On 21/05/2013,
you requested for the version in force on 21/05/2013
incorporating all amendments published on or before 21/05/2013.
The closest version currently available is that of 31/01/2006.
8.
—(1) Where a construction contract provides for the date on which a progress payment becomes due and payable, the progress payment becomes due and payable on the earlier of the following dates:
(a)
the date as specified in or determined in accordance with the terms of the contract; or
(b)
the date immediately upon the expiry of 35 days after —
(i)
if the claimant is a taxable person under the Goods and Services Tax Act (Cap. 117A) who has submitted to the respondent a tax invoice for the progress payment, the date the tax invoice is submitted to the respondent; or
(ii)
in any other case, the date on which or the period within which the payment response is required to be provided under section 11(1) (whether or not a payment response is provided).
(2) Where a construction contract does not provide for the date on which a progress payment becomes due and payable, the progress payment becomes due and payable immediately upon the expiry of 14 days after —
(a)
if the claimant is a taxable person under the Goods and Services Tax Act (Cap. 117A) who has submitted to the respondent a tax invoice for the progress payment, the date the tax invoice is submitted to the respondent; or
(b)
in any other case, the date on which or the period within which the payment response is required to be provided under section 11(1) (whether or not a payment response is provided).
(3) Where a supply contract provides for the date on which a progress payment becomes due and payable, the progress payment becomes due and payable on the earlier of the following dates:
(a)
the date as specified in or determined in accordance with the terms of the contract; or
(b)
the date immediately upon the expiry of 60 days after the relevant payment claim is served under section 10.
(4) Where a supply contract does not provide for the date on which a progress payment becomes due and payable, the progress payment becomes due and payable immediately upon the expiry of 30 days after the relevant payment claim is served under section 10.
(5) The interest payable on the unpaid amount of a progress payment that has become due and payable —
(a)
shall be at the rate specified in or determined in accordance with the terms of the contract; or
(b)
where the contract does not contain such provision, shall be at the rate prescribed in respect of judgment debts under the Supreme Court of Judicature Act (Cap. 322).
(6) For the purpose of subsections (1) and (2) and subject to the Goods and Services Tax Act (Cap. 117A), the claimant may submit the tax invoice referred to in subsection (1)(b)(i) or (2)(a) at any time after the payment response referred to in subsection (1)(b)(ii) or (2)(b), respectively, is provided, notwithstanding anything to the contrary in the contract.