PPR - 2007, Rule 124
124. Final Payment:
(1) After the completion of work as per the procurement contract has been accepted by the Public Entity, the final payment to the supplier, construction entrepreneur, service provider or consultant shall be made as per the terms and conditions of the contract.
(2) In giving final payment pursuant to Sub-rule (1), in the case of construction work, the performance security and fifty percent amount of the retention money deducted pursuant to Sub-rule (4) of Rule 123 shall be returned back after expiry of the defects liability period. The remaining fifty percent amount of the retention money shall be paid after the concerned supplier, construction entrepreneur or service provider submits evidential documents issued from the concerned Inland Revenue Office of having submitted income return.
Provided that if the concerned construction entrepreneur does not correct the defects within the defects liability period, the Public Entity may correct the defects by using the retention money or the security amount.
(3) A procurement contract may provide that the construction entrepreneur, supplier, service provider, or consultant shall, for obtaining final payment, not make any claim other than the following one:-
(a) Special claim,
(b) The liability of the construction entrepreneur, supplier, service provider or consultant to a third party arisen or likely to arise in carrying out procurement works, and
(c) Claim of the reimbursement relating to the liability borne by a construction entrepreneur, supplier, service provider or consultant in respect of a third party while performing procurement contract, but not claimed with the Public Entity and not having information in time.
SBD (for medium contract for construction of bridges) Section IV GCC: clause 56 Final Account
56. Final Account
56.1 The Contractor shall supply the Project Manager with a detailed
account of the total amount that the Contractor considers payable under
the Contract before the end of the Defects Liability Period. The
Project Manager shall issue a Defects Liability Certificate and certify
any final payment that is due to the Contractor within 60 days of
receiving the Contractor’s account if it is correct and complete. If it
is not, the Project Manager shall issue within 60 days a schedule that
states the scope of the corrections or additions that are necessary. If
the Final Account is still unsatisfactory after it has been
resubmitted, the Project Manager shall decide on the amount payable to
the Contractor and issue a payment certificate.
PWD Part III, Medium Contract, Clause 57 Condition of Contract
57. Final Account
57.1 The Contractor shall supply the Project Manager with a detailed account of the total amount that the Contractor considers payable under the Contract before the end of the Defects Liability Period. The Project Manager shall issue a Defects Liability Certificate and certify any final payment that is due to the Contractor within 56 days of receiving the Contractor’s account if it is correct and complete. If it is not, the Project Manager shall issue within 56 days a schedule that states the scope of the corrections or additions that are necessary. If the Final Account is still unsatisfactory after it has been resubmitted, the Project Manager shall decide on the amount payable to the Contractor and issue a payment certificate.