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CHAPTER 1 - Coggle Diagram
CHAPTER 1
PRIME COST SUM
the sum of money designated for the 'Nominated Sub Contractor's' (NSC) or 'Nominated Supplier's' (NS) work or services, respectively.
The overall price estimated by QS based on the employer's information is the total price included in the PC Sum. The price will be used by following the employer's preferences and directives.
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The main contractor will also get paid for service fees, however, if the PC Sum is just for the supply of items, no fees will be paid.
The contractor will typically value this profit and attendance item as a percentage of the value of the work completed by NSC and the value of materials maintained by NS.
the word FIX ONLY must be stated in each work title in the BQ where the main contractor must only install materials/items supplied by NS
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If the main contractor is capable of participating in the tender with the SO's approval, then this profit and attendance cannot be provided to him.
PROVISIONAL SUM
an amount of money for work/supply of goods which cannot be seen, calculated and placed when tender documents are prepared
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The main contractor himself or other parties, such as NSC, as determined by the SO, may complete the work assigned under this provisional sum.
If the main contractor is performing the work, the value of the work must be determined using the evaluation for change work, i.e.
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All provisional sums must be taken into account when settling the contractor's accounts for the work they performed, and if necessary, the balance must be added to or subtracted from the contract price.
PROFIT AND ATTENDANCE
In the BQ, the contractor is provided separate payments for profit and attendance to be valued.
The PC Sum total price does not include profit to contractors, attendance, and main contractors to NSC.
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