INTERIM VALUATIONS

1

INTERIM

VALUATIONS

Preparation for valuations of interim payment and advance payment

2

INTERIM VALUATIONS

Certificate

Of interim

certificate

Valuations

on Site

Preparations of Interim Valuations

3

INTERIM VALUATIONS

◼ The main items to be considered when valuing the works are:

◼ Measured work including preliminaries

◼ Value of variations and extras

◼ Value of nominated sub contractor or supplier work

◼ Fluctuations where applicable

◼ Unfixed material on site

◼ Retentions monies

◼ Previous payment

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INTERIM VALUATIONS

◼ Valuations of

preliminaries

◼ Based on the amount

of the contract period

that has elapsed

◼ Based on the value of

work done

◼ Based on valuations

by individual

assessment

◼ The preliminaries cost

will be distribute based

on three (3) stages of

completions :

◼ Initial cost

◼ Recurring cost

◼ Final cost

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CADANGAN MENAIKTARAF INFRASTRUKTUR JALAN DAN KERJA-KERJA

BERKAITAN DI KAWASAN PERINDUSTRIAN MURNI, SENAI, JOHOR

BILL NO. 1 - PRELIMINARIES Progress Payment No. 4

PAGE DESCRIPTION CONTRACT INITIAL RECURRENT COMPLETION REMARKS

REF. AMOUNT ( RM ) ( RM ) ( RM ) (RM )

B1/1/A WORKMEN 'S COMPENSATION 3,000.00 2,400.00 600.00 -

B1/1/A INSURANCE FOR PUBLIC LIABILITY 1,500.00 1,200.00 300.00 -

B1/1/A INSURANCE OF WORKS 1,500.00 1,200.00 300.00 -

B1/2/A STORAGE 8,000.00 8,000.00 - -

B1/2/B LICENCE SURVEYOR 10,000.00 8,000.00 2,000.00 -

B1/2/C PROGRESS PHOTOGRAPHS 2,000.00 - 2,000.00 -

B1/2/D WORK PROGRAMME 2,000.00 800.00 1,200.00 -

B1/2/E SIGNBOARD 2,500.00 2,000.00 - 500.00

B1/2/F HOARDING 10,000.00 8,000.00 - 2,000.00

B1/3/A SAFETY MEASURE 3,000.00 1,200.00 1,800.00 -

B1/3/B CIDB 3,500.00 3,500.00 - -

B1/3/C AS BUILT DRAWINGS FOR SERVICES 8,000.00 - - 8,000.00

B1/3/D SAFETY HELMET, BOOTS 2,000.00 - 2,000.00 -

B1/3/E COORDINATION WITH AUTHORITY - - - -

B1/3/F CLEANING AND CLEARING WORKS 3,000.00 - 600.00 2,400.00

B1/3/G DIGITAL CAMERA 2,000.00 1,600.00 400.00 -

B1/3/H TOSHIBA NOTE BOOK 10,000.00 8,000.00 2,000.00 -

TOTAL 72,000.00 45,900.00 13,200.00 12,900.00

PRELIMINARIES COST

Consultant to propose "calculation" of payment to be made for recurrent item

Collection

INITIAL COST : = 45,900.00

Less Item with underline -

45,900.00

RECCURRING COST : Value of W/done X Reccurent

Contract Sum - (PC + PS) -Preliminaries Cost

2,128,292.90 X 13,200.00 = 11,533.60

2,435,793.50

FINAL COST : = -

TOTAL CARRIED TO GENERAL SUMMARY : = 57,433.60

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INTERIM VALUATIONS

◼ Based on the amount of

the contract period that

has elapsed

◼ Total value of prelim vs

period of completions

◼ Say, RM75,000.00 / 60

week

◼ So, RM 1,250 per

week

◼ Based on the value of

work done

◼ Value of work done for

that particular month

◼ Less ( prime cost +

provisional sum +

preliminaries)

◼ Multiply by total cost of

preliminaries work

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INTERIM VALUATIONS

◼ Based on valuations by individual assessment

◼ Certain items may be required at the outset and can accordingly be valued in full, such as provision of temporary site fencing, constructions of temporary roads, and the erection of hoarding, storage compound etc.

