CISR15020 | The Scheme: payments: definition

A payment is anything paid out by a contractor and includes cash, cheque or credit. An advance, ‘sub’ or a loan is a credit and therefore a payment. This applies whether or not the payment is made directly to the subcontractor (for information about payments made to someone other than the subcontractor, see the separate information panel on ‘Nominees’ inthis section).

The term ‘payment’ includes

• a payment on account

• a progress or stage payment

• a retention payment (for more information see the separate information panel in this section)

The Scheme only applies to payments actually made by the contractor. If a payment thatis due to the subcontractor is withheld, the Scheme does not apply to that payment.

Date of payment

(This content has been withheld because of exemptions in the Freedom of Information Act 2000)