Agreement Of Final Account

The correction of the contract amount in the final tally is generally covered by several relevant elements, although the volume indicator must take into account all the elements listed in the standard form of the contract and the terms of the contract If the contract is a measurable contract, the final tally should be for volume changes. Approximate quantities should be avoided where possible, as they give the employer greater uncertainty. Once the right to an extension of time is agreed and informed, the costs of loss and expense can sometimes be part of the final negotiations. Notwithstanding the standard contractual operating mechanisms mentioned above, “counter-charges” generally apply. If you are a contractor or a management client, there may be cases where you have paid for something that will later prove to be the responsibility of the supply chain. For example, a third party damaged the work ahours of hours, but because you were better able to react, you mobilized a team and repaired the damage. However, as this is not your risk or liability under the terms of the contract, these fees must be deducted from the supplier`s account. Often, the lengthening of time and related losses and expenses were agreed earlier in the contract and the final account extract will simply formalize this process. It is also not uncommon for the right to an extension of time and the resulting losses and expenses to be delayed until the end of the contract. However, if the final tally is not agreed and a disagreement persists, the employer has the right to release the deduction only until the amount it deems payable under the contract.

If the final account is agreed, it is not uncommon for another payment certificate to be issued. Both the employer (or employer`s representative) and the contractor sign the final account extract to ensure that the final figure is the complete and final tally of all claims, etc. The final account count triggers a final statement of account and allows the contract administrator to issue the final certificate. Note that the exercise bill may not contain deductions for liquidated damages. The employer can deduct it from the final payment certificate. All relevant items must be listed separately in the final tally and the net amount of each change and amounts due to each designated subcontractor and each designated supplier is indicated. When establishing the final count, the employer`s volume indicator should allow the contractor`s volume indicator to be present when collecting or recording the measurements and details, so that the document is drawn up in full liaison with the contractor in order to avoid any possibility of litigation. However, certain steps are required to issue a valid final account. If it is not valid, it cannot be conclusive. There are two important areas: if the contract manager has granted additional time for a relevant issue that entitles the contractor to losses and costs, those losses and expenses should be accounted for earlier in the final tally, when formally mandated by the employer. In terms of preparation, the Occupational Volume Indicator (SSP) should ensure that all contract mandates have been taken into account and that all other potential cost-related positions are eliminated.