ABSTRACT
On most contracts of any size, valuation normally will be carried out by a quantity surveyor at the request of the architect. On smaller projects, the architect often carries out the valuation. Larger projects have bills of quantities which are priced by the contractor and form the basis of valuations. It is no surprise that this process often gives rise to disputes. Matters such as mistakes in pricing the elements in the bill of quantities, the adjustment of rates, daywork disagreements and whether the scope of work has changed are common subjects of difference. Questions arising include loss of profit, exchange rates, acceleration costs and settlement agreements.
