Payment Applications & Valuation Processes
If the first stage at which a Quantity Surveyor could support with managing your project is the Procurement stage, the second is the Payment Applications and Valuation Processes stage.
Typically, a contractor may submit a Payment Application to your Quantity Surveyor each month. This application would outline exactly which works the contractor believes they are due to be paid for, and offers an opportunity for us to determine progress against the contract.
Why engage the support of a Quantity Surveyor?
A Quantity Surveyor would ensure that the contractor's price is broken down into clear segments which helps to make the valuation of works that have been completed very clear. This kind of itemised breakdown makes it easier for your Quantity Surveyor to apply percentages against each item to assess progress and therefore agree what fees are due.
For example, if a contractor has excavated approximately half of the foundations it is easy to assess the pricing schedule to determine the value of works at that point in time and what is due to be paid.
A Quantity Surveyor can then make the necessary calculations and request that the contractor raises an invoice against our devised estimates, as well as assess, negotiate and agree variations in costs on your behalf. This can remove any potentially challenging issues for homeowners in assessing what has / hasn’t been done, and means that you don't have to get into this level of detail with the contractor.
Payment Applications are something that your Quantity Surveyor can manage from the very start of your project until final account / completion.
