Payment Quiz

In construction projects, what is the purpose of an interim payment?

• To finalize all payments at the completion of the project

• To make partial payments to contractors as work progresses

• To provide a bonus for completing the project ahead of schedule

• To cover only the initial expenses of the project

When are interim payments typically issued in construction projects?

• Only upon project completion

• At the beginning of the project

• At predetermined milestones or stages of completion

• Only when contractors request them

Based on PAM 2018, which party approves interim payments in construction projects?

• Quantity Surveyor

• Architect

• Project Manager

• Superintending Officer

The Performance Guarantee Sum is one of the items which will be ............... in the Interim Certificate

• Added

• Deducted

Based on PWD 203A 2010, once the contractor had submitted their claims, the S.O. must issue the Interim Certificate within how many days?

• 7 days

• 14 days

• 21 days

• 30 days

Based on PAM2018, once the contractor had submitted their claims, the Architect must issue the Interim Certificate within how many days?

• 7 days

• 14 days

• 21 days

• 30 days

Based on PAM 2018, once the Interim Certificate has been issued, the payment needs to be made to the contractor within ...... days

• 7 days

• 14 days

• 21 days

• 30 days

Based on PWD 203A 2010, once the Interim Certificate has been issued, the payment needs to be made to the contractor within ...... days

• 7 days

• 14 days

• 21 days

• 30 days

In construction projects, what is the purpose of a final payment?

• To make partial payments to contractors as work progresses

• To cover only the initial expenses of the project

• To provide a bonus for completing the project ahead of schedule

• To finalize all payments at the completion of the project

Based on PAM 2018, what is the consequence if the payment is not made to the contractor within the specified days after the Interim Certificate is issued?

• The contractor is required to stop work immediately

• The contractor is entitled to charge interest on the overdue payment

• The project is automatically terminated

• The contractor loses all rights to payment