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Construction Payment Contract
"I need a Construction Payment Contract for a 20-story commercial building project in Singapore, with monthly progress payments and a 5% retention sum, where the contract value is SGD 50 million and completion is expected by June 2025."
1. Parties: Details of the contractor and client/employer
2. Background: Context of the construction project and agreement
3. Definitions: Key terms used throughout the contract including SOPA-specific definitions
4. Scope of Work: Detailed description of construction works to be performed
5. Contract Sum: Total contract value and breakdown of major components
6. Payment Terms: Payment procedures, timelines and mechanisms compliant with SOPA requirements
7. Project Timeline: Construction schedule, completion dates, and milestone requirements
8. Variations: Process for handling changes to scope and associated payments
9. Default and Termination: Events of default, remedies, and termination procedures
10. Dispute Resolution: Process for resolving disputes including SOPA adjudication procedures
1. Performance Bond: Terms and conditions of performance security bond requirement
2. Liquidated Damages: Pre-agreed damages for delay or specific breaches of contract
3. Insurance Requirements: Specific insurance obligations and coverage requirements
4. Defects Liability: Terms for defects identification and rectification period
5. Environmental Compliance: Specific environmental protection requirements and compliance measures
1. Schedule 1 - Bill of Quantities: Detailed breakdown of quantities and rates for all work items
2. Schedule 2 - Payment Schedule: Detailed payment milestones, amounts, and timing
3. Schedule 3 - Technical Specifications: Detailed technical requirements and construction standards
4. Schedule 4 - Project Timeline: Detailed construction schedule with key milestones and deadlines
5. Schedule 5 - Form of Payment Claim: Template for submitting payment claims under SOPA
6. Schedule 6 - Form of Payment Response: Template for responding to payment claims under SOPA
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