South Australian Numbered Acts South Australian Numbered Acts10—Valuation of construction work and related goods and services
(1) Construction work
carried out under a construction contract is to be valued—
(a) in
accordance with the terms of the contract; or
(b) if
the contract makes no express provision with respect to the matter, having
regard to—
(i)
the contract price for the work; and
(ii)
any other rates or prices set out in the contract; and
(iii)
any variation agreed to by the parties to the contract by
which the contract price, or any other rate or price set out in the contract,
is to be adjusted by a specific amount; and
(iv)
if any of the work is defective, the estimated cost of
rectifying the defect.
(2)
Related goods and services supplied or undertaken to be supplied under a
construction contract are to be valued—
(a) in
accordance with the terms of the contract; or
(b) if
the contract makes no express provision with respect to the matter, having
regard to—
(i)
the contract price for the goods and services; and
(ii)
any other rates or prices set out in the contract; and
(iii)
any variation agreed to by the parties to the contract by
which the contract price, or any other rate or price set out in the contract,
is to be adjusted by a specific amount; and
(iv)
if any of the goods are defective, the estimated cost of
rectifying the defect,
and, in the case of materials and components that are to form part of any
building, structure or work arising from construction work, on the basis that
the only materials and components to be included in the valuation are those
that have become (or, on payment, will become) the property of the party for
whom construction work is being carried out.