Understanding Adjustments to the Contract Sum JCT SBC 2024
Understanding Adjustments to the Contract Sum JCT SBC 2024
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In this module we will look at the Contract Sum (or Ascertained Final Sum), what it is, what it means and how it can be adjusted. This is set out in clause 4.1 to 4.4 of the JCT 2024.
We will then move on to look at Retention, Provisional Sums and how Listed Items are dealt with as part of the valuation.
Accreditations & CPD
Accreditations & CPD
This course provides structured Continuing Professional Development (CPD). Recognition of CPD is subject to individual professional body requirements and the learner’s role. This course is not formally accredited unless explicitly stated.
Suitable for CPD requirements of RICS, CIOB, ICE, and CICES members.
Learning Outcomes
Learning Outcomes
After completing this module, you should:
• Understand the Contract Sum, or Tender Price, and what is included in it
• Know the reasons why the Contract Sum, or valuation (in the case of the with Approximate Quantities Form) may be adjusted
• Know how to deal with Listed Items and Provisional Sums
• Be able to explain how Retention is deducted and held
About the Author
About the Author
This course is produced by Built Intelligence, in association with Michael Bennett.
Michael is a solicitor and adjudicator with over 15 years of experience. He specialises in engineering and construction disputes, with a particular focus on highly technical matters and has advised on projects across almost every sector, including power, rail, road, pharmaceutical, oil and coastal defence.
