How to calculate provision sum and margin?
We are nearing completion and have received the final invoice which includes unexpected expenses for provisioned items. The initial contract quoted $8,000 for OHS, but the invoice totals approximately $14,000. The contract margin for provisioned items is 20%.
Is the final amount =
14,000+(14000-8000)×0.2
Or 14,000+14,000 x0.2?
Items not completed as per contract:
Additionally, there are a couple of items (e.g. builder installed flash caping instead of klipklop roof +gutter + Rainhead) that were not completed as per the contract, and we haven't provided written agreement for their exclusion/changes.
Builder suggested these items were deemed unnecessary and the outcome improves upon the original design which we are not sure and have no way to approve.
Any advice on how to address this situation?
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