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Policies & Procedures

Chief Executive Financial Instructions

Policies

Forms of Contract Payment

The Agency’s Forms and Payments Policy aims to:

  • provide clarity to all stakeholders on the Agency’s position in relation to acceptance of the various payment forms for exchange deposits, Project Delivery Deeds and other arrangements; and
  • mitigate risks in relation to acceptance of deposits or insurance bonds and bank guarantees as payments, particularly around access to the funds over the required term.

Forms of contract payment policy (PDF 265KB)

Valuations Procedure

Please note: staff seeking valuation advice for land transactions are to be aware of the minimum timing requirement that is required for the Valuations team to fully process a valuations request:

  • Establishing a sale price – eight (8) weeks;
  • Due diligence expenditure and Business Case development – six (6) weeks;
  • Feasibility – four (4) weeks;
  • Acquisition – four (4) weeks;
  • Land transfers between the ACT Government and the Commonwealth Government and within the ACT Government – six (6) weeks;
  • Market appraisal – four (4) weeks;
  • A single non-complex site, could be completed within two (2) to four (4) weeks;
  • About twenty (20) blocks, could be completed within four (4) to eight (8) weeks; and

About five hundred (500) blocks, could be completed within twelve (12) weeks.

The timing requirement is also contingent on existing work pressures, available resources in the Valuations team, the complexity of the site or volume of the request, or where multiple releases are scheduled to occur within the same timeframe.

These approximate timeframes commence when the request has been fully scoped and all required information relating to the request has been received by the Valuations team.

As a general practice, business areas requiring valuation services at a future date are strongly advised to liaise with the Valuations team early and prior to seeking the valuations service.

For further information, please see the documents below:

 

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