Browse Forums Building A New House 1 Jun 08, 2017 2:34 pm Hi Guys, Just a quick question I am building a new house in Melbourne and it is nearing completion. My question is in regards to PCI and final drawdown. I am getting an independent inspection at the PCI. Do you get your bank to pay the final progress payment after PCI or after all faults that are found at PCI are fixed ? Thanks for your help Re: PCI and final draw down payment 2Jun 08, 2017 5:20 pm It depends on you. The final payment is immediately before handover. Ideally everything should be fixed . . . but if you want to move in quickly and there are some minor issues that may take some time you may want to have handover and get the matters fixed later. Be aware that somethings will probably me missing at PCI. A lot of builders don't install high price items like ovens, and cook tops until handover day. Until then too many people have acess to the house through the construction lock (see this link; http://anewhouse.com.au/2012/01/construction-locks/) The Harder You Try - the Luckier You Get ! Web site http://www.anewhouse.com.au Informative, Amusing, and Opinionated Blog - Over 600 posts on all aspects of building a new house. 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 11781 i would not be signing anything on the day read your contract about when builder submits final invoice generally, have to meet builder within 7 days of receiving final… 1 4683 |