JCT Contract Administration
The final account is the amount payable to the contractor after the completion of the works in accordance with whatever contract is being used. It reconciles the amount finally paid with the initial contract sum. The main reason for a difference between the two is variations in the design of works after the contract is agreed. Although SBC/Q2016 allows for variations and states (3.14.5) that no variation “shall vitiate this contract”, there is a question of whether all variations are permissible. This gives rise to a distinction between “variations to the contract” and “variations to the works”.
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