Surveyors' construction handbook: valuations for interim certificates (ARCHIVED)

Surveyors' Construction Handbook is out of print and is available on isurv for information purposes only.

Any questions relating to its status and application should be addressed to the RICS QS and construction professional group.

Many construction projects require interim payments to be paid to a contractor. This is in order to relieve the contractor of the burden of financing the whole of the works until completion; works which may take many months or years to complete. Within each contract there will be clauses which set out the criteria under which interim payments will be made, the timing of these payments and the administrative rules under which quantity surveyors, architects, employers and contractors must operate. In many contracts, whilst the completion and calculation of the value is important, the method and procedure of the interim payment which the contractor receives is equally as important.