Final Quantities Clause Samples
The 'Final Quantities' clause establishes how the definitive amounts of goods, materials, or work performed under a contract are determined at the conclusion of the project. Typically, this clause specifies that initial estimates or provisional quantities are subject to adjustment based on actual measurements or completed work, and the final payment will reflect these verified quantities. Its core practical function is to ensure that compensation accurately matches the work delivered, thereby preventing disputes over payment and clarifying the financial obligations of both parties.
Final Quantities. Upon completion of the work and determination of final pay quantities, a final contract adjustment may be prepared to reconcile any difference between estimated quantities previously paid and the final quantities. In this situation, the value for SI used in the price adjustment formula will be the average of all SI values previously used for computing price adjustments.
Final Quantities. Upon completion of the work and determination of final pay quantities, a final contract adjustment may be prepared to reconcile any difference between estimated quantities previously paid and the final pay quantities. In this situation, the value for FP used in the price adjustment formula will be the average of all FP’s previously used for computing price adjustments.
Final Quantities. Upon completion of the work and determination of final pay quantities, a final contract adjustment may be prepared to reconcile any difference between estimated quantities previously paid and the final quantities. In this situation, the