Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Interim payment definition

What does Interim payment mean? An interim payment is a court order requiring a defendant (or defender in Scotland) to pay a sum on account before final judgment. It does not cover legal costs. In England and Wales, the procedure is defined in CPR Part 25: the court may order an interim payment on account of any damages, debt or other sum (excluding costs) which it may hold the defendant liable to pay. The amount must be a reasonable proportion of the likely final award and is credited against the judgment; any overpayment can be repaid or secured. Scotland, Northern Ireland and Ireland recognise similar remedies through...

Final accounts in construction and engineering: JCT and NEC mechanisms, conclusive effect of final certificates, adjudication interplay, and HGCRA 1996 payment/pay less notices

Published by a LexisNexis Construction expert

Practice notes

What is the final account?

The term ‘final account’ denotes the consolidated statement of the works, submitted by the contractor to the employer once all activities are finished. It sets out the overall amount the contractor says is payable for the work actually performed, as opposed to the scope originally described in the executed contract. Before this stage, most building contracts allow for interim payments as progress is made—see Practice Note: Interim payments in construction contracts.

Within the final account, the contractor brings together every valid contractual claim for extra payment. Under certain contract forms, the contractor’s duty extends only to supplying the information the employer requires in order to compile the final account.

The final account closes off everything that has occurred regarding payment to the contractor during the life of the contract. Although the parties may be able to agree large parts of it, the attempt to secure agreement is frequently complex, lengthy and contentious, and may result in formal...

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Web page updated on 21/05/2026

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