Construction Contract Payment Schedule

Contract Stages, Contract Payment Schedule, or Project Milestones are all to mark specific points along a project timeline. The payment schedule during construction is referred to in most building contracts as ‘progress claims’. Milestone on the construction contract are time-related Continue reading

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Primed Cost (PC) and Provisional Sum (PS) Items

Prime cost and provisional sums are those costs that cannot be accurately costed in the contract stage. So, Builders or Estimators just do their best guess and calculate it as an allowance. It saves time in going to contract stage Continue reading

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