◼ Items value in full or in part according to their usage, such scaffolding and plant

◼ Items valued in proportions to the works executed, such as wages of general foreman, cost of telephone call and inc.

◼ Items valued on completions such as cleaning and drying out

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INTERIM VALUATIONS

◼ Valuation of measured works

◼ Items of works done individually extracted from BQ

◼ Approx qty may be measured for the work as executed

and priced at bill rates.

◼ It maybe practicable to value the work as an estimated

% of the total value of a work section.

◼ Pre-determined stages of completions may be

assessed as % of the value of the total work in the

contract.

◼

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INTERIM VALUATIONS

◼ Valuations of variations and extra’s

◼ Any direct loss & expenses occur from

Architect /S.O instructions.

◼ QS should assess the value of these item to

be included in interim valuations

◼ The variations of omissions/addition from

original contract

◼ Net balance which is added to or deduct from

the valuation

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INTERIM VALUATIONS

◼ Valuation of Nominated Sub Contractor or Supplier’s work◼ NSC submit account to QS for assessment through

Contractor

◼ The account shall include :◼ Work executed to date,

◼ Original quotations,

◼ Extra works,

◼ Material on site

◼ The amount to be paid shall be specified in interim valuations.

◼ Proof the Contractor has paid the NSC are required

◼ In the event C’tor default, Arch elect to pay direct

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INTERIM VALUATIONS

◼ Fluctuations

◼ May inserted in a building /infra contract

◼ Adjustment for increase or decrease in the

cost of labour/material after date of tender

◼ Assessment of the value of fluctuations is

progressive and cumulative total added to

each valuations

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INTERIM VALUATIONS

◼ Unfixed material◼ Based on a list prepared by general foreman of COW

which can be checked on site

◼ Material should be of the specified quality, be insured and properly protected and not be brought on to the site prematurely.

◼ Conditions to be fulfilled :◼ Intended for inclusion in the works

◼ Complete, satisfactory and adequately insured

◼ Have been set apart, clearly and visibly and reference to identify where they are stored, person whose order, their destinations is works

◼ If say from supplier , material shall pass unconditionally to the C’tor

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INTERIM VALUATIONS

◼ Retention

◼ Retention by the employer of a proportion of

the monies due to the Contractor on an interim

certificate

◼ To create an incentive for the prompt and

satisfactory performance of the works

◼ To provide security for the employer against

default by the Contractor

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INTERIM VALUATIONS

◼ Release for Retentions◼ Sectional completions

◼ Half of retentions on value of relevant part is release within 14 days taking possessions

◼ Another half, after DLP end

◼ Amount of retentions will be reduce accordingly

◼ Good practice to issue interim certificate

◼ Final payment of a nominated sub con bef practical completions◼ Where Arch/SO wish to secure payment of NSC bef main con

complete,

◼ He may release the retentions held against completed sub contract work.

◼ NSC must satisfactorily indemnify the contractor against latent defects.

◼ Gross retentions will be reduced by the amount of retentions released.

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INTERIM VALUATIONS

◼ Release for Retentions (cont’d…)

◼ Practical completions

◼ Residue on issue of final certificate

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PAKATAN UKUR BAHAN SDN. BHD. (440419-K)

JURUUKUR BAHAN & PERUNDING KOS BINAAN

Engineers/S.O Y Architects

No. 18-03, Jln Permas 10/7,

Bandar Baru Permas Jaya,

81750 Johor Bahru,

Johor Darul Takzim.

dated the 1st day of December 2003 for Valuation No.

the works known as Cadangan Pembangunan Kompleks Perdagangan

Pekan Rabu (4 Tingkat), Pencawang Elektrik TNB Dan Date

Tempat Pembuangan Sampah Di Atas Sebahagian Lot

P.T.D. 63718, Mukim Tebrau, Johor Bahru, Johor Darul Date in Site

Takzim.

