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Yes, a provisional sum can be excluded from the contract price if it is not required for the completion of the project or if the specific works covered by the provisional sum are not ultimately executed. However, the contract terms should be reviewed, as provisional sums are typically included to account for uncertain costs that may arise during construction. Proper documentation and communication between the parties involved are essential to ensure clarity on any exclusions.
What else can I help you with?
In the 1930's what baseball player signed a two year contract with the New York Yankees for the huge sum of eighty thousand dollars?
Babe Ruth
How do you sum up the main parts in a conclusion?
You basically take the main idea of every paragraph and sum it up
What is the sum of the interior angles of a rhombus?
Well a Rhombus is a quadrilateral like a square or a rectangle, and the sum of the interior angles of all quadrilaterals is 360 degrees. So the sum of the interior angles of a rhombus is 360 degrees.
How do you pronounce cosumnes?
Ko- SUM - neez
How much ancient Olympics were held?
i dont no but there were sum
What are provisional sums?
The term 'provisional sum' is generally well understood in the construction industry. It is used in construction contracts to refer either to work which may or may not be carried out at all, or to work whose content is undefined. In either case, the parties will not attempt to price it accurately when they enter into their contract. Instead, the provisional sum is usually included within the contract price as an approximate guess. The contract normally provides expressly how it is to be dealt with. A common clause provides for the provisional sum to be omitted and an appropriate valuation of the work actually carried out substituted for it.
What is difference between variation and provisional sum?
Provisional sum is an amount quoted for an item in a tender document where all of the design information is not fully specified. The provisional sum should be as accurate as possible with the information to hand A variation is an item within a construction project that was not originally specified in the contract tender document and so is a 'variation to contract'.
Different between prime cost sum and provisional sum?
one has ' prime cost' in front of the word 'sum' and the other has the word 'provisional' in front of 'sum'
IS E P C Contract as a fixed sum price?
kind of.
What is contract sum?
it is to put an end
What is hire purchase?
Hire purchase(frequently abbreviated to HP) is the legal term for a contract, in cases where a buyer cannot afford to pay the asked price for an item of property as a lump sum but can afford to pay a percentage as a deposit, a hire-purchase contract allows the buyer to hire the goods for a monthly rent. When a sum equal to the original full price plus interest has been paid in equal installments, the buyer may then exercise an option to buy the goods at a predetermined price (usually a nominal sum) or return the goods to the owner.
What is established contract sum?
it is to put an end
What is hire purchase system?
Hire purchase(frequently abbreviated to HP) is the legal term for a contract, in cases where a buyer cannot afford to pay the asked price for an item of property as a lump sum but can afford to pay a percentage as a deposit, a hire-purchase contract allows the buyer to hire the goods for a monthly rent. When a sum equal to the original full price plus interest has been paid in equal installments, the buyer may then exercise an option to buy the goods at a predetermined price (usually a nominal sum) or return the goods to the owner.
What is a lump sum contract in a building construction agreement?
In this form of agreement, the contractor commits himself or herself to execute specified work for a stated "lump sum" or fixed amount. The lump sum might in some circumstances be adjustable on account of a rise or fall in the cost of labour and/or materials, or on account of any variation to the works at the request of the principal, or might include provisional allowances. But generally the contractor is not entitled to claim further money over the stated amount.
What is the difference between lump sum contract and turnkey contract?
A lump sum contract is an agreement to make a one time payment for goods and services as specified by the purchaser in the agreement. A turnkey contract is an agreement to deliver a completed ready to use service or project without any specifications made by the purchaser.
Small sum of money given to show intention of completing contract?
Earnest
A small sum of money given to show the intention of completing a contract?
earnest
