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In construction, cost-plus contracts are drawn up so contractors can be reimbursed for direct costs and indirect oroverheadcosts. All expenses must be supported by invoices and receipts that identify the contractor's spending. The contract also provides the contractor with the opportunity to make a...
Engineering and Construction Contract E: Cost rembersable contract November 1995Thomas Telford
Dawn Killough is a writer with over 20 years of experience in construction, having worked as a staff accountant, green building advisor, project assistant, and contract administrator. She holds a BA in Psychology and MS in Conflict Resolution, both from the University of Portland. She shares fu...
Our cost managers place great emphasis on the control of construction costs. It is achieved by the application of their expert understanding of current prices of labour, materials and plant. In combination with an appreciation of design objectives and early stage decisions, this ensures the ...
contract allows for more flexibility in design by having the owner pay the contractor per number of units they build. A cost-plus contract, signed when the design is incomplete, has the owner pay for all costs plus a predetermined fee for the contractor. A variation of this is cost plus ...
cost accrued in construction contract 出包工程应付费用相关短语 two stage bidding (国际承包工程方式之一) 两段投标 resale (进口商无力付款提货,只好在进口地点减价出售) 再出售 site reconnaissance (工程的) 地址勘测 retroactivity of payments (补付) 款项的追领 shield method (隧洞工程中用的) 盾构法 time...
Every construction is unique in scope, contract type, relevant specifications, construction environment, and methods applied. These variations between projects make performed actions non-repetitive. Each construction project thus carries uncertainty and risk, fostered by the project’s complexity. As a res...
First, understand the capacity of the vendor and if they’re going to meet your needs. When the vendor quotes a cost, make sure it’s accurate. Then, before signing the contract, do a bit of background-checking to see if the vendor meets deadlines and see what others have to say abou...
contingency. The profit is the fee that the contractor earns for the contract—and that money can be reinvested to continue growing the business. Contingency, on the other hand, is a portion of the contract set aside foroverrunsand waste—which are generally to be expected on a construction ...