Final account procedures, 1st edition (effective from 14 March 2016)

Published December 2015
Effective from 14 March 2016

This guidance note summarises what a final account is and how they are used to establish a final adjustment to the contract price.

The practical issues of how to prepare a final account in accordance with the contract and the process of cooperation between the parties and negotiation will also be discussed.

This guidance note covers:
- contractual definitions of final account;
- preparing for final account;
- agreeing the final account; and
- an example statement of final account.

This is part of the RICS QS and Construction Standards.

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