Final date for payment
The deadline for paying the relevant sum under the applicable payment mechanism, distinct from the due date.
by Jack Butler-Kettle · About 1 min readShare
Further detail
Read this alongside section 110 of the Housing Grants, Construction and Regeneration Act 1996 and section 111 of the Housing Grants, Construction and Regeneration Act 1996 and section 112 of the Housing Grants, Construction and Regeneration Act 1996.
The final date for payment is distinct from the due date used within the payment mechanism. It is the deadline for paying the relevant sum. Missing it may engage contractual or statutory remedies, but interest and suspension each have their own conditions and should not be assumed automatic.
Record the relevant due date, notices and final date together. Our Main-contract and subcontract administration support service maintains that calendar. If the properly due sum is overdue, Overdue payment recovery addresses the unpaid balance.
Sources
- Housing Grants, Construction and Regeneration Act 1996, s 110 (Dates for payment). legislation.gov.uk.
- Housing Grants, Construction and Regeneration Act 1996, s 111 (Requirement to pay notified sum). legislation.gov.uk.
- Housing Grants, Construction and Regeneration Act 1996, s 112 (Right to suspend performance for non-payment). legislation.gov.uk.