Building Contract Assessment is an assessment aimed to justify the actual work done by the contractor against the building contract signed between two parties e.g. owner and main contractor; main contractor and subcontractor; owner and tenant; etc, whether there is any overclaim by one party or fraud claim. It is usually required when there are disputes between both parties for a project claim. It shall be conducted by professional building consultant, who has extensive knowledge about building contract management.
IPM Professional Services provide our scopes of building contract assessment including:
Third party reviewer on the building contract
Measure and identity the actual quantity of works done and material supplied
Determine the material specification for the material installed at the site
Compare the determined quantity and material specifications with the bill of quantity and find out any discrepancy between the actual and the specified item
Analysis and discuss about the findings and limitations, provide professional recommendations, and draw the conclusion to the findings
Provide professional assessment report with professional engineer’s endorsement.
Our assessment report can be used to close the final account, as the report will clearly stated the actual scopes performed by one party which eventually can safeguard both parties’ interest. Besides, our assessment report can also be used as an independent review report for the court proceeding or arbitration.
In short, it is advisable to engage professional building consultant to conduct a thorough building contract assessment to determine whether the building contract between both parties are fair to each other. By engaging professional building consultant, the disputes are expected to be resolved sooner; the cost and time spent on the disputes would be significantly reduced and subsequently beneficial to both parties in the long run.