Payments shall be made in currency as specified in the SCC. The SCC shall lay down the administrative or technical conditions governing advance payments, interim and/or final payments made in accordance with the GCC.
Payments due by the Public Body shall be made to the bank account mentioned on the Bidder Certification of Compliance form completed by the Contractor.
Payments to the Contractor of the amounts due under each of the interim payment certificates and the final statement of account issued by the Engineer shall be made by the Public Body within 90 days of such certificate of statement being delivered to the Public Body. The date of payment shall be the date on which the paying institution's account is debited. The payment certificate shall not be admissible if one or more essential requirements are not met.
Interim payment certificates or final statement of account must be accompanied with copies of invoices and other appropriate supporting materials of the amounts payable.
The Contractor's invoice shall be correctly rendered if:
(yyyyyyyy)The invoice is addressed to the Public Body's officer specified in the Contract to receive invoices and identifies the number of relevant Contract;
(zzzzzzzz)The invoice includes date of issuance and its serial number;
(ddddddddd)The invoice includes the name, title, and phone number of person to notify in the event of defective invoice;
(eeeeeeeee)The invoice includes Contractor's bank account information, and
(fffffffff)The invoice is, where appropriate, certified as sales tax exempt.
Failure to provide such information will entitle the Public Body's to delay payment until such information is provided.
The period referred to in GCC Clause 59.3 may be suspended by notifying the Contractor that the payment certificate or the final statement of accounts cannot be fulfilled because the sum is not due, because appropriate substantiating documents have not been provided or because there is evidence that the expenditure might not be eligible. In the latter case, an inspection may be carried out on the spot for the purpose of further checks. The Contractor shall provide clarifications, modifications or further information within 30 days of being asked to do so. Within 30 days of receipt of the clarification, the Engineer shall decide and issue if need be a revised payment certificate or a final statement of account and the payment period shall continue to run from this date.
The Contractor undertakes to repay any amounts paid in excess of the final amount due to the Public Body before the deadline indicated in the debit note which is 45 days from the issuing of that note.
Should the Contractor fail to make repayment within the deadline set by the Public Body, the Public Body may (unless the Contractor is a government-owned enterprise) increase the amounts due by adding interest at the rediscount rate applied by the National bank of Ethiopia on the first day of the month in which the time-limit expired, plus three and a half percentage points. The default interest shall be incurred over the time which elapses between the date of the payment deadline set by the Public Body and the date on which payment is actually made. Any partial payments shall first cover the interest thus established.
Amounts to be repaid to the Public Body may be offset against amounts of any kind due to the Contractor. This shall not affect the parties' right to agree on payment in installments. Bank charges involved in the repayment of amounts due to the Public Body shall be borne entirely by the Contractor.
