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156

Appendices

Appendix F
Preparation of Interim Payment Certificates
General
An internationally tendered contract can be expected to provide for payments
both in foreign currency and local currency. The ratio between foreign and
local currency payments will be fixed in the Contract for the measured
works. However, there will inevitably be a number of additional items and
adjustments, where the ratio between currencies will differ from that
applicable to the bulk of the currency.
The final appearance of the top sheet of the Interim Payment Certificate
will depend on the preferences of the Employer and the Engineer. For
example, it may be preferred that the top sheet provides separate columns
showing the amounts included in the Contract (previous amounts), totals
this month and total amounts to date. A horizontally drawn A3-sized
document would be appropriate.

Payments to Nominated Subcontractors (including Provisional Sums)


A separate calculation sheet will need to be prepared for the payments due
to nominated Subcontractors. This calculation sheet includes the percentage
on-cost due to the Contractor. It is possible that the ratio between foreign
currency and local currency will differ from that fixed for the Works.

Appendix F

Payment of Varied Works


The Employer and the Engineer will need to decide if payment for varied works
shall be included in the general evaluation of the Works or shown separately. It
is likely that there will be a unique ratio between foreign currency and local
currency. Further, if the Employer has a restricted budget, he may require that
the amounts expended are highlighted under this separate heading.

Valuation of Materials on Site


Since this item refers to the valuation of Materials on Site, it will be necessary
to measure the amounts of Materials actually on Site at the end of the
measurement period. The Contractor has to demonstrate that the Materials
comply with the requirements of the Contract. Values for site manufactured
Materials have to be negotiated.
An Employers and Engineers Guide to the FIDIC Conditions of Contract,
First Edition. Michael D. Robinson.
2013 John Wiley & Sons, Ltd. Published 2013 by John Wiley & Sons, Ltd.

Appendix F

157

Adjustment for Changes in Legislation (Sub-Clause 13.7)


Increases or decreases in Cost arising from Changes in Legislation are limited
to those costs arising from a change in the Laws of the Country. Consequently
the adjustment will be valued entirely in local currency.

Adjustment for Changes in Cost (Sub-Clause 13.8)


Increases or decreases in Cost may arise from increases/decreases in the value
of both foreign and local indices. The adjustment will therefore be made in
both foreign and local currencies. Standard practice is to apply the fixed
currencies ratio given in the Contract. There are a number of possible
variants. In many instances suitable local indices may not be available.
Consequently changes in cost of local labour and local materials may be
evaluated against actual payrolls and invoices, leaving only the foreign
adjustment to be calculated by the use of a formula proposed by FIDIC.

Deductions for Retention Money


The amount of retention to be deducted is calculated by applying the
percentage given in the Appendix to Tender until the limit of the Retention
Money is reached.

Once a Taking-Over Certificate is issued, a portion of the Retention is to be


returned. The Engineer is entitled to withhold certification of the estimated
cost of outstanding work until it has been completed. The calculation of the
amount to be returned in respect of Sections or Parts is a little more
complicated than for the whole of the Works as indicated in the following
table.

Appendix F

Return of Retention for the Works or Sections or Parts

158

Appendices

Whole of the
Works

Section of the
Works

Part of the
Works

(%)

(%)

(%)

100
50

100
40*

100
40*

50

60

60

Amount of Retention Money


Repayment due on Taking-Over
Balance

|
Repayment due on expiry of the
Defects Notification Period for a
Section

|
|
40*-----------------------|
|
|
|

Repayment due on expiry of the


Defects Notification Period for the
whole of the Works

Payable only when


parts comprise a
whole section

|
|
50----------------------|

*These portions are calculated by dividing the estimated contract value of the Section or part by the
estimated final Contract Price.

Summary of release of retention money

Appendix F

Parts
1.1 An initial 40% is due on taking over.
1.2 A second 40% is due once the last of the Defects Notification Periods of the
parts comprising a Section expires.
1.3 The remaining 20% is included in the provisions of 2.3 below.

Sections
2.1 An initial 40% is due on taking over.
2.2 A second 40% is due once the Defects Notification Period for the Section
expires.
2.3 The remaining 20% for all Sections is due once the Defects Notification
Period forthe last Section expires.

Whole
3.1 The first 50% is due on taking over.
3.2 The second 50% is due once the Defects Notification Period for the whole
of the Works expires.

Appendix F

PROJECT TITLE

CONTRACT NO......................

INTERIM PAYMENT CERTIFICATE No..........

FOR MONTH/YEAR...................

159

CONTRACTOR (Name)
Foreign Currency

Local
Currency

Measured Works
Add Payment to Nominated Subcontractors
Add Payment of Varied Works
Add Payment of Claims
Add Valuation of Dayworks
Add Valuation of Materials on Site
Add Changes in Legislation Cl. 13.7
Add Changes in Cost Cl. 13.8
Subtotal (1)
Deduct Retention Money (Limit %)
Subtotal (2)
Add

Return of Retention Money


Subtotal (3)

Add Advance Payment


Subtotal (4)

Appendix F

Deduct Repayment of Advance


Subtotal (5)
Deduct Amounts Previously Certified
Amounts now certified for payment
Certified ............................

Submitted by .........................

Title/Position ..........................

Title/Position ..........................

Date ...........................

Date ........................................