For Certificate no.

indicates that(n) interim 'balance is due

from the employer Swissharta Sdn. Bhd.

No, 256, Jalan Sutera,

Taman Sutera,

Johor Darul Takzim.

+Gross valuation RM

is the contractor System Metal Aluminium & Glass

Construction Sdn Bhd Not retention stated below RM

18 & 20, Jalan Kempas 4, Taman Perindustrian Tampoi

Indah, 81200 Johor Bahru. Net valuation RM

Contract sum RM Previously certified RM

Balance indicated Ringgit One Million Five Hundred Seventy Three Thousand Six Hundred

(in words) Ninety Three And Sen Seven Only

Gross relentation (Limit 5% #) excluding payment under Clauses 24 and 31 RM

RM

The Contractor having confirmed to the Engineer/S.O. receipt of satisfactory

Sub-contractor RM

Sub-contractor RM

Sub-contractor RM RM

Balance of retention RM

Partial release of retention on sectional completion under Clause 16.1 (vi) RM

Partial release of retention on practical completion under Clause 30.5 (iii) RM RM

Net retention as shown in valuation RM

Signature Quantity Surveyor

' Insert the word "interim" or "final"

It is assumed that the Engineer/S.O. will (make any adjustment in respect + including the value of works by

of work wich he considers improperly executed; (b) unless otherwise agreed notify nominated sub-contractors as to this

nominated sub-contractors of payment due to them; (c) satisfy himself, if he wishes valuation

that previous payment to nominated sub-contractor have been discharge.

# Insert percentage or "limit"

Statement of Retention

Five (5)

7th July 2004

30-Jun-04

Five (5)

7,708,018.07

410,709.44

7,297,308.63

5,723,615.56

1,573,693.07

8,214,188.85

Q.S. VALUATION

Q.S.'s

COPY

below, the retention being adjusted accordingly

410,709.44

410,709.44

410,709.44

Previous releases to nominated sub-contractor's

indemnify. Final payment is to be made to the Nominated Sub-Contractors listed

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PERUNTUKAN PEMBANGUNAN: MAKSUD : BUTIRAN :

TAJUK KERJA : CADANGAN MENAIKTARAF INFRASTRUKTUR JALAN DAN KERJA-KERJA

BERKAITAN DI KAWASAN PERINDUSTRIAN MURNI, SENAI, JOHOR

NAMA & ALAMAT KONTRAKTOR : TEAMCOAT METALCARE & DEVELOPMENT SDN BHD

No. 40 Jalan Penaga 10,

Kaw. Perindustrian Kota Putri,

81750 Masai,

Johor Darul Takzim.

NO. KONTRAK : MPKu.T/3/2007

JUMLAH HARGA ASAL KONTRAK : 2,507,793.50RM

JUMLAH BERSIH TAMBAHAN/POTONGAN : -RM

HARGA BARU KONTRAK : 2,507,793.50RM

A. BUTIR-BUTIR BAYARAN DAN POTONGAN

1. TARIKH PENILAIAN : 1hb. November 2007

2. NILAI KERJA DILAKSANAKAN DAN AMAUN-AMAUN LAIN YANG KENA BAYAR * 1,000,000.00RM

3. KURANGKAN Bayaran Interim Yang Terdahulu No. 1 - 2 459,438.58RM

4. NILAI BERSIH KERJA SEMASA 540,561.42RM

5. POTONGAN

a. Bayaran Balik Wang Pendahuluan

i) Amaun Terkumpul -RM

ii) Amaun Terdahulu -RM

iii) Amaun Semasa -RM

b. Akaun Deposit Wang Jaminan Perlaksanaan (Amaun Terdahulu) 51,048.73RM

c. Gantirugi Tertentu Dan Ditetapkan @ RM…….../hari selama ………. -RM

d. Potongan lain jika ada -RM

Jumlah Potongan 51,048.73RM 51,048.73RM

BAYARAN YANG DISYORKAN 489,512.69RM

……………………………………………… ……………………………………………… ………………………………………………

Perunding Jurutera/ Perunding Ukur Bahan Jurutera Bangunan/

Pengesyor yang bertanggungjawab Pengesyor yang bertanggungjawab Pegawai yang bertanggungjawab

