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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