Ascertaining loss and expense (ARCHIVED)
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 guidance note 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.
This guidance note is part of the RICS QS and Construction Standards.
Please note: This guidance note is under revision and has been withdrawn. This document will be reinstated with a new edition as soon as possible. In the meantime, this guidance note is kept on isurv for information purposes only.