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Architecture engineering, Construction engineering
The effective administration of the payment clause of a building contract is one of the most important tasks that the contract administrator and consultant quantity surveyor perform during the contract period. This study examines the principles and procedures for calculating interim payments in accordance with the terms of the Royal Institute of the Architects of Ireland (RIAI) ‘Yellow’ and ‘Blue’ Forms of Contract (2017) and the Public Works Contract Form - PW-CF1 (version 2.2 09/01/2017). These contract forms have recently been amended to take account of the Construction Contracts Act. The valuation principles and procedures are summarised and are applied to a number scenarios which have been examined at undergraduate level and in professional examinations.
The study is intended as a resource for Irish students undertaking undergraduate and conversion masters courses in quantity surveying and construction management related disciplines.
Cunningham, T. (2018) Preparing Interim Payment Valuations for Construction Works - Worked Examples and Solutions. DIT, 2018.