Search results
Results from the WOW.Com Content Network
The rate contract can also be established for a year or for multiple-years. The level of the rate contract agreed depends on: The level of standardization of the input; The predictability of procurement spend; The nature of the supplier market; The pricing power of the procurer as against the supplier.
Under a re-measurement (or remeasurement) contract, the price to be paid for the whole work is to be ascertained by measurement in detail of the various parts of the work and the valuation of the work done by reference to a schedule of prices included in the contract. [3]
The interest rate is stated in the Contract Particulars on contractually outstanding amounts. Reimbursement as a result of a delay in the progress of the works. Where a time extension is due to a breach of the contract by the Owner, the Contractor is entitled to reimbursement at the rate stated in the Contract Particulars.
Schedule of values is a detailed statement furnished by a construction contractor, builder or others outlining the portions of the contract sum. It allocates values for the various parts of the work and is also used as the basis for submitting and reviewing progress payments.
A bill of quantities is a document used in tendering in the construction industry in which materials, parts, and labor (and their costs) are itemized.It also (ideally) details the terms and conditions of the construction or repair contract and itemizes all work to enable a contractor to price the work for which he or she is bidding.
The Pending Home Sales index, which measures signed real estate contracts for existing single-family homes, condos, and co-ops, rose 2% to 77.4 from a month earlier. An index of 100 is equal to ...
This contract type may be contrasted with a cost-plus contract, which is intended to cover the costs incurred by the contractor plus an additional amount for profit, and with time-and-materials contracts and labor-hour contracts. [1] Fixed-price contracts are one of the main options available when contracting for supplies to governments.
Get AOL Mail for FREE! Manage your email like never before with travel, photo & document views. Personalize your inbox with themes & tabs. You've Got Mail!