Unless otherwise agreed in the SCC, the Contractor shall not later than 90 days after the issue of the Final Acceptance Certificate referred to in GCC Clause 89, submit to the Engineer a draft final statement of account with supporting documents showing in detail the value of the work done in accordance with the Contract, together with all further sums which the Contractor considers to be due to him under the Contract in order to enable the Engineer to prepare the final statement of account.
Within 60 days after receipt of the draft final statement of account and of all information reasonably required for its verification, the Engineer shall prepare the final statement of account, which determines:
(iiiiiiiiii)the amount which in his opinion is finally due under the Contract; and
(jjjjjjjjjj)after establishing the amounts previously paid by the Public Body and all sums to which the Public Body is entitled under the Contract, the balance, if any, due from the Public Body to the Contractor, or from the Contractor to the Public Body, as the case may be.
The Engineer shall issue to the Public Body or to its duly authorized representative, and to the Contractor, the final statement of account showing the final amount to which the Contractor is entitled under the Contract. The Public Body or its duly authorized representative and the Contractor shall sign the final statement of account as an acknowledgement of the full and final value of the work implemented under the Contract and shall promptly submit a signed copy to the Engineer. However, the final statement of account shall not include amounts in dispute which are the subject of negotiations or amicable settlement.
The final statement of account signed by the Contractor shall constitute a written discharge of the Public Body confirming that the total in the final statement of account represents full and final settlement of all monies due to the Contractor under the Contract, other than those amounts which are the subject of amicable settlement. However, such discharge shall become effective only after any payment due in accordance with the final statement of account has been made and the performance security referred to in GCC Clause 58 has been returned to the Contractor.
The Public Body shall not be liable to the Contractor for any matter or thing whatsoever arising out of, or in accordance with, the Contract or execution of the works, unless the Contractor shall have included a claim in respect thereof in his draft final statement of account.
