Where the payer gives no payment notice and no pay less notice in time, the sum applied for becomes payable in full — however optimistic the application was. Five figures of yours, and the arithmetic below is all yours too. There is no industry average anywhere on this page.
Each one has a due date, a payment notice date and a pay less notice date, and each of those dates is a separate opportunity for the Act to decide who is right.
8 contracts × 1 a month × 12 months
What passes through a single one of those windows.
£40,000,000.00 ÷ 96 windows
Where the payer gives no valid payment notice and no valid pay less notice in time, the sum applied for becomes the notified sum and is payable in full. The amount at stake is the gap between what was applied for and what would have been certified — on one application, once.
£416,666.67 × 8% applied-to-certified gap
The total sum in dispute between application and certification over twelve months. Not a loss — it is the money the notice regime governs, and which side of it you end up on is decided by dates.
£40,000,000.00 × 8%
Held by somebody else, released against dates and certificates that have to be evidenced when the time comes. A release nobody can substantiate is a release nobody makes.
£40,000,000.00 × 5%