What is the purpose of a price allocation form?
Q: Who is the Employers Agent?
A: Employer's agent is defined as the term which is used for the description of the agent who is…
Q: Markup pricing is typically used by building or industrial contractors. Give an explanation as to…
A: Step: 1 Markup price: - It is defined as the difference between cost price to make building and the…
Q: What are the different types of construction contracts?
A: A construction contract is a formal or legally binding agreement made between two organizations…
Q: Provide a technical justification for the following: i. Formula for price adjustment (escalation)…
A: Price adjustments on account of increases or decreases in the costs of products and services in…
Q: What are Bidders Prequalifications?
A: - The motive of prequalification process is to examine a contractor and to determine its…
Q: Why do owners frequently call for alternative prices to be quoted with bids for construction work?
A: It Is quite common for project owners to ask contractors to provide alternative bids for work or…
Q: What are unit price contracts?
A:
Q: When are the unit price contracts used?
A: Introduction to Unit price contract Unit Price method is the kind of contract in which total cost of…
Q: What is the competitive bidding process?
A: The competitive bidding process as follows: Request for proposal: The organization seeking…
Q: Define the term fixed-price contracts?
A: A fixed-price contract is also known as a lump-sum contract or a firm-price contract. It establishes…
Q: What are performance and payment bonds?
A: A performance bond seems to be a guarantee bond provided by a lending firm or bank to ensure a…
Q: How are the bidder's errors interpreted?
A: The Bidder's Error are interpreted in following ways : 1. When the the rates of the bidder's…
Q: How is the Electronic Bid package provided?
A: Construction bidding is the process of submission of tender (proposal) by the contractor to the…
Q: What is a payless notice?
A: Pay Less Notice is defined as the notice which is written in order to notify the Payee from the…
Q: . Is the contract lump-sum, unit-price, or cost-plus-fixed-fee?
A: The lump sum contract is the most common type of an owner-contractor agreement, and is fairly easy…
Q: a) What is Bidding? b) Scope of the Manual of Procedure for the Procurement of Goods c) What is…
A: Four subparts are in the question.
Q: What is cost-of-service pricing? What is the relationship between value-of-service pricing and…
A: In type of cost-of-service pricing can be simply described as the cost for providing a particular…
Q: What are the payment provisions under the construction act?
A: The construction act allows each worker under a construction contract to accept payment in stage…
Q: What are the benefits of the forwarding the pricing change orders?
A: Forward pricing is defined as the estimated work cost which is yet to be carried out.
Q: What are the benefits of open shop contracting?
A: Open shop contracting is a type of agreement that may have a union, but it has freedom to hire both…
Q: Who provides performance and payment bonds?
A: For several construction projects a payment bond is needed.
Q: What is Bidder Prequalification?
A: Bidder Prequalification:
Q: Describe how computers can help with the first stage in pricing an estimate.
A: Computers are one of the most useful tool in the sorting and listing phase, and even the recap phase…
Q: How are cost reports used by an estimator
A: Uses of Cost report:
Q: Why does the contractor not want to make a commitment to unit -price amounts?
A: In Unit price amount contract, it is a commitment by the contractor to fix the rates of each and…
Q: Why Cost + Percentage Fee Contracts are not preferred by the owners
A: The construction contract is a legal agreement between owner and contractor, which has details about…
Q: Name two types of negotiated contracts and describe themethod of payment and incentive concept.
A: There are two types of negotiated contracts are as follows: 1) Cost+Percent of cost 2) Cost+Fixed…
Q: Explain the significance of unit cost in the context of a task order pricing structure.
A: A pricing structure establishes and arranges the prices of your company's goods and services. A…
Q: How is the force account used as a payment method?
A: Force account is a method of payment used for additional work if the contractor and the State…
Q: What would be the result of failure to agree on change order pricing?
A: A change order is a work that has been removed or attached to the original contract of work, but…
Q: What are the Bids and how can they be viewed?
A: Bidding in construction project refers to the process in which the contractor is selected for…
Q: What are Bid Bonds?
A: A big bond is one of a type of construction bond, which is a guarantee by the bidder or contractor…
Q: What are bid documents?
A: A bid document is defined as an output of the planned procurement management process. It is used…
Q: Must a contractor accept and perform all the work involvedin each contract change order? Is there a…
A: Contractor accept and perform all the work involved in each contract change order; A contractor,…
Q: What are some of the examples of fixed-price incentive contracts?
A: Fixed-price incentive contracts are fixed-price contracts but with the incentive given for finish…
Q: How are the field cost indexes derived?
A: Field Cost indices in construction : Most of the information used to compile construction price…
Q: How can the unit price projects be created?
A: The job to ever be done is divided into separate sections of a unit price arrangement, typically…
Q: What are the most commonly used cost estimating methods for software?
A: Cost estimation Cost estimation means estimating the cost values of various items involved in any…
Q: What are the payment provisions under NEC?
A: The first standout modification is that the contractor currently has associate degree obligation to…
Q: What are Stage Payments?
A: A stage payment is also called a schedule of payments, it is a list of dates setting out when…
Q: What is the purpose of the notice to bidders?
A: Purpose of the notice to bidders:
Q: What is the Bargaining strategy?
A: - Bargaining is the method of negotiating a price of product so that it can be mutually acceptable…
Q: Who asks the contractor to forward the pricing change orders and why?
A: A change order is a record that explains changes in the development scope, plan, site conditions, or…
Q: What are the examples of unit price contracts?
A: The estimated quantities of items and unit prices on the hourly rates, rate per unit work volume…
What is the purpose of a price allocation form?
The price allocation form is a start to finish list of work item on a project that represent the entire project from beginning to end and the entire contact price. It allocates the entire contract sum among the various portion of work.
Step by step
Solved in 2 steps
- Name two types of negotiated contracts and describe themethod of payment and incentive concept.What is cost-of-service pricing? What is the relationship between value-of-service pricing and cost-of-service pricing?Provide a technical justification for the following: i. Formula for price adjustment (escalation) ii. Contracts and contract administration