Valuations

Gulf FIDIC The advance payment and its guarantee under FIDIC A FIDIC advance payment is an interest-free loan against a bank guarantee, recovered through deductions on the interim certificates. How it is paid, secured and clawed back. 5 min read Gulf FIDIC VAT at five per cent on UAE construction, and where it sits in a valuation Construction in the UAE carries VAT at five per cent. How it sits on top of the certified sum, when the tax point falls, and why net and gross must never blur on a certificate. 5 min read Gulf FIDIC Interim Payment Certificates under FIDIC in the UAE On a FIDIC contract in the UAE, payment runs on the Interim Payment Certificate. What the monthly Statement must contain, how the Engineer certifies under Clause 14, and where the margin is won. 6 min read Valuations VAT tax point on certificates and retention: when the tax falls due For construction the tax point is usually the earlier of invoice or payment. Retention is different: its tax point waits until the retention is received or invoiced. 6 min read Valuations Choosing a valuation cycle, and why moving it costs more than it saves Monthly valuations, stage payments and milestones compared. How the date interacts with your own workload, and what happens to the statutory dates when the cycle slips. 5 min read Ireland Interim payment claims under the Construction Contracts Act 2013 in Ireland How the interim payment claim works on an Irish job: the payment claim date, the thirty day rule and the numbers a payee must put in front of the payer. 6 min read Valuations Domestic reverse charge VAT on construction: who accounts for the tax Since 1 March 2021 the supplier of CIS construction services charges no VAT to a business customer who is not the end user. The customer accounts for it instead. 6 min read Valuations Assessing payment under NEC4: what changes from JCT Assessment dates instead of valuation dates, Price for Work Done to Date instead of measured work, and a payment mechanism that differs by main Option. What a JCT surveyor needs to unlearn. 7 min read Valuations JCT Minor Works is not a small SBC, and treating it like one costs money Minor Works is a shorter form for simpler jobs. It still holds retention, but it has no loss and expense clause, and the differences catch surveyors who assume the SBC machinery is there. 7 min read Australia Progress claims and payment claims under Australian Security of Payment law A progress claim on an AS 4000 job and a payment claim under a Security of Payment Act are the same document doing two jobs at once. Here is how to value one. 6 min read New Zealand Payment claims under the Construction Contracts Act 2002 in New Zealand A payment claim is the document that starts the clock under the New Zealand Construction Contracts Act 2002. Get the interim valuation and the claim right and the money follows. 6 min read Valuations Valuing preliminaries in an interim Preliminaries are not a percentage and they do not accrue evenly. Valuing them on the same curve as the works is the quickest way to over or under certify. 5 min read Valuations Spotting front-loading in a contractor application Front-loading moves money forward without changing the contract sum. How it appears in a bill, in an activity schedule and in an application, and what a client-side surveyor can properly do about it. 6 min read Valuations Fluctuations, and why they came back Fixed price contracts assume prices stay still. When they do not, the fluctuations provisions decide who carries the difference, and most say the contractor does. 5 min read Singapore Serving a payment claim under the SOP Act in Singapore The payment claim is the document that starts every payment cycle under the Building and Construction Industry Security of Payment Act. Get it right and the clock protects you. 6 min read Hong Kong Payment claims under the Security of Payment Ordinance in Hong Kong The payment claim is the document that starts the statutory clock under Cap. 652. Get the interim valuation into it correctly and the response and due date follow. 6 min read Valuations Remeasurement and approximate quantities Where quantities are approximate, the work is measured as executed and valued at the bill rates. The trap is the rate that stops being reasonable. 5 min read Valuations Off-site materials and the conditions that come with them Paying for materials before they reach site is possible under JCT, but only where they are listed and a set of conditions is met. Each one exists for a reason. 5 min read Malaysia Progress payment claims under CIPAA 2012 in Malaysia CIPAA 2012 gives every contractor a statutory right to monthly or staged payment. The payment claim is where that right is exercised, so it has to be built right. 6 min read Qatar FIDIC The Interim Payment Certificate on a FIDIC job in Qatar How the Contractor Statement becomes an IPC under Sub-Clause 14.6, what the Engineer certifies within 28 days, and why the valuation behind it decides the number. 6 min read Valuations Materials on site and off site: certifying without overpaying Unfixed materials are the most common source of interim overpayment. The conditions for certifying them, why off-site materials are treated differently, and what happens on insolvency. 6 min read Saudi FIDIC Interim Payment Certificates under FIDIC in Saudi Arabia On a Saudi FIDIC job the monthly Statement becomes an Interim Payment Certificate the Engineer issues within 28 days under Sub-Clause 14.6. Here is how to value one. 6 min read South Africa The interim payment certificate under JBCC in South Africa On a JBCC contract the principal agent issues an interim payment certificate, and that certificate, not the application, is what fixes the sum the employer must pay. 6 min read UK Running interim valuations in QScope under JCT and NEC4 How QScope assembles each interim valuation from the contract sum, variations, materials on site and retention, dated to the due date under the Construction Act. 6 min read Valuations From gross valuation to net payment: getting the ladder right Gross valuation, less retention, less previous payments, less deductions. The order the deductions come off in changes the answer, and the wrong order is surprisingly hard to spot. 6 min read Valuations What belongs in an interim valuation, and what does not Measured work, variations, materials, fluctuations, loss and expense. What is properly included at interim stage, what waits for the final account, and why the distinction protects you. 7 min read