The Construction Payment Contract is a crucial document for managing payment obligations and cash flow in construction projects within Hong Kong's jurisdiction. This contract type is specifically designed to comply with Hong Kong's Security of Payment Legislation (SOPL) and related construction regulations, providing a structured framework for handling progress payments, variations, and payment disputes. It is typically used when establishing payment terms between developers/employers and contractors, or between main contractors and subcontractors. The document addresses key aspects such as payment application procedures, certification timelines, dispute resolution mechanisms, and ensures protection of payment rights for all parties involved. With increasing regulation of construction payment practices in Hong Kong, this document has become essential for ensuring legal compliance and maintaining smooth project cash flow.
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1. Parties: Identification of the contracting parties - employer/principal and contractor, including full legal names and addresses
2. Background: Context of the agreement, project overview, and relationship between the parties
3. Definitions and Interpretation: Definitions of key terms and interpretation rules for the contract
4. Scope of Works: Detailed description of the construction works to be performed
5. Contract Sum and Payment Terms: Total contract value, payment schedule, and payment mechanics including compliance with SOPL
6. Payment Application Process: Procedures and timelines for payment applications, certifications, and processing
7. Time for Performance: Project timeline, completion dates, and milestone requirements
8. Variations: Process for handling changes to scope, pricing of variations, and approval procedures
9. Default and Termination: Events of default, remedies, and termination procedures
10. Dispute Resolution: Process for resolving disputes, including adjudication under SOPL and arbitration provisions
11. Insurance and Indemnities: Required insurance coverage and indemnification obligations
12. General Provisions: Standard contractual provisions including notices, governing law, and entire agreement
1. Performance Security: Requirements for performance bonds or guarantees, used when additional security is required
2. Retention: Provisions for retention money, if applicable to the project
3. Subcontracting: Rules and procedures for subcontracting, required if subcontracting is permitted
4. Intellectual Property Rights: IP provisions, necessary when design or innovative construction methods are involved
5. Environmental Compliance: Environmental obligations, required for projects with significant environmental impact
6. Force Majeure: Provisions for unforeseen events, particularly relevant in light of recent global disruptions
7. Liquidated Damages: Pre-determined damages for delay or performance failures, if agreed between parties
8. Quality Assurance: Specific quality control requirements, necessary for complex projects
9. Site Access and Conditions: Provisions regarding site access and existing conditions, important for brownfield sites
1. Schedule 1 - Scope of Works: Detailed technical specifications and drawings
2. Schedule 2 - Payment Schedule: Detailed breakdown of payment milestones and amounts
3. Schedule 3 - Programme of Works: Detailed project timeline and milestone dates
4. Schedule 4 - Site Information: Site details, access points, and relevant site conditions
5. Schedule 5 - Key Personnel: List of key personnel from both parties with roles and responsibilities
6. Schedule 6 - Required Insurance: Detailed insurance requirements and coverage levels
7. Schedule 7 - Forms and Notices: Standard forms for payment applications, variations, and other notices
8. Schedule 8 - Quality Standards: Specific quality standards and testing requirements
9. Appendix A - Special Conditions: Any special conditions or requirements specific to the project
10. Appendix B - Technical Specifications: Detailed technical requirements and standards
Relevant legal definitions
Clauses
Relevant Industries
Construction
Real Estate Development
Infrastructure
Commercial Property
Residential Property
Industrial Development
Urban Renewal
Public Works
Engineering Services
Building Services
Relevant Teams
Legal
Finance
Commercial
Construction
Project Management
Contract Administration
Procurement
Risk Management
Development
Operations
Relevant Roles
Project Director
Construction Manager
Contract Administrator
Quantity Surveyor
Project Manager
Commercial Director
Finance Director
Legal Counsel
Risk Manager
Chief Financial Officer
Construction Director
Development Manager
Site Manager
Procurement Manager
Claims Manager
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