. However, the said check shall be encashed upon the advice of the owner after the Engineer Notice. 4.3 Payment delay of 2 weeks upon submission of billing report Engineer will hold construction work until payment is made. 4.4 All payments due to the Engineer will be made through the account of the Architect as indicated in Article II. of Section I. above. ADMINISTRATION OF PROJECT EXECUTION ARTICLE 1. THE CONTRACT DOCUMENTS 1.1 The following documents as prepared by the Architects, submitted to and approved by the Office of the Building Officials, shall constitute an integral part of this contract as fully as if thereto attached or herein stated, except as otherwise modified by mutual agreement of parties: Architectural Drawings, Structural Drawings, Electrical Drawings, Plumbing/Sanitary Drawings, Specifications and Minimum Standards of All Materials, and General Considerations (see Appendixes – to --). Download 91 Kb. Share with your friends:
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