Navigating JCT Final Accounts

The JCT Design and Build Contract 2024 (“JCT D&B”) final account process seeks to achieve certainty for the parties over the final amount payable to the Contractor. A recent case highlights the importance of developers and contractors notifying each other within the contractual timeframes under clause 4.24.6 if they wish to challenge the amounts in a Final Statement.

The JCT final account process 

Clause 4.24 of the JCT D&B governs the final account process under which the parties arrive at the final figure due to the Contractor for the works. 

The Contractor is obliged to submit its Final Statement to the Employer (with such supporting documents as the Employer may reasonably require) within three months of practical completion. If it does not, the Employer can give notice that unless the statement is submitted by the Contractor within two months, the Employer can issue a final statement itself. In practice, once either the Contractor or the Employer has produced a Final