1-10 of 280 results for 'provisional sum'

Glossary Term

Provisional sum

A sum included in the contract for foreseeable work, which could not be fully described at the date of the contract, because some details were ...

Project

Prime cost items and provisional sums

Published: 24 November 2011 | Edited: 14 September 2020

Most building contracts include provision for prime cost items and provisional sums. A prime cost item is an allowance in the contract for the supply ...

Resources

Guide letter 30: Advice to client - expenditure against provisional and prime cost sums

Published: 20 December 2011 | Edited: 26 May 2021

Guide letters provide advice about matters architects should consider when composing letters to the parties involved in architectural projects. 1.

Project

Provisional periods for delay

Published: 6 December 2011 | Edited: 22 May 2020

One way of anticipating and identifying up-front potential delays and avoiding undue surprises of costs after clients have made a financial ...

Glossary Term

Contingency sum

A sum of money included in a building contract or preserved outside it for expenditure, if necessary, on matters unforeseen at the time that the ...

Project

Contingency sum

Published: 9 January 2013 | Edited: 28 October 2020

A contingency sum is an amount of money, usually expressed as a percentage, included in the project budget to allow for the unknown or unresolved ...

Resources

Client note: Contingency sums

Published: 12 February 2019 | Edited: 27 August 2020

This advice is to assist clients in understanding the use of a contingency sum as a cost and budget management tool through the various stages of a ...

Glossary Term

Prime cost sum

A sum included in the contract for a foreseeable 'off the shelf' item, the precise identity of which was not known or had not been decided at the ...

Glossary Term

Project budget

An amount established by the client which represents the total available funds for the project including building costs, provisional sums, escalation ...

A sum of money allowed in the project budget to cover the cost of matters that are unknown or unresolved at the time the budget is established. The ...

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