Which of the following is NOT a minimum element of a construction contract?

In the context of construction contracts, a payment distribution schedule is not considered a minimum required element. Contracts typically need to outline crucial financial aspects, such as the total amount to be paid to the contractor, which provides clarity on the project's overall cost. The amount of progress payment is also essential, as it establishes how and when the contractor will receive payments as work progresses. Similarly, the amount of advanced deposit is critical, especially in construction projects where upfront costs are involved.

While a payment distribution schedule can be beneficial for both parties to understand the timing and amount of payments throughout a project, it is not a mandatory element for the validity of a construction contract. The fundamental requirements focus more on the financial terms that ensure all parties are aware of their obligations and the total financial arrangements, rather than the specific timing of those payments.