Paragraph 12 Interpretation

In this Part–

• “claim by the payee” means a written notice given by the party carrying out work under a construction contract to the other party specifying the amount of any payment or payments which he considers to be due, specifying to what the payment relates (or payments relate) and the basis on which it is, or they are, calculated;

• “contract price” means the entire sum payable under the construction contract in respect of the work;

• “relevant construction contract” means any construction contract other than one–

  1. (a)

     which specifies that the duration of the work is to be less than 45 days; or

  2. (b)

     in respect of which the parties agree that the duration of the work is estimated to be less than 45 days;

• “relevant period” means a period which is specified in, or is calculated by reference to, the construction contract or, where no such period is so specified or is so calculable, a period of 28 days;

• “value of work” means an amount determined in accordance with the construction contract under which the work is performed or, where the contract contains no such provision, the cost of any work performed in accordance with that contract together with an amount equal to any overhead or profit included in the contract price;

• “work” means any of the work or services mentioned in section 104 of the Act.