Singapore legislation
Regulation 7
Regulation 7
Amounts in dispute
Subregulation 1
A Vendor who disputes the Purchaser’s notice of deduction, in full or in part, shall notify the Academy, stating the amount in dispute and the amount not in dispute, on such form as may be determined by the Academy and such notice shall be served at least one working day before the due date of payment.
Subregulation 2
The amount in dispute shall be held by the Academy beyond the stakeholding period; and the period during which the amount in dispute is held shall be treated as an extension of the stakeholding period.
Subregulation 3
The amount in dispute shall be released to the parties on the receipt by the Academy of the —
final notice to pay as agreed to by the parties on such form as may be determined by the Academy; or
court order on the final apportionment or division of the disputed amount,whichever is the earlier.
Subregulation 4
Final payment to the parties of disputed amounts shall be made by the Academy within 7 working days of the receipt of the notice or court order referred to in paragraph (3).