Carlos Posted December 16, 2011 Report Share Posted December 16, 2011 I am not quite sure how a construction project like Mareel could be managed if the total cost of the project were reported in a manner that could not produce a complete cost accounting within 30 days (OK, I'll give you 60 days) from handover at completion - let alone a full year. I find it difficult to believe that Shetland Arts or their auditors would allow a situation like that to exist?Not sure on the context, but at first read it seems to be just a normal construction contract situation - a 1 year maintenance period with some issues that come up in that time being fixed at no cost (contractor liability) and some issues being extras paid for by the client, all balanced out in the retention paid at the end of the year?Could be different with the contract they are using though. Quote Link to comment Share on other sites More sharing options...
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