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13 Cards in this Set
- Front
- Back
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What is a provisional sum? |
Sum of money included in the contract for work by a statutory authority, work that cannot be fully defined at time of tender or work that it is not sure is required |
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What section of the preliminaries lists provisional sums? |
A54 |
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Give some examples of common provisional sum items |
Statutory signage |
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What is a defined provisional sum? |
A sum included in the contract for work that has not been completely designed at time of time but for which certain specified information can be given |
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Made proper allowance for carrying out the work in their programme and preliminaries |
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What if the actual work does not closely resemble the provisional sum? |
If the description is not accurate it has to be amended |
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A sum included for work for which there is minimal or no information at time of tender |
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What is the contractor deemed to have allowed? |
Not allowed for anything |
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The architect has to issue an AI for its expenditure |
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How are they valued? |
The same way as a variation i.e. agreement between employer and contractor, a schedule 2 quotation or by the QS under the Valuation Rules
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How are provisional sums dealt with in the final account?
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The provisional sums included in the contract are deducted and the actual amount substituted |
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What are the risks associated with provisional sums? |
That the actual cost and time exceeds that allowed for in the provisional sum because the nature of the item changes between tender and instruction |
