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Ensuring fair assessments and timely payments at every stage
Accurate Interim Valuations for
Smooth Project Progression
Our interim valuation services provide a detailed evaluation of your project’s progress, ensuring accurate payments and keeping your project on track. At Reltic, we help you stay on top of your project’s financials, offering clarity and confidence at every milestone.
What Is an Interim Valuation?
An interim valuation is a financial assessment carried out at regular intervals throughout a construction project. It determines the value of work completed to date, allowing for staged payments rather than waiting until the project’s completion. This process ensures that contractors receive fair compensation while maintaining cash flow efficiency for all parties involved.
Improves cash flow – Ensures contractors and subcontractors receive regular payments.
Reduces financial risk – Avoids financial strain on both contractors and developers.
Enhances project efficiency – Keeps construction moving smoothly without unnecessary delays.
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Who Needs Interim Valuation Services?
Our interim valuation services are designed to support a wide range of professionals in the construction industry. Whether you are a contractor looking for fair payments, a developer managing project finances, or a quantity surveyor ensuring cost accuracy, we provide expert valuation solutions tailored to your needs.
Main Contractors – Receive fair and timely payments for completed work.
Subcontractors – Ensure accurate valuations and avoid payment disputes.
Developers & Clients – Maintain financial control and efficient cost management.
Quantity Surveyors – Get expert support for precise cost assessments and payment certification.
How Interim Valuations Work in Construction
The interim valuation process follows a structured approach to ensure fairness and accuracy. Here’s a breakdown of how we manage interim valuations:
Site Assessment
We conduct a detailed site visit to assess the actual progress of work against contractual agreements. This ensures that valuations reflect real progress rather than estimates.
Measurement & Valuation
Using precise measurement techniques, we calculate the value of completed work, factoring in materials on-site, variations, and any additional costs agreed upon.
Payment Certification
Once the valuation is complete, we issue an Interim Payment Certificate, confirming the amount due. This allows for smooth transactions between contractors and clients.
Ongoing Reviews & Adjustments
Construction projects evolve, and so do valuations. We provide ongoing assessments to adjust valuations based on project changes, unforeseen circumstances, or contract variations.
Key Benefits of Using Our Interim Valuation Services
We use industry best practices to ensure valuations reflect actual work completed, avoiding disputes and financial discrepancies.
- Ensures payments match actual work completed.
- Reduces the risk of valuation-related disputes.
- Provides clear, documented valuation reports.
Regular valuations help maintain a steady cash flow, reducing financial strain and ensuring project continuity.
- Prevents cash flow shortages during projects.
- Ensures subcontractors receive timely payments.
- Reduces financial stress for all stakeholders.
Our valuations adhere to RICS guidelines and JCT contract requirements, ensuring full compliance and reliability.
- Aligns with JCT and RICS best practices
- Ensures legally sound valuation processes.
- Protects against contractual disputes.
Should disagreements arise, our valuation process provides a solid foundation for resolving disputes efficiently.
- Provides a clear valuation audit trail.
- Reduces the risk of costly legal conflicts.
- Supports negotiations with solid evidence.
Common Questions
An interim valuation is a financial assessment carried out at set intervals to determine the value of completed work. It allows for staged payments rather than waiting until the project is fully completed.
Interim valuations are typically conducted monthly or at agreed intervals specified in the contract. The frequency ensures contractors receive timely payments and maintain cash flow.
Interim valuations are usually prepared by a quantity surveyor or contract administrator, ensuring accuracy, fairness, and compliance with contract terms.
If a dispute arises, we provide expert support in reviewing valuations, offering evidence-based assessments, and ensuring fair resolutions based on JCT and RICS guidelines.
You can contact us via phone or email to discuss your project. Our team will assess your requirements and provide a tailored valuation service to meet your needs.
Any questions you want to ask?
Have questions? Contact us or check out our blog for more!