What’s covered in a cost-plus contract? Project CostsProject costs associated with the construction project, includinglabour,materials,subcontractor profit,expenses,allowances, andchange orders Contractor MarkupOften charged as apercentage of the total project costor afixed feethat accounts for the gene...
An allowance is an amount of money given or allotted usually at regular intervals for a specific purpose. In the context of children, parents may provide an
The purpose of contingency in construction is to establish a reserve of cash for unpredictable issues, not to provide a catch-all to cover avoidable mistakes, pre-existing site conditions, or scope creep. Clear rules and restrictions defining how contingency funds can (and cannot) be allocated he...
In addition to these common kinds of mortgages, there are other types you might encounter when shopping around for a loan: Construction loans If you want to build a home, you can’t use a regular mortgage to finance it (as there’s nothing to back the loan yet). But you can take out...
Exterior changes that benefit all tenants in the building are not considered leasehold improvements. Examples of non-leasehold improvements include roof construction and the paving of walkways. Paying for Changes Tenant Improvement Allowance (TIA):The landlord gives the tenant a certain amount of money...
You need a repayment term that is feasible and fits with your income and cash flow. Note that some lenders may let you choose from several repayment plans, including paying off your debt in even amounts (which allows you to budget the cost easily) or increasing amounts (which allows you ...
Sometimes knowing the value of something is not as easy as assigning it the cost you paid for it. When the value of an asset changes daily, another method needs to be used to calculate the value. In this lesson, we will learn one method known as mark to market. Related...
What is a Draw Against Commission? A draw against commission is atype of compensationstructure that provides a guaranteed amount of pay in advance for each paycheck. It acts similarly to a cash advance for sales representatives. Typically, the amount of the draw is predetermined and subtracted fr...
in exchange for rent. I decided to let the farmhouse to a couple while I was working abroad. Allow (transitive) To take into account by making an allowance. When calculating a budget for a construction project, always allow for contingencies. Let (transitive) To give, grant, or assign, ...
The BILL Divvy Reserve Card not only optimizes cash back, but also empowers you with expense management and spend controls through the BILL Divvy Reserve Card. Higher rewards—Get more cash back on every purchase—1.5% is just the beginning. Spending 100k a month on eligible purchases will ea...