Ascertaining loss and expense
Published July 2024
Effective from publication
Originally published as a guidance note in 2015, this document has been rewritten as practice information to account for changes in legislation, case law and construction contracts introduced since 2015.
The ascertainment of loss and expense is a set of tasks that endeavour to calculate as precisely as possible, and in accordance with the contract, the additional costs or losses incurred by one party directly due to a default of the other.
This practice information covers:
- what is loss and expense
- standard forms of contracts
- global claims
- methods of analysis of loss and expense and
- strengths and weaknesses of the various methods.