Project Cost Managament

HideShow resource information
Contract Sum & the final account includes....
additions, deductions, adjustments, interim certificates
1 of 6
a variation is....
an alteration to the scope of works in a construction contract in the form of an addition, substitution or omission from the original scope of works. they are communicated through inspectors, result in the adjustment of the contract sum
2 of 6
a variation comes from...
changes in circumstances, modification of the design, quality and quantity of work.
3 of 6
Interim certificates provide....
a system for the client to make stage payments to the contractor before completion, The Housing Grants, Construction and Regeneration Act, states that a party to a construction contract in excess of 45 days is entitled to interim or stage payments.
4 of 6
Retention....
provides the employer with security against failures of the contractor, it is charged from each certificate then released
5 of 6
the final certificate.....
is issued no more than 2 months after the end of contract sum and the end of the dlp. the FC is settled no more than 28 days after it has been issued
6 of 6

Other cards in this set

Card 2

Front

a variation is....

Back

an alteration to the scope of works in a construction contract in the form of an addition, substitution or omission from the original scope of works. they are communicated through inspectors, result in the adjustment of the contract sum

Card 3

Front

a variation comes from...

Back

Preview of the front of card 3

Card 4

Front

Interim certificates provide....

Back

Preview of the front of card 4

Card 5

Front

Retention....

Back

Preview of the front of card 5
View more cards

Comments

No comments have yet been made

Similar Business Management resources:

See all Business Management resources »See all Project Cost Managament resources »