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Applications/Valuation for Payment

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Applications/Valuation for Payment

Many small Sub Contractors have traditionally operated a self-billing system, invoicing private clients directly for works undertaken partially complete, on an interim basis.

The problem is most reasonable sized Main Contractors will not accept self billing, and their Commercial Team will insist on cumulative applications for payment being submitted monthly by the Sub Contractor reflective of rates tendered with quantities applied a true assessment of works complete, up to the valuation date.

The Main Contractors QS will then value the Sub Contractors application, and certify payment against which, producing a certificate for the Sub Contractor to attach to their VAT invoice when applying for payment through the accounts department.

For Contractors more familiar with the ‘self billing’ system as apposed to the ‘application for payment’ process, at quantity-takeoff.com prepare Interim Applications at very reasonable rates, all we need from you is rates and quantities forming the basis of the agreement, together with details of actual progress to valuation date including variations.

 

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