Building Terminology
Q. What is a contingency allowance?
A. a stipulated sum identified in the contract. It is usually used for undefined work. Overhead and profit are included in the contingency allowance, not in the contract price. A contingency allowance is expended and adjusted by Change Order.
Q. What is a contingency sum?
A. A sum included in an estimate or tender for undefined and unforeseen costs or work. It may be allocated to a nominated area eg. foundations or design, or it may not. It may also be identified as a requirement in tender documents.
Q. What are preliminaries?
A. The costs of complying with preliminary and contract clauses in the tender documents and the costs of providing site supervision, site administration, temporary facilities and plate.
Note: This excludes head office overheads.
Q. What are PC items?
A. Prime cost item is a sum of money allowed for the purchasing of items eg. bathroom fittings and kitchen fittings
Q. What is a provisional sum?
A. A sum nominated in the tender documents for work anticipated but insufficiently designed or detailed at the time of tendering.
A. a stipulated sum identified in the contract. It is usually used for undefined work. Overhead and profit are included in the contingency allowance, not in the contract price. A contingency allowance is expended and adjusted by Change Order.
Q. What is a contingency sum?
A. A sum included in an estimate or tender for undefined and unforeseen costs or work. It may be allocated to a nominated area eg. foundations or design, or it may not. It may also be identified as a requirement in tender documents.
Q. What are preliminaries?
A. The costs of complying with preliminary and contract clauses in the tender documents and the costs of providing site supervision, site administration, temporary facilities and plate.
Note: This excludes head office overheads.
Q. What are PC items?
A. Prime cost item is a sum of money allowed for the purchasing of items eg. bathroom fittings and kitchen fittings
Q. What is a provisional sum?
A. A sum nominated in the tender documents for work anticipated but insufficiently designed or detailed at the time of tendering.
