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Advance Payment Recoupment

This document contains an interim valuation for a construction project. It provides details of the tender sum, builder's work completed to date, and a calculation to determine the monthly recoupment of advance payment based on work progress. The builder's work completed is currently RM 2,172,500 and the calculated monthly recoupment amount is RM 51,675 based on a 200% rate applied to the net builder's work versus the advance payment amount. A table tracks the project budget, work completed to date and cumulative recoupment of the RM 2,199,500 advance payment amount.

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433 views5 pages

Advance Payment Recoupment

This document contains an interim valuation for a construction project. It provides details of the tender sum, builder's work completed to date, and a calculation to determine the monthly recoupment of advance payment based on work progress. The builder's work completed is currently RM 2,172,500 and the calculated monthly recoupment amount is RM 51,675 based on a 200% rate applied to the net builder's work versus the advance payment amount. A table tracks the project budget, work completed to date and cumulative recoupment of the RM 2,199,500 advance payment amount.

Uploaded by

man
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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PROJECT :

SCOPE OF WORK :

ITEM : RECOUPMENT OF ADVANCE PAYMENT

INTERIM VALUATION NO. :

DATE :

1) Tender Sum (RM) - PC Sum - PV Sum = Builder's Work (RM) + 6% GST = Total BW (RM) X 25% =

10,500,000.00 - 1,700,000.00 - 500,000.00 = 8,300,000.00 + 498,000.00 = 8,798,000.00 X 25% =

Current Work Done Current Builder's Work


2) - PC Sum - PV Sum = + 6% GST = Current Total BW
(RM) (RM)
2,232,500.00 - 60,000.00 - - = 2,172,500.00 + 130,350.00 = 2,302,850.00

RM A Monthly Recoup
3) 200% X X Nett BW =
RM B Advance Payment (RM) Constant
2,199,500.00 Change based on current progress
200% X X 103,350.00 = 51,675.00
8,798,000.00

1) Builder's Work = 8,300,000.00

2) PC Sum = 1,700,000.00

3) PV Sum = 500,000.00

4) Tender Sum (RM) = 10,500,000.00


5) 6% of GST = 630,000.00

6) Contract sum (RM) = 11,130,000.00


Advance Payment
(RM)
2,199,500.00

Change based on current progress


RECOUPMENT TABLE OF ADVANCE PAYMENT

Current Builder's Advance


Current Total
Current WD PC Sum PV Sum Work (RM) = A-B- 6% GST Payment (25%
No. BW = D + E
C of Total BW)

A B C D E F G
A.P 0.00 0.00 0.00 0.00 0.00 0.00 2,199,500.00
1 446,500.00 0.00 0.00 446,500.00 26,790.00 473,290.00 2,199,500.00
2 1,071,600.00 0.00 0.00 1,071,600.00 64,296.00 1,135,896.00 2,199,500.00
3 2,232,500.00 60,000.00 0.00 2,172,500.00 130,350.00 2,302,850.00 2,199,500.00
4 3,895,500.00 265,000.00 0.00 3,630,500.00 217,830.00 3,848,330.00 2,199,500.00
5 5,565,000.00 630,000.00 0.00 4,935,000.00 296,100.00 5,231,100.00 2,199,500.00
6 7,234,500.00 970,000.00 0.00 6,264,500.00 375,870.00 6,640,370.00 2,199,500.00
7 0.00 0.00 0.00 0.00 2,199,500.00
8 0.00 0.00 0.00 0.00 2,199,500.00
9 0.00 0.00 0.00 0.00 2,199,500.00
10 0.00 0.00 0.00 0.00 2,199,500.00
11 0.00 0.00 0.00 0.00 2,199,500.00
12 0.00 0.00 0.00 0.00 2,199,500.00
Current Total (-)
Advance Cumulative
Advance
Payment / Total Cummulative = H x I (up to Total Amount of
Payment BW =
BW x 200% Advance Payment)
F-G
H I J
(2,199,500.00) 0.00 0.00 0.00
(1,726,210.00) 0.50 (863,105.00) (863,105.00)
(1,063,604.00) 0.50 (531,802.00) (531,802.00)
103,350.00 0.50 51,675.00 51,675.00
1,648,830.00 0.50 824,415.00 824,415.00
3,031,600.00 0.50 1,515,800.00 1,515,800.00
4,440,870.00 0.50 2,220,435.00 2,199,500.00
(2,199,500.00) 0.50 (1,099,750.00) (1,099,750.00)
(2,199,500.00) 0.50 (1,099,750.00) (1,099,750.00)
(2,199,500.00) 0.50 (1,099,750.00) (1,099,750.00)
(2,199,500.00) 0.50 (1,099,750.00)
(2,199,500.00) 0.50 (1,099,750.00)
(2,199,500.00) 0.50 (1,099,750.00)

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