0
A mobilization advance is an amount of upfront money paid by the client to the contractor. This reduces the amount of working capital the contractor needs to come up with to start the job.
Wiki User
∙ 9y ago
Add your answer:
Earn +20 pts
What is advance payment in construction?
Many times a contractor will ask for an advance payment in construction before work can begin to make sure they will get paid. Advance payment might also be asked of the customer so that materials can be purchased.
What is ICI construction?
ICI Construction stands for Industrial-Commercial-Institutional Construction.
What is a complex construction?
it is frame type construction.
Name of a construction worker?
Construction Schmorganboard
What are the Construction Documents?
Similar question to "What are the various construction documents necessary for a construction project?" Check out the answer to it!
What is mobilization advance?
During construction projects various kinds of advances can be given to contractor if required contractually client should support contractor in issuing of any kind of advance money.
What is mobilisation guarantee and advance payment guarantee?
In civil construction projects advance is given to the contractor which is known is as Mobilization Advance. It is normally 15% of the total contract value. The prerequisite for the issue of advance is that contractor has to provide a guarantee in the shape of Bank or Insurance equal to the amount being issued to the contractor. Mobilization advance is deducted from the bills of contractor in equal installments covering the project period. On completion of recovery Guarantee provided by the contractor is released.
What does mobilization mean when used in construction bid terms?
The term mobilization, when used in construction bid, is the activation of a contractor's physical resources for transfer to a construction site. It also refers manpower until the completion of the contract.
Meaning of mobilisation advance?
A mobilization advance is an advance given to a contractor. Any interest fees should be clearly noted in the tender document.
Construction start dates must be met through implemenation of?
an effective mobilization plan
Construction start dates must be met through implementation of?
an effective mobilization plan
What are the functions of Co operative Banks?
1. mobilization of funds from their members. 2. advance loans to the members
What is meant by mobilization advance?
Mobilization advance means that as the population and people are getting advance more and more with the passage of time. People are beings advance with the latest trends and hardware & software products that are launched day by day. Since the time will come when the whole world will rush off with thousands of hardware things and no more space left for human beings to live life with out having tacking effect from those things.
What IS Mobilization fee?
A mobilization charge is often made for large equipment, a crane for example, to compensate the crane company for the time and expense to get the crane on site, erected and ready for work. The crane company will then charge by the hour as the crane is used. Mobilization fees are often charged as well on large construction projects to compensate the general contractor or construction management company for setting up the administrative offices for the duration of the contract.
What is advance payment in construction?
Many times a contractor will ask for an advance payment in construction before work can begin to make sure they will get paid. Advance payment might also be asked of the customer so that materials can be purchased.
What is mobilization cost?
the cost for transfer of a contractor's physical and manpower resources to a construction site until the completion of the contractthe cost for transfer of a contractor's physical and manpower resources to a construction site until the completion of the contract
What is social mobilization in urdu?
social mobilization
