Important Dates under the JCT Standard Building Contract With Quantities (SBCQ) 2016

When is the Final Date for Payment?

The final date for payment under the JCT SBCQ 2016 contract is 14 days from its due date (Clause 4.11.1)​

When is the Due Date for Payment?

The due date for an interim payment under the JCT SBCQ 2016 contract is 7 days after the relevant Interim Valuation Date (Clause 4.8.1)​

When is the Interim Valuation Date?

The Interim Valuation Date is specified in the Contract Particulars. If no date is stated, the first Interim Valuation Date is one month after the Date of Possession, and thereafter it is the same date in each month or the nearest Business Day in that month (Clause 4.8.1)​

If you need help drawing up a copy of the JCT Standard Building Contract With Quantities (SBCQ) 2016 for your project, contact Hamshaw today.

These articles are provided for general information only. They are intended to assist with a basic understanding of common topics, which a client can read before consulting a solicitor about the specifics of their case. They are not a substitute for, and should not be relied upon as, legal advice. The law changes regularly, and the information contained in these articles is not updated to account for any changes.