Post Contract And Construction Phase Quantity Surveying
Post contract quantity surveying comprises the periodic valuation of completed work for the purposes of interim payments from the Client to the Builder and the final valuation of the work once it is completed for final settlement. It includes ongoing cost and contractual advice to help with further Client Requirement decisions and variations, and the fair valuation of unforeseen additional work (often encountered when working with existing buildings and below ground). It also includes final cost forecasting and reporting.
Builders are increasingly wanting large deposits to cover their negative cashflow in the early stages of a contract and before an equivalent amount of work has been completed on site. This is often because their suppliers are asking them for large deposits at the time of placing orders. This leaves the Client at some considerable risk of default by the builder and/or supplier. However, it can be substantially mitigated by a Vesting Certificate provided by the supplier in favour of the Client. Please call Steve Leech for further explanation of the benefits of this method of financial risk mitigation.
