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This video tutorial emphasizes the importance of applications for payment in the construction industry, highlighting the necessity for contractors and subcontractors to submit them in order to be paid fairly and promptly. It explains that the law in the UK requires interim payments for contracts lasting more than 45 days, typically on a monthly basis. The process of submitting applications is typically the responsibility of the contractor or subcontractor, and the video provides an overview of how this process can be managed effectively in any organization. Be sure to subscribe for more content notifications.