Final account payments: welcome guidance from the TCC – Practical Law: Construction Blog

Posted December 21st, 2017 in construction industry, contracting out, contracts, news, remuneration by tracey

‘Nearly 20 years after the Construction Act 1996 was introduced to stamp out bad payment practices, you would be forgiven for thinking there must be a voluminous pile of case law in relation to the all-important final account. But you would be disappointed. While there is plenty of guidance from the TCC on interim payments, the courts have not had much to say about final accounts, particularly post 2011. This is why Systems Pipework Ltd v Rotary Building Services Ltd is so welcome. Coulson J draws together the authorities on interim and final account payments and concludes (in a characteristically clear and to the point judgment) that the same rules apply to both.’

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Practical Law: Construction Blog, 20th December 2017