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Anhong Energy Equipment (Yangzhou) Co.,ltd
25
2022
-
07
Notice on Improving the Settlement Methods for Construction Project Payments
Cai Jian [2022] No. 183
Relevant departments of the Central Committee of the Communist Party of China, ministries and commissions of the State Council, the General Office of the Standing Committee of the National People's Congress, the General Office of the National Committee of the Chinese People's Political Consultative Conference, the Supreme People's Court, the Supreme People's Procuratorate, various central democratic parties, relevant people's organizations, central state-owned enterprises, finance departments (bureaus) of provinces, autonomous regions, municipalities directly under the central government, and cities specifically designated in the state plan, finance bureau of the Xinjiang Production and Construction Corps, housing and urban-rural development bureau:
In order to further improve the settlement methods for construction project payments, maintain order in the construction market, reduce the burden on construction enterprises, and protect the rights and interests of migrant workers, according to the "Basic Construction Financial Rules" (Ministry of Finance Order No. 81), "Interim Measures for the Settlement of Construction Project Payments" (Cai Jian [2004] No. 369), and other relevant regulations, the following work notice is hereby issued:
1. Increase the payment ratio of construction project progress payments. The payment for progress of construction projects by government agencies, public institutions, and state-owned enterprises should not be less than 80% of the completed project payment; at the same time, provided that the total budget (preliminary) and the final settlement of the project are not exceeded, and the work proceeds smoothly, the payment ratio can be determined by both parties based on the actual situation of the project, except for retaining a quality guarantee deposit not exceeding 3% of the total project payment as stipulated in the contract. In the settlement process, if the progress payment exceeds the actual completed project payment, the contractor shall return the excess progress payment to the employer within 30 days after the settlement as required.
2. New projects that start construction in the current year and cannot be completed in the same year can implement process settlement. Both parties to the contract shall agree to divide the construction process into construction cycles based on time or progress nodes, and calculate, confirm, and pay the payment for the completed and undisputed quantities of work (including changes, visas, claims, etc.) within the cycle, with the payment amount not exceeding the approved budget corresponding to the completed part. The process settlement documents confirmed by both parties shall be part of the completion settlement documents, and shall not be re-examined after completion.
3. This notice shall take effect from August 1, 2022. Contracts signed from this date shall be executed in accordance with this notice. Other relevant matters shall continue to be implemented according to the "Interim Measures for the Settlement of Construction Project Payments" (Cai Jian [2004] No. 369).
Ministry of Finance Ministry of Housing and Urban-Rural Development
June 14, 2022
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