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 is also 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.
Final Account Procedures, 1st edition (PDF 1.40MB)
Published date: 14 December 2015