Payment Plan
The client will be required to make partial payments on completion milestones,
which mark the progress of the property’s completion. At each milestone, the
client will receive an invoice, that is supported by a quantity surveyors’ report
and photographs that will establish the progress of the building.
The payment milestones and the amounts are shown in Table 1.
| Milestone |
% Completed |
% Payable |
Amount Payable TT$ |
| Breaking of Ground |
10% |
10% |
170,000 |
| Laying of Foundation |
20% |
20% |
340,000 |
| 1st Floor Completion |
35% |
20% |
340,000 |
| 2nd Floor Completion |
75% |
20% |
340,000 |
| Roof Completion |
90% |
20% |
340,000 |
| Hand Over of Keys |
100% |
10% |
170,000 |
| TOTALS |
- - - |
100% |
1,700,000 |