1.1.3.8 “Performance Certificate” means the certificate issued under
Sub-Clause 11.9 [Performance Certificate].
1.1.3.9 “day” means a calendar day and “year” means 365 days.
1.1.4 Money and Payments
1.1.4.1 “Contract Price” means the agreed amount stated in the
Contract Agreement for the design, execution and completion
of the Works and the remedying of any defects, and includes
adjustment (if any) in accordance with the contract.
1.1.4.2 “Cost” means all expenditure reasonably incurred (or to be
incurred) by the Contractor, whether on or off the Site,
including overhead and similar charges, but does not include
profit.
1.1.4.3 “Final Statement” means the statement defined in
Sub-Clause 14.11[Application for Final Payment].
1.1.4.4 “Foreign Currency” means a currency in which part (or all) of
the Contract Price is payable, but not the Local Currency.
1.1.4.5 “Local Currency” means the currency of the Country.
1.1.4.6 “Provisional Sum” means a sum (if any) which is specified in
the Contract as a provisional sum, for the execution of any part
of the Works or for the supply of Plant, Material or services
under Sub-Clause 13.5 [Provisional Sums].
1.1.4.7 “Retention Money” means the accumulated retention moneys
which the Employer retains under Sub-Clause 14.3
[Application for Interim Payments] and pays under Sub-Clause
14.9 [Payment of Retention Money].
1.1.4.8 “Statement” means a statement submitted by the Contractor
as part of an application for payment under Clause 14
[Contract Price and Payment].
1.1.5 Works and Goods
1.1.5.1 “Contractor’s Equipment” means all apparatus, machinery,
vehicles and other things required for the execution and
completion of the Works and remedying of any defects.
However, Contractor’s Equipment excludes Temporary Works,
