Hero Knowledge Payment

Payment

Hero Knowledge Payment

Payment | 07 May 2024

What is an application for payment?

An "application for payment" is a formal request made by a contractor or subcontractor to the employer or main contractor for payment for work done, materials on or off site, or services provided during a specific period. The application for payment is a crucial part of the payment process in construction projects and is often linked to the terms outlined...

Read more

Hero Knowledge Payment

Payment | 27 March 2024

What is the difference between a payment notice and a pay less notice in a construction contract?

Both payment notices and pay less notices are important components related to the payment process. These terms are specifically associated with the requirements outlined in the Housing Grants, Construction and Regeneration Act 1996 (Construction Act). Here is a brief explanation of each: 1. Payment Notice:A payment notice is a document provided by the party making a payment (payer) to the...

Read more