Interim Valuations For Private Client

• Valuation and checking of COntractors Interim Progress Applications For payment 
• Payment Recommendation 
• Identification and Pricing of COntract Variations and  
• General Procedure 
• Prior to issuing interim certificate , a QS must prepare interim valuation . 
• Main items to be considered
• i) Measured work , including preliminaries 
• ii) Value of variations and extras 
• iii) Value of nominated sub-con and suppliers work 
• iv) Fluctations 
• v) Unfixed materials on site 
• vi) Retention monies 
• Vii ) Previous payments 

• Valuation - as accurtate as possible 
• Contractor is entitled to toal value of work properly executed less a specified % of retention . 
• Improperly retained sum could strain contractor - pa his debts 
• Emplpyer must be protected agains over payment , if insolvencies of contractor occuyrs ,e xtra payment cannot be recovered . Liable to extra cost of selecting another contractor .  
• Amount of measurement to be depends on nature and complexity of wortks and the stage they have reached . 
• Common practice = contreactor and QS meet regularl for the purpose of measuring works .