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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.
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 ...
Sometimes contractors submit lower tenders to win the contract and win the work. Either the costs that the contractor incurs are greater than the price he is charging the client (as a consequence of a lower tender determining the contract sum), and thus is likely to go insolvent , or he will claim for "loss and/or expense" due to discrepancies ...
This contract is suitable when the number of items are limited or when it is possible to work out exact quantities of work to be executed. The detailed specifications of all items of work, plans and detail drawings, security deposit, penalty, progress and other condition of contract are included in agreement.
The contract documents also establish the Scope of Work (SOW). The standard method is to review and understand the design package and take off (or perform a quantity survey of) the project scope by itemizing it into line items with measured quantities. RSMeans refers to this as, "Scope out the project," and, "Quantify."
The Common Arrangement is the authoritative UK classification of work sections for building work, for use in arranging project specifications and bills of quantities. Over 300 work sections are defined in detail to give: good coordination between drawings, specifications and bills of quantities; predictability of location of relevant information
Design–bid–build (or design/bid/build, and abbreviated D–B–B or D/B/B accordingly), also known as Design–tender (or "design/tender"), traditional method, or hardbid, is a project delivery method in which the agency or owner contracts with separate entities for the design and construction of a project.
The NEC contracts now form a suite of contracts, with NEC being the brand name for the "family" of contracts. [16] When it was first launched in 1993, it was simply the "New Engineering Contract". This specific contract has been renamed the "Engineering and Construction Contract" which is the main contract used for any construction based project.
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