Once your work is completed, we’ll carry out a reconciliation of the overall scheme costs. This will include all costs incurred from our staff, our contractor, and any other suppliers and/or consultants involved in our operations, design, finance, procurement and project management teams.
We’ll then forward to the qualifying authority (or other designated agent) a final account with a breakdown in line with the cost-sharing arrangements claimed.
The balance between this and the payments already paid to date will require prompt settlement to enable project closedown to occur.
Only actual costs incurred are chargeable, which means we’ll refund any surplus funds held and invoice for any shortfall calculated.
We’ll make any betterment and deferment of renewal calculations at this final stage.
Failure to make payment before you start substantive work at any stage could invalidate the qualifying authority’s entitlement to take advantage of the cost-sharing arrangements.
If you need to discuss anything, please contact us.