Prime Cost Sum definition

Prime Cost Sum means an approximate sum included in the Contract to cover the cost of some particular small item of work or of some particular goods or materials to be done or supplied by the Contractor himself or by some named agency the cost of which is not known at the time the Contract is made.
View Source
Prime Cost Sum means the sum provided for work to be executed or for materials or services to be supplied by a Nominated Sub-contractor; such sum shall be the estimated net price to be paid for such work executed or for materials or services supplied by a Nominated Sub-contractor, after deducting any trade or other discount.
View Source
Prime Cost Sum means the amount specified by the Town in the Proposal Form representing an estimate for the cost of performance of a portion of the Work.
View Source

Examples of Prime Cost Sum in a sentence

  • The term "Prime Cost Sum" or "P.C. Sum" wherever used in these Bills of Quantities shall have the meaning stated in Section A item A7 (ii) of the Standard Method of Measurement mentioned in Condition No. 16 of the conditions of Contract.

  • A Prime Cost Sum has been provided for the cost of any permits required.

  • The Contractor shall be compensated for his expenses, overhead, labour and profit involved in procuring and delivering the materials by an amount equal to a percentage of the actual cost of the Prime Cost Sum.

  • Abbreviations used in the Bill of Quantities are as follows: mm = millimetre h = hour m = metre kg = kilogram km = kilometre t = ton (1000kg) m² = square metre No. = number m².pass = square metre pass sum = lump sum ha = hectare MN = meganewton m³ = cubic metre MN.m = meganewton-metre ▇▇.▇▇ = cubic metre-kilometre PC sum = Prime Cost Sum l = litre Prov sum = Provisional sum kl = kilolitre % = per cent MPa = megapascal kW = kilowatt kPa = kilopascal wt = wall thickness 3.

  • If the sub-contract inrespect of the work or supplies is undertaken by a Nominated Sub- Contractor or Nominated Supplier then, the Superintending Officer shall unless otherwise specified in the Contract allow to the Contractor the appropriate profit and attendance charges based on the rates or prices for other Prime Cost Sum items included in the Contract.


More Definitions of Prime Cost Sum

Prime Cost Sum has the meaning assigned to it in 5.6.
View Source
Prime Cost Sum means a sum so designated in the Pricing Document for work to be executed by a Nominated Sub-Contractor;
View Source

Related to Prime Cost Sum

  • Prime costs and “Prime cost sum” means the amount actually paid by the contractor for any article, commodity or special work and shall include all proper charges for packing, carriage and delivery to site, after deduction of all trade documents, rebates and allowances and the discount obtainable for cash insofar as such discount for cash exceeds 2½%.

  • Total Contract Price/Project Cost/TCO means the price payable to Service Provider over the entire period of Contract for the full and proper performance of its contractual obligations.

  • Project Expenses means usual and customary operating and financial costs. The term does not include extraordinary capital expenses, development fees and other non-operating expenses.

  • Construction Cost means and includes the cost of the entire construction of the Project, including all supervision, materials, supplies, labor, tools, equipment, transportation and/or other facilities furnished, used or consumed, without deduction on account of penalties, liquidated damages or other amounts withheld from payment to the contractor or contractors, but such cost shall not include the Consulting Engineer/Architect's fee, or other payments to the Consulting Engineer/Architect and shall not include cost of land or Rights-of-Way and Easement acquisition.

  • Direct Construction Cost shall have the meaning set forth in Article 11.