Clause 53 refers to the Contractors share arrangements and how these are to be assessed, with 53.3 stating the PM makes a preliminary assessment at Completion. we have a scenario currently where the Contractors application for payment PWDD exceeds the Target price prior to completion. All the CE’s have been implemented, and there will be a position where the contractor pays his share of the excess.
Reading clauses 53.3 and 53.4, the assessments are only to be undertaken at completion, which would mean that we are knowingly paying the contractor more money than they are entitled to, and seeking a credit at Completion.
Is this correct, or do we factor in the contractor share arrangements based on the value due in the period?