Monthly valuations

The usual method of preparing an Interim Valuation is to value, on each occasion, the amount of work which has been done since the beginning of the contract including the value of other acceptable inclusions; deducting from total value at each monthly Valuation the total of previous payments; (Valuations) to give a balance due for payment.  If these rules are followed, any previous under-valuation or over-valuation will be automatically corrected.