Two departments: increase the proportion of payment for construction project progress, improve the settlement of construction project price settlement

The Ministry of Finance, the Ministry of Housing and Urban -Rural Development issued a notice on June 30. From August 1st, the proportion of payment for construction project progress will be increased.

Specifically, in accordance with the requirements of the notice: government agencies, institutions, and state -owned enterprises construction projects shall not be less than 80%of the completion of the project price;Below, in addition to the quality margin that does not exceed 3%of the total project price in accordance with the contract, the paid payment ratio can be determined by the contracting parties according to the actual situation of the project.During the settlement process, if the progress of the progress has exceeded the actual project price, the contracting unit shall return the project progress funds to the more than the issue of the project within 30 days in accordance with the regulations.

The notice will be implemented from August 1 this year.

Source: CCTV News Client

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