45.3  Final Payment Period

45.3.1  During the final two (2) Payment Periods of the Contract Period, in addition to the amounts referred to in Clause 45.2.1 the Authority may withhold an amount equal to the average per Payment Period of the sum of the adjustments and/or deductions in accordance with Schedule 4 (Payment Mechanism) for the previous six (6) Payment Periods until such time as the Contractor shall have provided a report to the Authority in respect of those final two (2) Payment Periods containing the information set out in Clause 45.2 (Report and Invoice).

45.3.2  On receipt of the reports from the Contractor in respect of the final two (2) Payment Periods the Authority may retain from the amounts withheld pursuant to Clause 45.3.1 a sum equivalent to the sum of the adjustments and/or deductions in accordance with Schedule 4 (Payment Mechanism) identified in the report or any other amount agreed by the Parties or determined pursuant to Schedule 22 (Dispute Resolution Procedure) as owing to the Authority.  The Authority shall pay the balance of any monies withheld to the Contractor or if it is agreed or determined the Contractor owes monies to the Authority in excess of those sums withheld, the Contractor shall pay such additional amounts to the Authority, in each case with interest on that amount at the Prescribed Rate calculated on a daily basis and compounded quarterly from the date on which the payment was withheld by the Authority pursuant to Clause 45.3 (Final Payment Period) or from the date on which over payment was made (in the case of excessive claims by the Contractor) until all relevant monies have been paid in full and whether before or after judgment.