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Construction Payment Agreement

Construction Payment Agreement Template for Ireland

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Key Requirements PROMPT example:

Construction Payment Agreement

"I need a Construction Payment Agreement for a €50M commercial development project in Dublin, with milestone-based payments and retention provisions, scheduled to commence in March 2025."

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Document background
This Construction Payment Agreement is designed for use in Irish construction projects to establish clear, legally compliant payment procedures between contracting parties. It is particularly relevant when parties need to formalize payment arrangements in compliance with the Construction Contracts Act 2013 and other relevant Irish legislation. The agreement includes essential provisions for payment timing, valuation of works, notice requirements, and dispute resolution procedures. It is commonly used in both large-scale commercial construction projects and smaller development works, providing a framework for managing payment flows and protecting the interests of all parties involved. The document should be used whenever parties need to establish clear payment terms in construction projects, especially when the work involves substantial payments over time or multiple payment milestones.
Suggested Sections

1. Parties: Identification of the parties entering into the agreement, including full legal names, addresses, and company registration numbers

2. Background: Context of the agreement, including reference to the main construction contract and the purpose of this payment agreement

3. Definitions and Interpretation: Definitions of key terms used throughout the agreement and rules for interpreting the document

4. Payment Mechanism: Detailed process for payment applications, certification, and timing of payments in compliance with the Construction Contracts Act 2013

5. Payment Notice Requirements: Specifications for payment notices, responses, and pay-less notices as required by law

6. Payment Schedule: Timing and frequency of payments, including milestone payments if applicable

7. Valuation of Works: Method for valuing work completed, variations, and additional works

8. Dispute Resolution: Procedures for resolving payment disputes, including statutory adjudication rights

9. Set-off Rights: Circumstances under which amounts can be set off against payments

10. VAT and Taxation: Treatment of VAT and other applicable taxes

11. Term and Termination: Duration of the agreement and circumstances for termination

12. Governing Law and Jurisdiction: Confirmation of Irish law as governing law and jurisdiction

Optional Sections

1. Performance Security: Required when payment is linked to performance bonds or guarantees

2. Retention: Include when retention monies are to be held from payments

3. Project Bank Accounts: Required when using project bank accounts for payment management

4. Parent Company Guarantee: Include when payment obligations are backed by a parent company

5. Currency and Exchange Rates: Required for international projects involving multiple currencies

6. Early Payment Provisions: Optional provisions for early payment discounts or incentives

7. Sub-contractor Payment Terms: Required when agreement covers payments to sub-contractors

8. Force Majeure: Include when specific events might affect payment obligations

Suggested Schedules

1. Schedule 1 - Payment Application Form: Standard form for submitting payment applications

2. Schedule 2 - Rate Card: Agreed rates for labor, materials, and equipment

3. Schedule 3 - Payment Timeline: Detailed timeline showing payment due dates and notice periods

4. Schedule 4 - Supporting Documentation Requirements: List of required documents to support payment applications

5. Schedule 5 - Contact Details: Key contacts for payment-related communications

6. Schedule 6 - Measurement Rules: Rules for measuring and quantifying work completed

7. Appendix A - Main Contract Payment Terms: Relevant excerpts from the main construction contract

8. Appendix B - Form of Payment and Pay-Less Notices: Template notices required under the Construction Contracts Act

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions













































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Relevant Industries

Construction

Real Estate Development

Infrastructure

Commercial Property

Residential Development

Industrial Construction

Public Works

Healthcare Construction

Educational Facilities

Retail Development

Hospitality Construction

Energy Infrastructure

Relevant Teams

Legal

Finance

Operations

Commercial

Construction

Project Management

Risk Management

Procurement

Contracts Administration

Accounts Payable

Relevant Roles

Construction Manager

Project Manager

Quantity Surveyor

Commercial Director

Contracts Manager

Financial Controller

Construction Director

Operations Manager

Legal Counsel

Chief Financial Officer

Project Accountant

Construction Site Manager

Procurement Manager

Risk Manager

Claims Manager

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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