What is the difference between a site valuation and interim valuation

Question

The Contractor submitted his application a week prior to the actual site valuation. When is the Due date calculated from (JCT D&B 2016)

Terry Williams · Accepted Answer

A site valuation is a final assessment of the value of works completed on the construction site and is used to determine the amount payable to the contractor for those works. An interim valuation, on the other hand, is a regular assessment of the value of works completed to date, and is used to determine the amount payable to the contractor for those works on a more frequent basis. The frequency of interim valuations will be determined by the terms of the contract.
The due date for payment is usually calculated from the date the contractor's application for payment was received by the employer or his representative, as per the JCT D&B 2016.

What is the difference between a site valuation and interim valuation

valuation

interim

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FAROUK Yusuf

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