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Two different holdbacks 1. For work or services performed before it is certified that the contract is substantially performed 2. For finishing work is designed to give finishing trades a claim against 10 % of the value of the remainder of the contract for services and materials supplied from the date of substantial performance to the date the contract is completed
its a method used in construction of recording the profitability of a project at a regular basis. normally once a month, pending on the size of the project.
A building permit is issued to construct almost any building or structure in most cities and counties. It is issued once the plan for the construction has been reviewed for safety per the international building safety codes. The fee paid for the permit is calculated as the average cost of the plan review and the on-site inspections which are done at designated intervals during construction, culminating in a final inspection that approves use or occupancy. Reviews and inspections are conducted by certified professionals acting under a Building Official. Permits are a fee for the services not a tax on an activity. Most real estate transactions require proof of permitted and inspected work - thus the permit is connected to intrinsic value. Design professionals and contractors rely on review and inspections as part of any project; quality, workmanship, and safety are a three-legged stool of modern construction. However, building codes date to ancient times where consequences for poor construction were direct - if someone was injured or died, the builder would be subjected to the same fate! If a contractor suggests that there is no need for permits they, more likely than not, are cutting corners on the project, unqualified, unlicensed, or all of these. As part of permit review most jurisdictions check contractor licenses. In addition, the review also includes a review of the site to insure proper placement and availability of services such as water and sewer. For more information, contact your local building safety department's Building Official.
The Compacting Factor = Weight of partially compacted concrete/Weight of fully compacted concrete.The weight of fully compacted concrete can also be calculated by knowing the proportion of materials, their respective specific gravities, and the volume of the cylinder.It is seen from experience, that it makes very little difference in compacting factor value, whether the weight of fully compacted concrete is calculated theoretically or found out actually after100 per cent compaction.
Yes a u-value or SAP calc expert can
The R-value is a measure of thermal resistance used in the building and construction industry.
Limit of retention is the maximum amount that can be retained in the construction contract. Suppose the retention % is 5% and limit of retention is 10%. On a contract value of Rs100.00. The first claim amounts to Rs20.00. Retention is Rs1.00 and net payment is Rs 19.00
A contract for carrying out any work which includes assembling, construction, building, altering, manufacturing, processing, fabricating, erection, installation, fitting out, improvement, repair or commissioning of any movable or immovable property. Where the works contract is in the nature of a taxable SERVICE, service tax will be liable on the value of such contract. Where goods are transferred and form integral part of the execution of such contract, VAT would be liable on such value of contract. However composite scheme is available for payment of taxes on works contract since they contain elements of both service tax and VAT. Composite tax of 4% can be paid to do away with the ST and VAT liabilities where no CENVAT credit will be allowed to be claimed.
This depends on many factors including the size nd height of the building, type of construction, types of metals utilized (copper, steel, aluminum, stainless, etc.)
It could range anywhere between 10 cents and 50 cents per $100 of value depending on the building construction, year built and location of the building.
It is the measure of insulation against heat/cold afforded by varying thicknesses and composition of construction insulation materials. The higher the "R" Value the better the insulation characteristics.
The value of the construction industry in the US in 2013 was $898.4 billion. The non-monetary value of the construction industry is insurmountable. Construction has allowed for safer and faster travel, billions of job opportunities, and significant financial success.
The value of new construction put in place in 2001 totaled $842.5 billion
To avoid under-insurance especially for long term projects, it is important to regularly review the total contract value upwards. Inflation can also cause the contractor to be under-insured due to the increase in the contract value of the project. Hence, the Escalation Clause is inserted in the policy to ensure the Total Contract Value is reviewed upwards and protects the insured from being under-insured when a claim arises. 15% per annum is usual the increase in value of projects.
Two different holdbacks 1. For work or services performed before it is certified that the contract is substantially performed 2. For finishing work is designed to give finishing trades a claim against 10 % of the value of the remainder of the contract for services and materials supplied from the date of substantial performance to the date the contract is completed
It is if you agreed to it in a contract. Otherwise the rental insurance is based on the value of what you own not the building you are renting.
The value of new nonresidential construction put in place in 2001 totaled $201.1 billion