Tarikh : ……………………………… Tarikh : ……………………………… Tarikh : ………………………………

B PERAKUAN BAYARAN

1. Bayaran Interim

a) Kepada Kontraktor Utama 440,561.42RM

b) Kepada Subkontraktor/Penerima Hak -RM

(Seperti di Lampiran A)

Jumlah Bayaran Interim 440,561.42RM 440,561.42RM

2. Kredit Akaun Deposit Wang Jaminan Perlaksanaan (10% dari Bayaran Disyorkan sehingga 5% harga kontrak) 48,951.27RM

BAYARAN DIPERAKUKAN 489,512.69RM

(Ringgit Malaysia: Empat Ratus Lapan Puluh Sembilan Ribu Lima Ratus Dua Belas dan Sen Enam Puluh Sembilan Sahaja)

Adalah disahkan bahawa semua peraturan kewangan dan kehendak di bawah Kontrak telah dipatuhi

Tarikh:………………..

1 Jumlah amaun yang dibayar dibawah Perakuan ini ialah

(Untuk diisi oleh Pegawai yang menyediakan baucer).

Sesalinan perakuan hendaklah dikembalikan kepada Jurukur Bahan/Wakil Pegawai Penguasa)

2 Bayaran wang pendahuluan yang telah dikeluarkan (Untuk diisi oleh Jurukur Bahan/Wakil Pegawai Penguasa)

3 Bayaran semula Wang Pendahuluan sehingga kini

4 Jumlah Wang Jaminan Yang Perlu Ditahan 125,389.68RM

* Termasuk Barang Tak Pasang, Pelarasan Turun Naik Harga, Tuntutan Bayaran Tambahan yang diluluskan

MAJLIS PERBANDARAN KULAI (MPKu)

PERAKUAN BAYARAN INTERIM NO : 3

Diberi Kuasa Untuk Memperakukan

Setiausaha /Pegawai Yang

…………………………………………………….

PERAKUAN BAYARAN INTERIM NO : 3

Amaun-amaun yang kena dibayar kepada Subkontraktor/ Pembekal Dinamakan, Penerima Hak dan Pegawai Penyelia Tapakbina

rJenis Kerja atau

BulanJumlah Harga

Jumlah Bayaran

Terdahulu

Amaun yang

diperakukan

(1) (3) (4) (5) (6)

A Perunding Kontraktor Utama

Nama :

Bank :

Alamat :

No. Akaun :

Jumlah Kecil

B Pembekal Dinamakan

Nama :

Bank :

Alamat :

No. Akaun :

Jumlah Kecil

C Penerima Hak

Nama : TEAMCOAT METALCARE Kontraktor 1,000,000.00RM 459,438.58RM 489,512.69RM

& DEVELOPMENT SDN BHD Utama

No. 40 Jalan Penaga 10,

Kaw. Perindustrian Kota Putri,

81750 Masai,

Johor Darul Takzim.

Bank : Affin Bank Berhad

Alamat : Taman Permas Jaya,

Johor Bahru, Johor

No. Akaun : 100730006258

Jumlah Kecil 489,512.69RM

D Pegawai Penyelia Tapak

Nama :

Bank :

Alamat :

No. Akaun :

Jumlah Kecil

Nota :

(2) Isikan nama subkontraktor/ penerima bayaran yang berkenaan

(3) Nyatakan jenis kerja atau bekalan atau bulan yang berkenaan bagi kategori Pegawai Penyelia. Tidak berkenaan bagi penerima hak.

(4) Isikan jumlah harga subkontraktor/ jumlah yang diserahhak. Tidak berkenaan bagi kategori pegawai penyelia.

