We are the Consultant on a project who executed a contract under FIDIC 1987 4th Edition. Our Design and Supervision Fees in the consultancy agreement is based on a percentage of the final construction cost. The project went into delays and the Employer continued to pay our equal monthly fee based on the initial project tender cost. Now that the project is over at a higher cost than it started can we claim for adjustment in our fees even though the Employer continued to pay our normal fees during the EOT? If yes, how do we calculate it?
Answer Dear Gassan
Since the project is over now,then you must be able to calculate the final total Contract Price. As you have mentioned, your fees are based on a percentage of the final construction cost, then you should be able to figure our the balance between what your received and what is your total fees. the remainder should be paid to you or to the owner if your pay was in access of the agreement.
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