Interim Valuation

When to use it: Interim valuations (or progress payments) are required on most construction projects. They provide an important source of funds for Contractors but must be balanced so that the Employer is not put at a disadvantage by over-paying in the event of the contractor's bankruptcy. 
Mensura will review the contract documents, review the Contractor's Application for Payment and make a recommendation for payment to the Contract Administrator based on that documentation. Alternatively a recommendation can be prepared based on site progress photographs without the necessity for a site visit but this will not be as accurate as when a site visit is carried out. 

Our charges are exclusive of travelling costs which are charged at 45p/mile. 

Discounts are available when purchasing three or more interim valuations at the same time. Please contact us for a discount code which will be added to your account.

Scope of Service

Our Interim Valuations service includes:

  1. Receipt and review of Contractor's Application for Payment
  2. Site visit (or optional assessment from photographs)
  3. Record of queries raised with the Contractor and answers received
  4. Recommendation for payment
  5. Notes of any issues of concern.

We will require certain information to be provided by you before we are able to start work.  We will set this out in our Confirmation Email to you.  We normally aim to to complete an interim valuation within 5 days of receipt of the last piece of information required.  We will have due regard to contractual dates for payment and/or the provisions of the Construction Act.  Recommendations are delivered electronically.  Prices stated are per Interim Valuation.