Contract Administration II

Project cash flow forecasting. Standard form of contract (JCT, ICE, GC/Work/I, FMW), and their application in the following areas: Preparation of interim valuation (interim certificate) – work executed, materials on site, retention, preliminaries, nominated suppliers/ subcontractors work. Fluctuation – firm price, full and limited fluctuation contracts. Schedule of basic rates and schedule of allocation. Calculation of fluctuations using traditional formula methods. Delays and disturbance of progress – extension of time/liquidated and ascertain damages. Loss and /or expense claims- presentation and valuation. Prime costs and provisional sums-nominated subcontractor and supplier- procedure, valuation and adjustment in final accounts. Financial statements Determination employer/contractor determination clauses, procedure and actions post determination. Practical (sectional completion) and defects liability periods. Administration of retention money. Final account- preparation and presentation.