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Certificate for Payment means a written certificate executed by the Authority indicating the amount that the Trade Contractor is entitled to be paid in connection with each Trade Contractor Application for Payment.

Application and Certificate for Payment means an application for payment in the form of American Institute of Architects Document G702, Application and Certificate for Payment, and American Institute of Architects Document G703, Continuation Sheets, showing by trade the cost of work on the Project and the cost of ...

Penultimate Payment ? 20% Upon submission and acceptance of the certification of works done by the Contractor reflecting Practical Completion, this must be accompanied by the properly executed original Practical Completion certificate and the Supervisor's Report (in the prescribed JSIF format), including minutes of ...

An Interim Payment Certificate is a formal document issued by the main contractor in response to a subcontractor's interim payment application. After evaluating the work completed, the main contractor issues a Payment Notice specifying the amount considered due, known as the Notified Sum.

Certified Amount means, with respect to a Payment Obligation, the Outstanding Amount of such Payment Obligation on the Certified Amount Fixed Date.

The Penultimate Certificate (AKA Practical Completion Certificate) is produced by the Contract Administrator stating that the Contractor has achieved Practical Completion.

An interim payment is an immediate payment for an immediate need. It is a sum of money advanced to a claimant from the total pot of compensation they will get at the end of their personal injury claim.

Interim payments in construction allow subcontractors to receive payment against works in stages, spreading the value and payment for the works over the length of the whole project rather than waiting for full and final payment at its conclusion.

An IPC is a document that is issued by the owner of a project (or their representatives) to the contractor. It certifies that the contractor has completed a certain amount of work and is entitled to receive payment for that work. The IPC is a legally binding document that can be used to resolve payment disputes.

An Interim Certificate is an important document that is issued by the appropriate authority during a construction project to signify the payment for the work completed as of a certain date. It is used to show the progress of the project and the payments made for the work completed up to the given date.