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VALUATIONS AND FINAL ACCOUNTS FOR CONTRACTORS
We can offer monthly valuations of workflow to achieve stage payments to the contractor and prepare final account and other documentation on behalf of the contractor.
On the request of the Valuation service from main contractors and sub-contractors we provide: • Evaluating and agreement of variations of the contract (under terms of the contract); • Re-measurement the work on-site upon completion of the project; • Preparation monthly provisional valuations and negotiations on payments. Preparing Valuations When the contractor requesting us to carry out monthly valuations for their workflow ES QS Quantity Surveyors will do physical measurement of delivered materials and the work on-site. We provide with as accurate as possible interim certificates and the contractor can claim the full value of the completed work minus specified retention amount. We evaluate the cost of any variations and extras which will be added to the interim bills. We also include suppliers and subcontractors account in interim valuations when their jobs have been involved. Each variation rated separately and the net sum of all of them will be added to the general summary of the project. The interim certificate may include: • preliminaries, • measurements, • variations, • measurement of provisional elements and quantities, • valuation of proposed suppliers and subcontractors, • extra used materials on-site and off-site, if agreed on the contract. Even though the architect and quantity surveyor can produce valuation and interim certificate, in general, they are preparing interim valuations together. Therefore, they can reach the agreement before certification. Preparing agreement and submission on Final Account We prepare detailed and accurate Final Account on behalf of subcontractors and main contractors. Then we submit and agree it with an employer. This service may include (depends on the request from our client): • Assessment of day to day workflow, variations, provisional quantities and costs; • Claims of expenses and fluctuations; • Obtaining in writing confirmation of employer's agreement to the final sum; • Ensure that the architect sends the final certificate on time (main contractors); • Control of accurate and on-time final payment for completed on-site work by the contractor (the above elements should be included). |
Valuations and Final Accounts for Contractors |