In your contract you will have a figure of $'000's for provisional sums. Normally for earthworks and other things they arent 100% sure of before starting work so it is a provisional figure. The builder if asked, is supposed to provide you a breakdown of where this money was spent at completion of the contract - (Including showing you invoices for the work if your request) . Normally it is invoice cost plus a markup of a certain % for the builder (The % will be listed in your contract.)
However 99% of builders wont say anything and just keep the unspent money as profit. But if you ask for clarification of any or all of the PS figures, they are legally obliged to go through the billing and provide you with copies of any work performed. Any amounts not billed or less than the PS figure they have to refund to you in full.
Things like Concrete pumps are sometimes billed and never used, earthworks often under the sums quoted.
I have my PC Inspection this week and asked them yesterday to confirm the PS which was listed as $14,076 in costs. Of that total they came back straight away and said yes we owe you $3500 and will credit that to me. (Would never have happened if I did not push them)
There is another $2500 I am disputing and asking to see receipts for. If they cant show me invoicing then they have to refund me that money also. So make sure you ask to see a detailed breakdown with copies of invoices as that is your right.
Most people forget in the excitement to get the keys, but if you like money as much as I do make sure you ask
Hi bud,
i dont have a breakdown like what your suggesting...
my contract stipulates percentages of the total sum for progress payments.... it just states that this must be payed at the end of each stage of the build.
i would love to catch them out. i am also at hand over on Monday
I would love to do this also as we spent so much additional costs to our siteworks I would like to know how much they actually cost.
What was the easiest and most efficient way you went about asking for their invoices? Im not sure if there is a % increase in my contract either, just the progress payment breakdown