Financial Statements
Prepare financial statements at monthly/quarterly/regular* intervals. The statements shall show all committed and known intended expenses and their comparison with the original budget allowances. Each Statement shall show the financial implication of the latest awarded contracts, issued drawings, architect’s instructions and claims etc. and reflect the estimated final account figure for the Works.
Monthly Interim Payment Valuations
Prepare monthly interim payment valuations in accordance with the progress of work completed as approved by the Architect.
Incorporate financial implications due to design changes etc. as appropriate in the payment valuations.
Design Change Pre-approvals
When a proposal is made to vary the design, a quick estimate of the cost involved and assessment of any contractual implications shall be made and reported to the Employer to assist him in deciding whether to implement the design change or not.
Assessment of Variations
During the course of construction, carry out regular assessments of architect's instructions, remeasurement of provisional quantities and adjustment of Prime Cost Rates etc. in a timely manner and hold negotiations with the Contractors to achieve preliminary agreements regarding the financial effect of the same.
The assessed variations shall be discussed and agreed with the Contractors and listed for the Employer’s information.
Carry out preliminary assessment of all claims received and incorporate them in the financial statements.
Contract Administration
Assist the Architect in his administration of the Contract and advise on the Employer's rights and obligations under the contract, including that in respect of the construction progress, quality, cost and other subjects.
If significant changes are planned and approved by the Employer, assist the Employer to agree the time and financial implication with the Contractor and prepareSupplementary Agreements to such effect to avoid unnecessary disputes at a later stage.
Assist the Employer to handle claims submitted by Contractors. Analysis the claims and prepare counter-claims complete with arguments and calculations, where appropriate. Analysis the contractual reasons, method of calculation for the claims submitted and assist in the negotiations between the Employer and the Contractor to arrive at an amicable agreement.