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 costs are exclusive of travelling costs which are charged at 45p/mile.
Scope of Service
Our Interim Valuations service includes:
- Receipt and review of Contractor's Application for Payment
- Site visit (or optional assessment from photographs)
- Record of queries raised with the Contractor and answers received
- Recommendation for payment
- Notes of any issues of concern.