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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'


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'.


Can you exclude the provisional sum from the contract price?

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 is retention sum?

The retention sum is outstanding own his various contracts are substantial part of the contractor's capital.


What has the author Robert D Brain written?

Robert D. Brain has written: 'Sum & substance quick review, contracts' 'Contracts Sixth Edition Quick Review (Sum & Substance Quick Review)' 'Sum and Substance Quick Review'


What does provisionally mean?

Provisional contracts means temporary contracts with a temporary agreement and against the contract the work order is also issued temporarily for a perticular period of time for the interest of the work.


How much do YTS contracts pay?

around £60


What is pay-down?

when you pay in parts later your total sum


What is a share capital?

This is the sum of money the shareholders pay into which is called the share capital This is the sum of money the shareholders pay into which is called the share capital


What happens if i have insurance for a full license but i only have a provisional license and have had an accident?

The driver does not have proper insurance at this point. since the insurance did not cover provisional licenses, the insurance provider mask likely does not have to pay out on any claim.


Do pay as you go have contracts?

There are no contracts for pay as you go or prepaid phone service. You simply purchase the phone and minutes then once your minutes are used up your service is stopped until new credits or minutes are purchased.