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The Interim Payment Agreement is essential for projects requiring regular payments before final completion, particularly in construction and large-scale commercial developments in Ireland. This agreement type is commonly used when parties need to establish clear payment mechanisms, timelines, and procedures for interim payments while ensuring compliance with Irish law, particularly the Construction Contracts Act 2013. It addresses key aspects such as payment applications, certification processes, notice requirements, and dispute resolution procedures. The agreement is particularly relevant for projects where cash flow management is crucial and where parties need to establish transparent and legally compliant payment procedures. It helps minimize payment-related disputes by clearly defining rights, obligations, and procedures for all parties involved.
