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    Payment Schedule FNL

    Uploaded by

    Andrew Araha
    This document outlines a payment schedule for a construction project with 7 milestone payments. It lists the key tasks and deliverables for each milestone and the percentage of the total payment allocated to that milestone. A retention amount of 5% is withheld from each payment and released after the 6 month defects liability period once all defects are signed off.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Payment Schedule FNL

    Uploaded by

    Andrew Araha
    65 views2 pages
    This document outlines a payment schedule for a construction project with 7 milestone payments. It lists the key tasks and deliverables for each milestone and the percentage of the total payment allocated to that milestone. A retention amount of 5% is withheld from each payment and released after the 6 month defects liability period once all defects are signed off.

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    Payment Schedule fnl

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    This document outlines a payment schedule for a construction project with 7 milestone payments. It lists the key tasks and deliverables for each milestone and the percentage of the total payment allocated to that milestone. A retention amount of 5% is withheld from each payment and released after the 6 month defects liability period once all defects are signed off.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    65 views2 pages

    Payment Schedule FNL

    Uploaded by

    Andrew Araha
    This document outlines a payment schedule for a construction project with 7 milestone payments. It lists the key tasks and deliverables for each milestone and the percentage of the total payment allocated to that milestone. A retention amount of 5% is withheld from each payment and released after the 6 month defects liability period once all defects are signed off.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    PAYMENT

    SCHEDULE
    Payment amount Retention
    Payment Number Milestone Description
    Less 5% retention amount held
    Mobilization
     All materials and plant delivered to
    Payment 1
    site
    20%
     Project site established and set up
    ready for construction

     Excavation, membrane, formwork


    and reinforcing in place including
    starter bars
    Payment 2
     Reinforcing and blockwork for strip
    15%
    foundation.
    Foundation and  Reinforcing and formwork for floor
    concrete work slab
     Pre pour inspection, concrete work
    poured

    Payment 3  Block work and reinforcing for walls.


    15%  Walls up to roof height with bond
    Walls beams
     Truss and roofing frame, tie downs,
    Payment 4 chicken wire net, roof sheeting fixed
    20%  Fascia and barge board edging
    Roof and bracings  Guttering

     Electrical conduits/wiring, electrical


    fittings
     Interior walls lined and painted
     Skirting, and quarter rounds installed
    Payment 5  Ceiling’s lined and painted
    15%  Security doors
    Interior,  Interior walls plastered and painted
    Electrical,  Screen finish on floors
    plumbing a  Floor tiles
     Plumbing in ready for sink, shower,
    toilet connections
     Septic tank
     Soak way pit
     Water tank stand constructed and
    tank installed
    Payment 6
     Door hardware’s, window screens
    10%
    and external battens
    Exterior, furniture  Stairways and veranda railings
    & fittings  Exterior walls painted

    Payment 7  Final inspection and any


    5% defects/snag lists satisfactorily
    Final inspection & signed off
    completion cert  Demobilization
     Practical completion will be certified.
     At end of 6 month defects liability
    period.
    Retentions
     Payment made once all defects are
    signed off

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