Interim payment.

Interim payment.

Postby hnQ_9999 » Sat Mar 25, 2017 11:50 am

For whoever has done this before, please explain:
GC and Owner disagreed a CO amount of $10k vs $5K over an item of 5 month-period installation, and pending mediation.
a) Interim payments certified by Architect in this case will depend on % complete, but will sum up between $5K & $10K at the end ?
b) Interim Payments will depend on % complete but never sum up to pass $5K at the end ?
Thx.
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Re: Interim payment.

Postby hnQ_9999 » Tue Apr 18, 2017 8:52 am

This is NOT a test question (I promise).
Anyone ?
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Re: Interim payment.

Postby elduderino1234 » Tue Apr 18, 2017 10:38 am

The architect would and should send the application for payment with the number that they feel is correct. If the contractor thinks the cost of the work is $10,000, but the architect and owner think $5,000, the contractor would be paid $5,000. The remaining balance, if still disagreed upon by the architect (assuming architect is the initial decision maker), it would go to mediation. Make sense?
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Re: Interim payment.

Postby hnQ_9999 » Thu Apr 20, 2017 8:26 am

I partly agree with you.
a) We know what to do w/ interim pymt in CDr situation
(because we are sided w/ Owner in issuing CDr).
b) In case CO is in dispute and pending Mediation (not IDM),
architect certifies interim pymt per GC sch of value,
which previously submitted by GC. And the only "freedom"
Architect has is the judgment of "percent complete" per SOV,
not the money amount being in dispute (per se).
c) Being said that, there is no loophole in Arch part should
any claim arise re. Architect liability in interim pymt.
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Re: Interim payment.

Postby Coach » Thu Apr 20, 2017 1:06 pm

hnQ_9999 wrote:b) In case CO is in dispute

There is no such thing. By definition, a CO is agreed upon by all parties.
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Re: Interim payment.

Postby standard » Thu Apr 20, 2017 7:03 pm

And that makes 1,000. Youre like the Hank Aaron of awesome posts.
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