(1) Payments on account must be made monthly or at an interval agreed between the Project Manager and the Project Owner’s representative.
(2) Payments on account may be spread over the contract period, according to 64 periodic deadlines, or depending on technical execution phases, as specified under the contract.
(3) Payments on account shall be made no later than ninety (90) working days from the date the reports giving entitlement to payment are forwarded to the competent accountant.
(4) General or special administrative clauses shall specify the periods allowed for the Project Officer or, where applicable, the Project Manager, to produce the documents giving entitlement to payment on account.
(5) In any case, the period for making payments on account may not exceed 60 (sixty) working days from the date of forwarding the draft partial payment document to
the Project Manager, provided the document does not require correction.
SUB-SECTION IV
DEFAULT INTERESTS AND PENALTIES
Official text
Transcription: Spot-checked
In force from 20-06-2018
Source page 63
The document's transcription was spot-checked against the supplied source; this does not confirm a line-by-line review of every provision.
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