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Construction Payment/Cost

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Understanding Construction Contracts

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Abstract

Price and payment are important provisions in every construction contract. Contractors, subcontractors, and suppliers all require a certain amount of cash to finance their ongoing operations. For this reason, payment terms usually are spelled out in great detail in construction contracts. The interrelation between time and money is always of major importance to both the Owner and the General Contractor.

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Reference and Further Reading

  1. CCDC-2. (2008). Canadian Construction Document Committee. Stipulated price contract.

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  2. The FIDIC. (1999). Conditions of contract for construction – (Red book). Author FIDIC.

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  3. Ontario Construction Lien Act R.S.O, 1990, Chapter C30- Last Amended 2010,c.16,sched 2,s.2- Consolidation Period: From July 1, 2011 to e-Laws currency Date Nov 26, 2013.

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  4. OPS. (2006). General conditions of contract- Ontario provincial standards for roads & public works- OPSS. MUNI 100.

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  5. CCDC. (2001). Canadian Construction Document Committee – Statutory Declaration forms 9A.

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  6. Takeover Procedures- Ontario Association of Architects and Ontario General Contractors Association (OAA/OGCA) – Document # 100.

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  7. Ontario Provincial Standard Specification- OPSS 127. (2015). Schedule of rental rates for construction equipment, including model and specification reference.

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  8. Hanscomb. (2014). Yardsticks For costing- Cost data for the Canadian construction industry. Published By RS Means.

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  9. Levin, P. (1998). Construction contract claims, changes & dispute resolution. Reston: ASCE (American Society of Civil Engineers) Press USA.

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Authors and Affiliations

  1. IBI Group, Mississauga, ON, Canada

    Akhtar Surahyo

Authors
  1. Akhtar Surahyo
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© 2018 Springer International Publishing AG

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Surahyo, A. (2018). Construction Payment/Cost. In: Understanding Construction Contracts. Springer, Cham. https://doi.org/10.1007/978-3-319-66685-3_12

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  • DOI: https://doi.org/10.1007/978-3-319-66685-3_12

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  • Publisher Name: Springer, Cham

  • Print ISBN: 978-3-319-66684-6

  • Online ISBN: 978-3-319-66685-3

  • eBook Packages: EngineeringEngineering (R0)

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