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We calculate the final cost of your project based on the original contract sum, as adjusted by any authorised changes (see interim valuations), agree this with the contractor and then provide you with a detailed analysis of the final account. Similar to interim valuations that include measurement and valuation of completed and varied work; they will also take into account loss and expense claims submitted by the contractor, for example loss caused by delay or the issue of late instructions that delayed completion.
Final accounts are often a long and painful process. Here at DGA, we employ a method known as a ‘rolling final account’. This takes the form of agreeing the measures, rates and variations at each monthly meeting with the contractor or clients representative. This ensures that issues are dealt with straightaway, whilst peoples memories are fresh, and that issues do not fester and lead to bad relationships as the job progresses.
Rather, the relationship is enhanced and trust is built up, leading to a collaborative approach and a better result for all concerned.
It may be the case that you are involved in a protracted final account . Let us have the details and our team will assist you, contact Elliot on 01565 831999 for details.