This guidance note summarises what a final account is and how they are used to establish a final adjustment to the contract price. It is effective from 14 March 2016.
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.
Included in this guidance note:
- Contractual definitions of final account
- Preparing for final account
- Agreeing the final account
- An example statement of final account
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