Progress Claims & Variation Assessments

Progress claim assessments are usually undertaken monthly and are a means of providing details to the Developer and Financier as to how much work has been undertaken in the previous month and therefore provides details as to how much money is to be paid to the Contractor.

These progress claim assessments are also a means by which the Developer, Financier and Contractor maintains their cash flow. The monthly flow of funds are progress payments for the achievement of progress in accordance with the Contract.

Any changes to the contract requiring a change to a particular section of work will lead to a Variation of Contract. A variation causes changes to the contract sum and can either be a positive or a negative amount and are generally assessed by a Quantity Surveyor and included in the monthly Progress Claim Assessments.