Thepropertydevelopmentcourse.com

* This episode was archived June 2019 and is only available for subscribers Every construction project involves a contract between a client and a builder This contract can be concluded by performance, say where the builder finishes the house as agreed but in construction their might be a number of additional items of work order (called variations to the contract). In fact there are usually dozens of changes like say large tiles instead of small tiles and wooden flooring instead of tiles. If your construction contract is for say $500,000.00 and the total variations are $100,000.00 how do you conclude the contract In construction the final bill from the contractor to the client is called 'the final account' and usually emailed or posted to the client within a month of the construction being fully complete The client will then review, maybe query some costs and then there will be an an agreement of a final amount. This final account figure is then put into a simple one page document called a statement of final