Difference Between provisions for Payment in FIDIC documents and Government of Nepal.

GON NCB FIDIC Documents

NCB 1S;2E Works NCB 1S;2E EPC RED YELLOW SILVER
Advanced The advance payment is mentioned to be performed The employer shall pay the amount The advance payment is mentioned to be
Payment Period in two equal installments after submission of certified in each advance payment within performed within period stated in Sun Clause
advance payment security according of time frame period stated in Contract Data (if not 14.2.2 which is within 14 days after employers
detailed in SCC. Stated,21 days) after the employer receives receives both Performance Security and Advance
the Advanced Payment Certificate. Payment Guarantee as well as Contractor’s
application for the advance payment under Sub-
Clause 14.2.1
Interim and Amount in Payment Amount in Payment The amount certified in IPC/FPC by the The amount in Partially Agreed Final
Final Payment certificate adjusted for certificate adjusted for Engineer Statement/Final statement by the Employer
Amount deduction for advance deduction for advance
payments and payments and retention by
retention by the the Employer
Project Manager
Interim and Project Manager Employer Engineer Employer
Final Payment
Certifier
Interim After receiving interim after assurance of the a) after the Engineer receives the a) after the Employer receives the Statement
Payment payment certificate quality of the work as per Statement and supporting documents and supporting documents
Requirement the specification b)after the Employer receives the IPC b) after the Employer receives the Partially
substantiated with the test Agreed Final Statement
report as enunciated in the c) after the Employer receives the draft final
Employers’ requirement Statement that is deemed to be a Partially
and in the activity schedule Agreed Final Statement
Interim Within 30 days of the Within 30 days of the date a) within the period stated in the Contract a) within the period stated in the Contract Data
Payment date of each of each payment Data (if not stated, 56 days of (if not stated, 56 days) of respective
Deadline for certificate. certificate. respective requirement above requirement above
Employer to within the period stated in the Contract b) within the period stated in the Contract Data
pay the Data of respective requirement above (if not stated, 42 days) of respective
Contractor requirement above
c) within 84 days of respective requirement
above
Final Payment After receiving final after assurance of the After the employer receives FPC a) after the Employer receives the Final
Requirement payment certificate quality of the work as per Statement
the specification b) after the Employer issues the Notice stating
substantiated with the test the Final Payment
 report as enunciated in the
Employers’ requirement
and in the activity schedule
Final Payment within 30 days of the Within 30 days of the date Within the period stated in the Contract a) within the period stated in the Contract Data
Deadline for date of each of each payment Data (if not states, 56 days) (if not stated, 56 days) for respective
Employer to certificate. certificate. requirement above
pay the b) after the expiry of 14 days after the Employer
Contractor issues the Notice stating the Final Payment
Payment Delay If the Employer makes a late payment, the The Contractor shall be entitled to receive financing charges compounded monthly on the
by the Contractor shall be paid interest as indicated in the amount unpaid during the period of delay, deemed to commence on the expiry of the time for
Employer SCC on the late payment in the next payment. payment mentioned above.
Interest shall be calculated from the date by which Unless otherwise stated in the Contract Data, these financing charges shall be calculated at the
the payment should have been made up to the date annual rate of three percent (3%) above:
when the late payment is made. (a) the average bank short-term lending rate to prime borrowers prevailing for the currency of
The Contractor shall be payment at the place of payment, or
entitled to this payment (b) where no such rate exists at that place, the same rate in the country of the currency of
without formal notice, and payment, or
without prejudice to any (c) In the absence of such a rate at either place, the appropriate rate fixed by the law of the
other right or remedy. country of the currency of payment.
Deposit of the Not mentioned Not Mentioned The bank nominated by the Contractor, in the payment Country
Payment