ARCHIVE: Interim valuations and payment, 1st edition, RICS guidance note (August 2015)
Published August 2015
Effective from 12 November 2015
Reissued April 2025
Most construction contracts require interim payments to be paid to the contractor. This is to relieve the contractor of the burden of financing the whole of the works until completion, which can take many months or years.
This practice information is effective from 12 November 2015.
This document covers:
• conditions of contract
• payment mechanisms
• retention
• valuation process and
• standard forms and covering letters.
This document was reissued in April 2025 as practice information. It had previously been published in August 2015 as a guidance note. No material changes have been made to the document.
- File type: PDF
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