We prepare the conclusion on the contract sum including all required alterations on behalf of specialists (i.e. architects) for contractors and private clients.
Final account provides an overview of the project with efficiency and financial situation to the owner and the manager of the project. To provide an accurate and efficient Final Account we take into consideration all instructions of contract and assign other implied cost-related elements of the project.
The work we provide within this service includes, but not be limited to:
• Daily work journal is prepared;
• All modifications are provided in accordance with the all evaluated details of the project for further use in other services (i.e. variations);
• Assessed reimbursement expense or loss claims provided;
• A clear statement indicating the amount of the contract, including all modifications to that amount;
• An appropriate type of contract for the project (JCT, ACA, ICE, FIDIC, NEC or GC);
• Contractor's agreement to the final account is confirmed in writing.
Final Account is the agreement of negotiations between the employer and the contractor. The amount of Final Account is paid by the employer at the end of the construction contract.
ES QS Quantity Surveyors make sure that there is complete settlement of negotiations between the employer and the contractor before issuing Final Account. After that, the project architect will be able to provide a Final Certificate.
Normally standard construction contracts don't include any express procurement for managing contra charges, therefore we propose a variation to the contract if employer and contractor agree. If the contractor doesn't accept this then any contra-charges will have to undergo the ‘pay less notice’ procedure.
The contractor normally employs quantity surveyor or does the Final Account himself. They also have to ensure of any variations from chosen and stated to their employer suppliers and subcontractors.
The contractor needs to provide ES QS Quantity Surveyors or the architect with all required documentation for the Final Account not later than 6 months after actual completion (under terms and conditions of the contract). After receiving all the documents ES QS Quantity Surveyors provide the Final Account to the contractor.