Browse Forums Building A New House Re: Progress Payment query... 21Jul 08, 2014 8:20 am I got an interesting one today ... invoice for "fixout". I'm not sure exactly what "fixout" means, but given that there's no kitchen or closets yet, I'm suspecting it's not complete. And yet the next stage includes tiling, which IS nearly complete (they had to do tiles in the kitchen before the kitchen itself, because of the drawers we chose). Methinks the HIA contract is too standard for our build. Re: Progress Payment query... 22Jul 08, 2014 8:34 am hold of paying it until each item in the contract under fixout definition is complete. Youre within your rights and you save paying interest. Just explain it to teh builder and hopefully they see your point not to make a fuss. If the ymake a fuss, ask them to detail the work complete between the last invboice and fix out so that you can compare tehir definition vs the contractual definition. Creator of superduperonium, expert at expert things, nobel laureate, can hold my breath for 10 minutes. Re: Progress Payment query... 23Jul 08, 2014 9:19 am justheart Once you start paying your invoices that's when you start paying the bank. Slowly after every payment the repayments go up!!!! And that's possibly a good idea to start making the repayments at the full amount if at all possible, rather than the minimum required. Obviously many of us will likely only pay the minimum required due to other expenses currently occurring at the time, i.e. rental payments, etc. Owner Building at Jimboomba Woods in Logan City Qld. Blog : http://bandlnewhomebuild.blogspot.com H1 thread : viewtopic.php?f=38&t=68283 . Re: Progress Payment query... 24Jul 08, 2014 11:39 am We just transfer all of our leftover $$ each fortnight after bills, rent and our allocated spending to the Offset account attached to the loan. The debits for the loan will come out of that account and we offset the interest. We keep all our savings and cash in there effectively. Thread: viewtopic.php?f=31&t=66299 Slab: 16/6/14 Frame: 4/7/14 Roof: 22/7/14 Lock Up: 20/8/14 Fixing: 26/8/14 PCI: 9/10/14 Handover: 20/10/14 Re: Progress Payment query... 25Jul 08, 2014 12:11 pm I have something semi-related to contribute. I received the Progress Claim for Roof Cover last week, however the roof is not yet complete. The ridge capping needs to be cemented down, I have a skylight that needs to be installed and there are a few broken and damaged tiles that need replacing. I emailed the accounts department of my builder and suggested I would not pay such an invoice until the roof was actually complete. I received this reply; In regards to the progress payment for your roof cover claims it is important for the flow of the job that they get authorized on time Progress payments are only payments towards the contract price and do not actually represent 100% completion of each stage Even if there are any queries with the workmanship of these stages payments are not to be held up. The final payment is the only one that you can hold until you are happy with the works done There could be reasons why works are not done or rectified at any specific stage as it may be better construction wise to be completed at a later date, especially with this wet weather As long as we can continue on with the next stages of construction the claims should not be held up. If payment is not received by the due dates, plastering may be delayed Please be assured that all contract works will be done before you hand over I didn't really know what to make of this. I figured I had no choice but to accept it. I found the lack of full stops in her email more concerning than the content. I still haven't drawndown on my loan yet. I'm waiting for the due date. The longer I stall, the better it is for me. There is no reason why building contract reconciliation cannot be done prior to handover, if the builder won't do it get someone to do it for you. Why would you pay for… 3 6680 2 7175 regardless, your contract stipulates a payments schedule and SOPA doesn't give provision to that scenario. Your contractual terms appear to stand. Hence get a lawyer, it… 4 11850 |