Construction Interim Payment Process Explained

Interim payments are vital for construction projects which span over a long duration, as it enables on-going financing for the contractor. However, interim payments are not just a convenience for the contractor, it’s also a requirement under UK law - Housing Grants, Construction and Regeneration (HGCR) Act 1996. In this video we’re going to look at what the law says and what process needs to be followed.

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0:00 Introduction
0:27 HGCR Act 1996
1:02 Importance of Understanding
1:25 NEC 21-day Payment Cycle
2:58 Metroun

#QuantitySurveying #Construction #Infrastructure

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