A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
A provisional sum is a sum of money included in the contract by the employer, normally as an amount in the bills of quantities or list of prices. One hopes that the provisional sum is sufficient to cover the actual cost, but whether it does or not, the provisional sum will be replaced by the actual calculated sum by the time the final account is prepared. In general terms, a provisional sum for defined work is where the contractor is notified of some basic facts about the work in the contract, such as the kind of work, its construction, its place in the building and the amount. A prime cost or PC sum is a sum of money included in the contract by the employer, normally as an amount in the bills of quantities or list of prices. That sounds exactly like a provisional sum.
A provisional sum is a sum of money included in the contract by the employer, normally as an amount in the bills of quantities or list of prices. One hopes that the provisional sum is sufficient to cover the actual cost, but whether it does or not, the provisional sum will be replaced by the actual calculated sum by the time the final account is prepared. In general terms, a provisional sum for defined work is where the contractor is notified of some basic facts about the work in the contract, such as the kind of work, its construction, its place in the building and the amount. A prime cost or PC sum is a sum of money included in the contract by the employer, normally as an amount in the bills of quantities or list of prices. That sounds exactly like a provisional sum.
Provisional and Prime Cost Sums
Chappell, David (author)
2020-01-07
3 pages
Article/Chapter (Book)
Electronic Resource
English
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