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Meaning Of Provisional Sum
Meaning Of Provisional Sum
Meaning Of Provisional Sum. Provisional Sums and Prime Cost sums in construction Part 1 What are Provisional Sum items Definition of Provisional Sum by FIDIC Conditions of Contract "Provisional Sum" means a sum (if any) which is specified in the Contract as a provisional sum, for the execution of any part of the Works or for the supply of Plant, Materials or services under Sub-Clauses 13.5 (Provisional Sums). A provisional sum is an allowance included in a construction contract to cover the estimated cost of certain work
Provisional Sum Meaning & Example Free Beginner's Guide 2 QS Tuts from qstuts.com
A provisional sum is an allowance included in a fixed price construction contract for an item of work that cannot be priced by the contractor at the time of entering the contract Provisional sum and prime cost items are allowances that can't be adequately quantified when a building contract is entered into
Provisional Sum Meaning & Example Free Beginner's Guide 2 QS Tuts
Provisional sums are replaced by valuations of the work actually done as the project progresses and so the contract sum may increase or decrease Provisional sums are replaced by valuations of the work actually done as the project progresses and so the contract sum may increase or decrease A provisional sum is an allowance included in a construction contract to cover the estimated cost of certain work
Provisional Sums Explained A Guide for HIA Victorian New Home Contracts — Build Together. Understanding what a provisional sum is in construction and its definition is crucial for both project managers and stakeholders Depending on the degree to which the works that the provisional sum relates to can be described at the tender stage, provisional sums may be referred to as 'defined' or 'undefined'.
Provisional Sum Meaning & Example Free Beginner's Guide 2 QS Tuts. It serves as an estimate for items or tasks whose exact requirements remain uncertain, allowing flexibility in cost as project details become clearer. It's important that all parties understand how these clauses operate before the contract is signed.