PROGRESS PAYMENTS

Up to 8 progress payments will be paid according to the payment schedule below. These payments are to be certified by one of our panel Quantity Surveyors.

PAYMENT SCHEDULE

For a standard residential house project:

Land settlement & administration fee	Up to 100%
Pad down	Up to 15% of construction cost
Frame up	Up to 15% of construction cost
Roof on	Up to 10% of construction cost
Fully enclosed	Up to 20% of construction cost
Internally lined	Up to 10% of construction cost
Semi completion	Up to 15% of construction cost
Practical completion	Up to 10% of construction cost
Certificate of Occupancy/Completion	Up to 5% of construction cost

• Building approval is required prior to draw down of land funds
• A first mortgage is taken on the land as security