Imagine the following scenario:
Having reached a critical point in your latest construction project, the building contractor you hired decides to up tools and leave site, leaving you high and dry.
The worst part?
You’ve already overpaid them for completed work on the understanding that the extra payment was to cover work yet to be done.
It sounds like a nightmare, doesn’t it? Yet for many clients across the UK, this nightmare is all too real.
Each and every week, Bhangals Construction Consultants receive an average of two to three phone calls from clients facing this exact situation.
To help, we arrive on site to assess the value of the work already completed, including any variations from the original tender document, and help to negotiate a solution between client and contractor.
Whilst this is certainly one way of ensuring that the work is completed and contractors fairly compensated, it’s hardly the most effective.
In many ways, it’s like buying a house yet only asking the price after you’ve already moved in.
There is an Easier Way
So, if you’ve read this far, then you should know exactly why you need to pay a quantity surveyor to carry out regular, on-going valuations:
As a client, you simply can not afford to pay over the odds for project variations, nor can you afford to pay for work that isn’t completed.
As a contractor, ongoing payments often form your main source of income, so it’s equally as vital that you’re paid accurately and fairly for each stage of the project that is actually completed.
In case it still isn’t entirely clear, let’s take a closer look at what a quantity surveyor actually does.
What is Involved in a Valuations Service?
A qualified quantity surveyor visits your site on a regular basis (often monthly) to evaluate the work in progress.
Typically, this involves taking physical measurements of the development itself, and even the materials that have been delivered to the site so far.
Your quantity surveyor will use these measurements to determine the cost of work completed, and arrange for the appropriate stage payment to be made to the contractor.
This ensures that clients pay only for the work that has already been completed whilst contractors are guaranteed timely and accurate payments for their work.
What About Variations?
Variations are frequently an inevitable part of the construction process and can occur for any number of reasons.
To keep costs manageable, it is essential that all variations are assessed as they arise, and that both client and contractor agree on a fixed price for carrying out the work required in advance.
Your quantity surveyor will also help with this, evaluating the work to be done, and the cost of that work, before including the agreed fee in the contractor’s monthly stage payment.
The end result, of course, is satisfied parties on all sides.
The contractor gets paid for the work completed whilst having plenty of incentive to see the job through to the end, whilst the client receives a finished project, minimal disputes, and maximum value for money.
To find out more about valuation services from one of the UK’s top quantity surveyors, call Bhangals Construction Consultants 03304 048 904 today.