Search results
Results from the WOW.Com Content Network
Due to its history of cost overruns, it is an example of how fixed price contracts place the risk upon the vendor, in this case Boeing. Total cost overruns for this aircraft have totaled about $1.9 billion. [10] However, Boeing was able to absorb those costs and has gained US Air Force approval to begin producing the KC-46. [11]
A bulkhead is an upright wall within the hull of a ship, within the fuselage of an airplane, or a car. Other kinds of partition elements within a ship are decks and deckheads . Etymology
Bulkhead door, an angled door covering the exterior stairwell of a basement; Bulkhead flatcar, a type of rolling stock designed with sturdy end-walls to prevent loads from shifting past the ends of the car; Rear pressure bulkhead, an airtight structural feature of an aircraft
About 50 feet (15 m) to one side of her was the State Pier, [84] which had recently been built at a cost of $1 million. [80] The EFC had hurriedly built a corrugated iron shed, 400 by 25 feet (122 by 8 m), on the pier. Between the pier and Willehad ' s bow, EFC built a floating gate 30 feet (9 m) high. This enclosed a space between the ship and ...
In cost plus percentage, the owner pays greater than 100 percent of the documented cost, usually requiring detailed expense accounting. [15] In this type of contract, contractor is paid the actual cost of work plus certain percentage as profit. Various contract documents, drawing, specifications are not necessary at the time of signing the ...
A Allocation of costs is the transfer of costs from one cost item to one or more other cost items. Allowance - a value in an estimate to cover the cost of known but not yet fully defined work. As-sold estimate - the estimate which matches the agreed items and price for the project scope. B Basis of estimate (BOE) - a document which describes the scope basis, pricing basis, methods ...
The project is then invoiced to the customer based on the actual costs incurred plus the agreed margin. It is essentially the same as what is known (especially in the U.S.) as a cost-plus contract. This contract form is popular to ensure that a competitive price is obtained, for instance in cases where tender competitions are impractical.
A cost-plus contract, also termed a cost plus contract, is a contract such that a contractor is paid for all of its allowed expenses, plus additional payment to allow for risk and incentive sharing. [1] Cost-reimbursement contracts contrast with fixed-price contract, in which the contractor is paid a negotiated amount regardless of incurred ...