ABSTRACT
The project costs often begin with the contract sum, and the integrity of this amount is clarified within the contract conditions. An important factor in any construction contract is the calculation and payment of the sum of money by the employer to the building contractor. The importance of the contract sum and its relationship to the final account, together with the matters relating to the timing of payments. The different contracts have procedures for calculating the amounts owing to the principal contractor both during the period of construction and also upon final completion of the contract. If any percentage or lump sum adjustments have been made in the contract bills, perhaps for the correction of errors, then they will need to be adjusted within the variation account. The only errors that can be corrected are those made by the quantity surveyor during the preparation of the contract bills.
