(1) After the public body accepts the work completed in accordance with the purchase agreement, the final payment shall be made to the supplier, builder, service provider or consultant in accordance with the terms of the contract.
(2) When making the final payment according to sub-rule (1), in the case of construction work, fifty percent of the amount of retention money deducted as per sub-rule (4) of the performance guarantee and rule 123 should be returned after the period for correcting errors has expired. The remaining fifty percent of the retention money should be paid after the relevant supplier, builder or service provider submits the proof of submission of tax returns to the relevant Internal Revenue Office. However, if the concerned builder does not correct the error within the error correction period, the public body can correct the error by using the retention money or bail amount.
(2A) Notwithstanding anything else written in this rule, in the case of joint ventures, the payment of retention money shall be made after submission of tax return documents to the Internal Revenue Office.
(3) In the purchase contract, it may be mentioned that the builder, supplier, service provider or consultant shall not claim any other claims with the public body for final payment as per sub-rule (1):-
(a) Special Claims,
(b) the liability of the contractor, supplier, service provider or consultant to a third party arising or arising out of the performance of the procurement, and
(c) Inquiries related to liabilities incurred by builders, suppliers, service providers or consultants in relation to third parties during execution of the purchase agreement but not claimed with the public body and not informed at the time.