Interim Payment Certificate (IPC) - Purchasing and Payables

An Interim Payment Certificate (IPC) is an official document in construction that certifies the amount of money a client must pay a contractor for work completed up to a specific date. It is typically issued by a project manager, architect, or quantity surveyor after the contractor submits an application for payment. IPCs ensure contractors receive regular payments, maintain cash flow, and provide a formal record of progress.

How it works

• Application: The contractor submits a payment application detailing the work completed and materials procured during a specific period. 
• Verification: The client's representative (e.g., a quantity surveyor) assesses the application, inspects the work on-site, and verifies the progress.