1. Construction projects normally run over a long period of time, there are always claims that no one foresaw and there is often disagreement between the parties about partial requirements
2. It is also only after completion that the parties have the prerequisites to decide on their individual partial claims, get an overview of the overall objections, etc.
3. There is a need for a final final settlement and one must be sure that all claims and counterclaims are “on the table” so that a final line is set.
4. The standard contracts have similar rules on the mechanisms to be used in final settlement.
5. The general rule is that all claims and counterclaims the parties have against the other must be included in what is transmitted to the other.
6. Claims and counterclaims etc. which are not included shall lapse with final effect.
7. This applies regardless of whether the claims have been invoiced and paid previously, are invoiced but disputed or are new when the contractor's claim for final settlement is submitted.
8. In turn, the Total/General Contractor must reiterate its objections to the claims made, and submit its counterclaims (e.g. on a daily basis), within its time limit for responding to the subcontractor's claim for final settlement.
9. The deadlines for each subcontractor to submit its claim for final settlement, and for the total/general contractor to advance its objections and any counterclaim, are two months.
10. The subcontractor's claim for final settlement shall consist of two parts, a final statement in which all claims he claims are stated, and a final invoice which normally reads on gross claims as stated in the statement, minus the total paid by the general contractor.
11. Note that the subcontractor has the right to correct his final statement within the expiry of the two-month deadline in execution contracts, but not in turnkey contracts.
I'm 12. The total/general contractor has no equivalent right to correct whatever the form of the contract.