Penerima Bayaran

(2)

Pegawai Pengesyor

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Advance Payment on Work Contract

◼ The Contractor shall be entitled to an Advance

Payment on the Contract amounting to 25% of the

Builder's works* (subject to a maximum of RM10

Million) on compliance with the following conditions:-

◼ (i) On return of the Letter of Acceptance duly signed by

the Contractor together with the Performance Bond (if

any), Insurance Policies, confirmation from SOCSO

Authorities (if applicable) and the receipts for all

premium paid,

◼ (ii) Production of a Banker's Guarantee on a standard

approved format equal in value to the advance

proposed to be paid.

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◼ The advance payment shall be recouped when the cumulative total value of the Builder's Work executed and certified (including the amount certified for materials on site) in the Interim Certificate reaches twenty five (25) percent of the Contract value of Builder's Works*;

◼ By way of a fixed percentage from the total certified value of the Builder's Work executed (including the amount certified for the materials on site) during the period covered by the Interim Certificate, in all the subsequent Certificate on the basis that the Advance Payment made shall be fully recovered in the Interim Certificate in which the cumulative total certified value of Builder's Work executed (including the amount certified for materials on site) reaches seventy five percent (75%) of the total Contract value of the Builder's Work*.

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The deduction shall be calculated as follows:

RM A

◼ RM D = 200 --------- percent of RM P

RM B

Where ;

◼ RM D = Cumulative deduction to be made in Interim Cert.

◼ RM A = Total amount of Advance Payment paid

◼ RM B = Total Contract value of Builder's work*

◼ RM P = Gross certified value of Builder’s Work executed (including the amount certified for materials site) in excess of 25% of RM B.

*Contract Sum less P.C. Sums, Provisional Sums and Contingencies (if any).

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◼ The liability under the Bank Guarantee shall be terminated upon realization by the Government of the full sum of Advance paid.

◼ However if the full sum of the Advance paid cannot be realized before the completion date of the Contract or any authorised extension thereof or in the case of the contract been determined before the date of the determination, then the balance of the Advance repayable to the Government shall be recovered from the Bank Guarantee.

22


◼ This special provision apply to Nominated

Sub-contractor or Nominated Supplier and

shall be entitled to an Advance Payment on

the Contract amounting to 20% of the

Package Value ( subject to a maximum of

RM5 million) on compliance with the same

conditions as stated in Surat Pekeliling

Perbendaharaan Bil. 10 Tahun 2002

(Tambahan Keenam SPP Bil. 2 Tahun

1995)).

Purposes of Interim Payment

◼To ensure that the Contractor is

regularly paid throughout the progress

of the works.

◼To maintain the Contractor’s cash-flow

and thus minimizing any deficit; which

may affect the smooth running of the

project.

◼To assist Contractor to overcome cash-

flow problems.23

◼To provide a source of self-financing in

respect of their own commitments to

suppliers and sub-contractors.

◼To relieve the contractor of the burden

of financing the whole of the works until

completion.

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Purposes of Interim Payment cont’d

Procedure of Payment as per PAM

◼ The contractor is to submit a payment application at

interim claim intervals (if none stated 1 month).

◼ The application must include details that enable the

architect or QS to ascertain the amount due in the

interim certificate.

◼ Generally, the payment claim should include amounts

claimed for work performed, value of materials on

site, variations performed, amounts due to NSCs,

loss and expense claims, and amounts claimed

under any other provision of the contract. Due

allowance for retention money and amounts

previously certified.25

Procedure of Payment as per PAM

◼ On receipt of the contractor’s application, the QS must prepare

an interim valuation. The QS calculates the gross valuation of

the work carried out by the contractor to date.

◼ Within 21 days of receipt of the contractor’s application (and

after receiving the QS’s payment valuation), the architect is to

issue an interim certificate to the employer with a copy to the

contractor.

◼ Within 21 days from the date of the certificate, the employer

must pay the contractor the amount certified, subject to his

rights to set-off.

◼ If the employer fails to make payment within the specified time,

then the contractor is entitled to recover interest for late payment

calculated at a rate specified in the appendix.

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Documents

INTERIM VALUATIONS