Guide to JCT Intermediate Building Contract 2016

6 Sums properly due

6.1 The contract sum, which will be the tender figure accepted or agreed following negotiation, is entered in Article 2. However, the wording of the contract recognises that, in practice, this is rarely the amount actually paid, and refers in Article 2 to the contract sum ‘or such other sum as becomes payable’. It should be noted that the contract sum itself does not change, the provisions refer to adding or subtracting amounts to or from the contract sum to reach an adjusted figure.

6.2 There are many reasons why the amount finally payable will differ from the contract sum. Under IC16 the sum may contain provisional sums or approximate quantities to cover the cost of work that cannot be accurately described or measured until ...