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A Schedule of Values (SOV) is a detailed schedule apportioning the original contract sum and all change orders, among all cost code divisions or portions of the work. The Schedule of Values shall be based on the approved budget or the approved Fixed Price, or GMP, Cost-Plus Contract type as applicable.
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The latest officially released version of MasterFormat is the 2018 Edition, which uses the following Divisions: PROCUREMENT AND CONTRACTING REQUIREMENTS GROUP:
The Leahy–Smith America Invents Act (AIA) is a United States federal statute that was passed by Congress and signed into law by President Barack Obama on September 16, 2011. The law represents the most significant legislative change to the U.S. patent system since the Patent Act of 1952 and closely resembles previously proposed legislation in ...
Renders a flag icon and wikilink. Takes no parameters. Template parameters [Edit template data] Parameter Description Type Status No parameters specified See also Template:Country data Anguilla —for more options, such as historical flag variations where applicable Wikipedia:WikiProject Flag Template —for a complete discussion of the flag template system Wikipedia:Inline templates linking ...
The 16 Divisions of construction, as defined by the Construction Specifications Institute (CSI)'s MasterFormat, is the most widely used standard for organizing specifications and other written information for commercial and institutional building projects in the U.S. and Canada.
The local architecture firms that are responsible for corresponding with city agencies about code compliance, tender documents, client communication and creating up to 90 percent of the construction documents and carry out construction inspections are similar, but should be referred to as the "executive architect." [citation needed]
Revenues and gross profit are recognized each period based on the construction progress, in other words, the percentage of completion. Construction costs plus gross profit earned to date are accumulated in an asset account (construction in process, also called construction in progress), and progress billings are accumulated in a liability account (billing on construction in process).
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