14.6 If the estimated price of the extra work exceeds 5% of the contract price , the owner may end this contract by giving the builder a written notice to that effect within 5 working days of receiving the estimated cost from the builder under sub-clause 14.2 and sub-clause 14.7 applies. 14.7 If the owner so ends this contract , the owner must pay to the builder the price of the works carried out to the date that this contract is ended. The price includes the builder's margin applied to the costs incurred by the builder which costs include the cost of materials on site or already ordered from suppliers that are non-refundable. 15.1 If, after this contract is signed, a statutory or other authority introduces or increases: (a) any tax, charge, levy or other regulation; or (b) any requirement that affects the building works , that causes any cost increase in the cost of the building works there is a contract price adjustment . 15.2 If the builder is required to do more or less work to comply with a requirement of a statutory or other authority the builder must ask for a variation for the change required and Clause 18 applies.
The owner may end this contract.
Clause 15. Other Costs The contract price may change due to an increased cost.
For contract price adjustments refer to Clause 16. For variations refer to Clause 18.
Clause 16. Contract Price Adjustments
16.1 A contract price adjustment is due and payable at the next progress payment after it arises unless a different time is agreed. 16.2 When there is a deletion to the building works or substitution of materials resulting in a contract price adjustment , the contract price will be adjusted at the progress payment of the stage where the building works would have been carried out, unless a different time is agreed in writing.
Clause 17. Progress Payments
17.1 The owner must pay the deposit stated in Item 2(b) of Schedule 1 on the later of the day that: (a) this contract is signed by the owner ; and (b) warranty insurance described in Schedule 6 is in force and the owner is provided with a certificate of insurance for such insurance. The deposit is brought to account with the first progress payment. 17.2 The owner must pay the contract price progressively as claimed by the builder . 17.3 The builder must give the owner a written claim for a progress payment for the completion of each stage . 17.4 A progress claim is to state: (a) the amount claimed and not paid for the stage completed; (b) the amount claimed and not paid for contract price adjustments ; (c) the amount claimed and not paid for variations ; and (d) the sum of the above amounts. 17.5 The owner must pay a progress claim within 5 working days of the builder giving the claim.
Payment does not mean that the owner accepts the work is done in accordance with the contract. The owner cannot hold any money back on a progress claim.
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