Beruflich Dokumente
Kultur Dokumente
AND
ACCOUNT CLOSING
Completion of Works
Partial Occupation
Flowchart
Issuance of Certificate of Practical Completion
CPC
ACCOUNT CLOSING
Final Account
Final Account
Normally mentioned in all the standard form of
construction contracts in Malaysia
Final Account
PAM
Final Account
JKR 203A
Final Account
Final Account
Preparing the final account is the process of calculating and agreeing
any adjustments to the contract sum (the amount originally set out in
the contract to be paid to the contractor for completion of the works)
so that the amount of the final payment can be determined. The
amount of the final payment is then set out in the final certificate
(or final statement).
It is possible for the final certificate to show that money is owed to the
client, rather than due to the contractor.
Final Account
Final Account
The contract sum may need to be adjusted for a number of reasons,
including:
1. Variations.
2. Fluctuations.
3. Prime cost sums.
4. Provisional sums.
5. Payments to nominated sub-contractors or nominated suppliers.
6. Statutory fees.
7. Payments relating to the opening-up and testing of the works.
8. Loss and expense.
9. Liquidated and ascertained damages.
10. Contra claims imposed as a result of the contractor's operations (such as a third-party claim
resulting from contractor negligence or contractual breach, for example, flooding a neighbour's
property, third party works as instructed by S.O.).
11. The release of any remaining retention.
Final Account
Final Account
Agreeing the final account can be a complicated,
time consuming and adversarial process,
often resulting in disputes.
Final Account
Final Account
Final Account
Final Account
1. The Contractor shall submit full particulars complete with supporting
documents within but not more than three (3) months after issuing of
the Certificate of Practical Completion (CPC).
2. The Superintendent Officer (S.O) shall issue the Final Certificate within
three (3) months after the expiry of the Defect Liability Period for the
whole of the Works or three (3) months after the issuance of the
Certificate of Completion of Making Good Defect (CMGD).
In Majority of contract :
Issue of the final account can remain open for years after the
Certificate of Making Good Defect (CMGD)
Final Account
Conclusion
Conclusion
Clause 32.0 - JKR 203 (Effect of S.O. Certificates)
Conclusion
Sekian
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