As Mudcem, an important service area we offer to our customers in the construction industry is "Progress Payments and Final Payment Audit". With this service, we carefully control the financial aspect of our customers' construction projects and ensure that calculations are made accurately and fairly.

Final Payment is an important document that shows the amount that must be paid to the Contractor after the completed works are evaluated in accordance with the contract terms following the provisional acceptance phase of a construction project. Interim Payments are temporary payment documents prepared at certain intervals (mostly monthly) during the progress of the work.

The following is done during the Final Progress Payment audit process:

• Contract and Project Compliance Control: After the completion of the work, the contract and project compliance of the works carried out with the unit price, lump sum price or cost + profit included in the Contractor's final progress payment is meticulously examined.

• Quantity Surveying: The quantities of the works performed are checked for compliance with the as-built project and its relevant annexes.

• Material and Labor Calculations: Material and labor quantities for important work items are calculated theoretically and compared with actual material and labor consumption.

• Price Differences inspection: If any, price differences are carefully reviewed, and corrections are made in accordance with market conditions when necessary. Additional status reports are prepared if necessary.

• Reporting: A report containing all these inspections and controls is prepared together with the final progress file and submitted to the Employer.

All these inspections and controls are carried out meticulously and impartially by experts in the field (technical personnel with high experience in the field of construction and inspection). The final progress payment audit process aims to reach an agreement between the Contractor and the Employer and ensures compliance with the contract terms.