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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 ...
All-in rate is a term used in both the construction industry and the financial sector. It refers to the total cost or rate charged for a service, including all associated fees and expenses. It refers to the total cost or rate charged for a service, including all associated fees and expenses.
A rate card, also known as a rate sheet, is a structured table or list that sets out the different list prices that apply to a range of services provided to enable the buyer to compare the options available. It is typically the standard published rates and therefore the maximum price a buyer will be expected to pay.
COBie was developed by Bill East, of the US Army Corps of Engineers, while at the Construction Engineering Research Laboratory in 2007. [3] The project was funded with an initial grant from the US National Aeronautics and Space Administration and the White House Office of Science and Technology Policy (through National Institute of Standards and Technology).
A construction contract is a mutual or legally binding agreement between two parties based on policies and conditions recorded in document form. The two parties involved are one or more property owners and one or more contractors .
Construction bidding is the process of submitting a proposal to undertake, or manage the undertaking of a construction project. The process starts with a cost estimate from blueprints and material take offs .
The practice of retainage dates back to the construction of the United Kingdom railway system in the 1840s. [2] [3]: 32 The size of the railway project increased demand for contractors, which led to the entrance of new contractors into the labor market. [2]
A Rate Contract or a Rate Agreement (RC in short) is an agreement between a buyer and a supplier to obtain products for a fixed unit price or price variation over a specified period of time, as a procurement cost reduction strategy.