Common use of Final Account Clause in Contracts

Final Account. The final value of the work shall be determined by the calculation of omissions and additions to the contract amount due to alterations. A draft final account must be given to the Client for approval within seven (7) days after completion of the work. The Client may make changes to the final draft account if necessary and return it to the Contractor within seven (7) days. Thereafter the Client must pay the Contractor.

Final Account. The final value of the work shall be determined by the calculation of omissions and additions to the contract amount due to alterations. A draft final account must be given by the Owner for approval to the Client for approval Contractor within seven (7) days after completion of the work. The Client Contractor may make changes to the final draft account if necessary necessary, and return it to the Contractor Owner within seven (7) days. Thereafter the Client Owner must pay the Contractor.