dec 8, 2020 - Pre-contract agreement***

Description:

Contract: JCT Intermediate 2016 with CDP (£61)

Start Date: 18/01/2021

Completion Date: w/c 27/09/2021 (01/10/21 final day)

Contract Sum: £385,714.00 + VAT

Advance Payment: £40,000 + VAT

Advance Payment Repayment Terms: £2000 + VAT per 2 weeks

Valuation Frequency: 2 weeks

Liquidated and Ascertained Damages (LAD): £1750 per week (contractor wants to minimise LAD based on the amount of units completed - not possible if contract is run under one end date)

Payment Terms: Final Date For Payment 7 Days after the Certificate Issue Date

The Contract will be executed Under Hand, not as a Deed.

Sectional Completion and Sectional LADs are a viable option for Contractor. This will reduce the amount of LAD but does increase administration work.

Added to timeline:

Date: