Post Contract
Cost Monitoring & Control
BCL provide comprehensive cost management and control of costs, which are essential if you are to make informed decisions while being aware of the overall effect on your project.
For both fixed-price contracts and cost-reimbursable contracts, it is important that appropriate cost management techniques are in place and are applied, to give confidence that your project will be delivered at the right price.
Cash Flow Forecasting
Cash is the lifeblood of your business. The payment terms of most contracts means that work is usually paid in arrears, so it is important that Clients and Contractors what their liabilities are and when they are likely to be paid.
BCL provide cash flow forecasts which are easily understood and updated regularly.
Valuations & Payments
Construction contracts are generally for a defined period of time and, in certain circumstances, can be for a duration of a number of years. The contractor will require monies during the course of the works in order to remain financially secure.
BCL can therefore ensure accurate valuations are made for the purpose of ascertaining the amount due in an interim certificate from the Employer to the Contractor.
BCL can also monitor payments made by Employers and react immediately should these not be within the Contract terms.
Contractual Advice / Notices
Deciding on the best contract for the particular requirements of your project will always be a difficult decision. Contracts for construction projects must provide for a wide variety of project data (price, time, quality requirements) plus numerous legal issues.
BCL can advise on contractual procedures and administration on a variety of contract types.
We can also ensure your contractual notices etc are issued on time and in the correct format.
Variation Pricing & Agreement
BCL will ensure that costs associated with Architect Instructions or Employer’s Agent instructions that have been undertaken and completed are valued appropriately and included in your valuations.
BCL can also capture works in advance, ensuring that you and your client have sufficient notice of impending costs associated with potential changes.
Cost & Value Reporting & Reconciliation
Cost/value reconciliation (CVR) is your project’s profit and loss statement, comparing the internal valuation with the costs incurred, including liabilities and accruals for goods and services consumed in the works that have not yet been paid for.
BCL understand the cost and the value on your project, and how these both affect the bottom line.
Loss & Expense / Damages
In cases where a contractor has been delayed and/or disrupted by an event which is laid out in your contract, BCL can assume responsibility for ascertaining the loss and/or expense incurred to the Contractor.
Likewise, Liquidated damages are mainly used for late completion of works and are also sometimes used to compensate employers for failure to meet specified performance targets.
Final Accounts
A Final Account is a statement or calculation of the total value of work performed by a contractor pursuant to a contract, and the “final” amount (if any) due to the contractor.
Preparation, submission & subsequent agreement of Final Accounts can be protracted and sometimes contentious. BCL can support you in reaching a favourable Final Account settlement.
