Document downloads - Valuing change
Available downloads
-
Code of measuring practice
Published: September 2007
Reinstated: 23 January 2018
Effective from: 23 January 2018
Code of measuring practice, 6th edition was reinstated on 23 January 2018 after publication of RICS property measurement, 2nd edition.
The 6th edition of the code became effective globally from 18 May 2015 when it was incorporated into the first professional statement, that for offices. -
Surveyors' construction handbook: valuations for interim certificates (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Any questions relating to its status and application should be addressed to the RICS QS and construction professional group. -
Valuing change
Published May 2010
Reissued March 2025
This practice information summarises what is meant by ‘change’ and how it is valued under JCT, NEC and FIDIC forms of contract.
Change is given specific definition within standard forms of contract, for example a Variation, Change of Employer’s Requirements or a Compensation Event. Each of these terms is explained in the definition section of the relevant contract conditions.
This document offers guidance for each of the main groups of contracts and the forms in most regular use within those groups, under the following headings which map to the Assessment of Professional Competence (APC):
• General principles (Level 1: Knowing)
• Practical application (Level 2: Doing)
• Practical considerations (Level 3: Doing/Advising)
This document was reissued in March 2025 as RICS practice information. It had previously been published in May 2010 as an RICS guidance note. No material changes have been made to the document. -
Ascertaining loss and expense
Published July 2024
Effective from publication
Originally published as a guidance note in 2015, this document has been rewritten as practice information to account for changes in legislation, case law and construction contracts introduced since 2015.
The ascertainment of loss and expense is a set of tasks that endeavour to calculate as precisely as possible, and in accordance with the contract, the additional costs or losses incurred by one party directly due to a default of the other.
This practice information covers:
- what is loss and expense
- standard forms of contracts
- global claims
- methods of analysis of loss and expense and
- strengths and weaknesses of the various methods.
This is part of RICS' Black Book, which is a collection of technical practice documents that covers all processes throughout the construction project life cycle. The documents are essential development tools for junior professionals working through their APC and useful guides to best practice for more experienced professionals.
A project is currently underway to review and update the Black Book content with the aim of producing a comprehensive new edition. Expected to publish in 2025, the new Black Book will comprise an overarching global professional standard, accompanied by practical guidance material. -
Interim valuations and payment
Published August 2015
Effective from 12 November 2015
Reissued April 2025
Most construction contracts require interim payments to be paid to the contractor. This is to relieve the contractor of the burden of financing the whole of the works until completion, which can take many months or years.
This practice information is effective from 12 November 2015.
This document covers:
• conditions of contract
• payment mechanisms
• retention
• valuation process and
• standard forms and covering letters.
This document was reissued in April 2025 as practice information. It had previously been published in August 2015 as a guidance note. No material changes have been made to the document.