Factors influencing final account settlement in construction projects
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The assessment and agreement of a final account in construction projects can be a difficult and time-consuming process to negotiate. Any delay of final account settlement can have an adverse impact on the cash flow of contractual parties such as contractors. A questionnaire survey was used to collect the perspective of experienced quantity surveyors’ on the key factors influencing the settlement of a final account. Ranking and factor analysis were applied to determine the most significant factors in influencing the settlement of a final account. The results revealed that ‘time’ and ‘variation’ (i.e. change orders) were the most significant factors.
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