What is a provisional item?

What is a provisional item?

Provisional Item means an item describing work, the requirement for which is uncertain at the time the tender documents are issued and which can only be carried out on instruction of the Engineer; Bid price for Provisional Items shall be included in the total contract price. Sample 1.

What is a provisional cost item?

What are Provisional Sums? A PS is a monetary allowance for works that will be carried out, but cannot be priced exactly at the time of signing the contract. They often include a combination of items, materials, labour and plant hire.

What is a provisional sum allowance?

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.

What is provisional sum example?

A common example of a provisional sum item is earthworks on a site where there is uncertainty about soil conditions. The builder will make a reasonable allowance for the site works based on the information available at the time.

What is the difference between a PC sum and a provisional sum?

A PC item is an amount of money included in a contract sum to purchase a specified item such as tiles, taps, doors or bathroom fittings. A provisional sum is an amount of money included in the contract sum to cover work or materials, or both, the extent of which cannot be specifically detailed when entering a contract.

What is provisional extension of time?

1.2 In this regard, it is observed that as per past/current practice in CPWD, the provisional extension of time (EOT) is granted by the Engineer-in-charge after the stipulated period of completion as stated in the contract is over and the contract/work is prolonged.

What is fully loaded cost?

Fully Loaded Cost means the direct cost of the applicable good, product or service plus indirect charges and overheads reasonably allocable to the provision of such good, product or service in accordance with US GAAP.

What does BOQ mean?

A bill of quantities (commonly known as BOQ or BQ) is a document prepared by a quantity surveyor or cost consultant to define the quality and quantity of works required to be carried out by the main contractor to complete a project.

What is extension time?

An extension of time (EOT) is a provision in most standard forms of contract, for an amendment of the scheduled Practical Completion date due to unforeseen circumstances and it is usually requested by the main Contractor. Such circumstances can include but are not limited to: Adverse weather conditions.

Can you issue an extension of time after practical completion?

There is no express bar in the contract on claiming an extension of time after practical completion and it is difficult to find any implicit bar. The closest provision is clause 2.7, which states that, if the it becomes apparent that delay will occur, “the Contractor shall thereupon notify the…

What is loaded hourly rate?

Fully loaded labor rate. This rate contains every possible cost associated with an employee, divided by the total number of hours worked by the employee.