Krissy Posted March 14, 2024 Report Share Posted March 14, 2024 Is 521 days(replacement of a roof)considered Multi-year contract in Construction? Is Multi-year applies to construction ? Quote Link to comment Share on other sites More sharing options...
Vel Posted March 15, 2024 Report Share Posted March 15, 2024 No. The replacement of the roof is a single undertaking and is considered a non-severable service because the benefit is not received until the work is complete. If the need is for the replacement of the roof, and it is executed this FY, it is a bonafide need for FY24 even if it takes longer than a year to perform. Quote Link to comment Share on other sites More sharing options...
C Culham Posted March 15, 2024 Report Share Posted March 15, 2024 22 hours ago, Krissy said: Is 521 days(replacement of a roof)considered Multi-year contract in Construction? Is Multi-year applies to construction ? You may find this WIFCON webpage reference useful for the future. A read of "Services Rendered Beyond the Fiscal Year" will help verify Vel's response. https://www.wifcon.com/bonafidecontents.htm Quote Link to comment Share on other sites More sharing options...
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