Paragraph 5 I1

The final payment payable under a relevant construction contract, namely the payment of an amount equal to the difference (if any) between—

(a)

the contract price, and

(b)

the aggregate of any instalment or stage or periodic payments which have become due under the contract,

shall become due on F1 F2...—

(a)

F3F4the expiry of 30 days following completion of the work, or

(b)

the making of a claim by the payee,

whichever is the later.

Annotations

F1: Words in Sch. Pt. 2 para. 5 omitted (W.) (1.10.2011) by virtue of The Scheme for Construction Contracts (England and Wales) Regulations 1998 (Amendment) (Wales) Regulations 2011 (S.I. 2011/1715), regs. 1(1), 4(2) (with reg. 1(2)(3))
F2: Words in Sch. Pt. 2 para. 5 omitted (E.) (1.10.2011) by virtue of The Scheme for Construction Contracts (England and Wales) Regulations 1998 (Amendment) (England) Regulations 2011 (S.I. 2011/2333), regs. 1(1), 4(2)(a) (with reg. 1(2)(3))
F3: Words in Sch. Pt. 2 para. 5 inserted (W.) (1.10.2011) by The Scheme for Construction Contracts (England and Wales) Regulations 1998 (Amendment) (Wales) Regulations 2011 (S.I. 2011/1715), regs. 1(1), 4(2) (with reg. 1(2)(3))
F4: Words in Sch. Pt. 2 para. 5 inserted (E.) (1.10.2011) by The Scheme for Construction Contracts (England and Wales) Regulations 1998 (Amendment) (England) Regulations 2011 (S.I. 2011/2333), regs. 1(1), 4(2)(b) (with reg. 1(2)(3))