Fixed charge - Revision history

Designing Buildings at 07:40, 4 December 2020

2020-12-04T07:40:17Z

← Older revision		Revision as of 07:40, 4 December 2020
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	{\|		{\|
−	\|…for work, the cost of which is to be considered independent of duration.	+	\| …for work, the cost of which is to be considered independent of duration.
	\|}		\|}

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	* Variations.		* Variations.

−	[[Category:~~Standards_/_measurements~~]] [[Category:~~DCN_Standard~~]] [[Category:Contracts_/_payment]] [[Category:Cost_/_business_planning]] [[Category:Procurement]]	+	[[Category:DCN_Definition]] [[Category:DCN_Guidance]] [[Category:Standards_/_measurements]] [[Category:Contracts_/_payment]] [[Category:Cost_/_business_planning]] [[Category:Procurement]]

Designing Buildings at 12:55, 2 January 2018

2018-01-02T12:55:45Z

← Older revision		Revision as of 12:55, 2 January 2018
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	* Relevant events.		* Relevant events.
	* Target cost contract.		* Target cost contract.
		+	* Time-related charge.
	* Variations.		* Variations.

−	[[Category:Standards_/_measurements]] [[Category:Contracts_/_payment]] [[Category:Cost_/_business_planning]] [[Category:Procurement]]	+	[[Category:Standards_/_measurements]] [[Category:DCN_Standard]] [[Category:Contracts_/_payment]] [[Category:Cost_/_business_planning]] [[Category:Procurement]]

Designing Buildings at 10:36, 2 January 2018

2018-01-02T10:36:41Z

← Older revision		Revision as of 10:36, 2 January 2018
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−	The New Rules of Measurement (NRM) are published by the Royal Institute of Chartered Surveyors (RICS) ~~and prepared by the Quantity Surveying and Construction Professional Group~~. They provide a standard set of measurement rules for estimating, cost planning, procurement and whole-life costing for construction projects.	+	The New Rules of Measurement (NRM) are published by the Royal Institute of Chartered Surveyors (RICS). They provide a standard set of measurement rules for estimating, cost planning, procurement and whole-life costing for construction projects.

	According to NRM2: Detailed measurement for building works, a fixed charge is:		According to NRM2: Detailed measurement for building works, a fixed charge is:
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	Charges may be fixed, time-related, or a combination of both.		Charges may be fixed, time-related, or a combination of both.

−	NB The Code of Estimating Practice, seventh edition, published by the Chartered Institute of Building (CIOB) in 2009 defines a fixed price contract as, ‘…a contract where the price is agreed and fixed before construction starts’.	+	NB The Code of Estimating Practice, seventh edition, published by the Chartered Institute of Building (CIOB) in 2009 defines a 'fixed price contract' as, ‘…a contract where the price is agreed and fixed before construction starts’.

−	However, in reality, contracts tend not to have fixed ~~prices~~, but allow the price to change under certain circumstances, such as:	+	However, in reality, contracts tend not to have a fixed price, but allow the price to change under certain circumstances, such as:

	* Variations.		* Variations.
Line 22:		Line 22:

	A truly 'fixed' price contract would not necessarily be in the interests of the client as it would require that the contractor price risks over which they may have no control, and which might not arise.		A truly 'fixed' price contract would not necessarily be in the interests of the client as it would require that the contractor price risks over which they may have no control, and which might not arise.
		+
		+	For more information see: Fixed price.

	= Find out more =		= Find out more =
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	=== Related articles on Designing Buildings Wiki ===		=== Related articles on Designing Buildings Wiki ===

−	* NRM2.
	* Code of Estimating Practice.		* Code of Estimating Practice.
−	* Fixed ~~charge~~.	+	* Fixed price.
	* Fluctuations.		* Fluctuations.
	* Guaranteed maximum price.		* Guaranteed maximum price.
	* Lump sum contract.		* Lump sum contract.
		+	* NRM2.
	* Procurement route.		* Procurement route.
	* Provisional sums.		* Provisional sums.
Line 38:		Line 40:
	* Target cost contract.		* Target cost contract.
	* Variations.		* Variations.
−	* Fixed price.

	[[Category:Standards_/_measurements]] [[Category:Contracts_/_payment]] [[Category:Cost_/_business_planning]] [[Category:Procurement]]		[[Category:Standards_/_measurements]] [[Category:Contracts_/_payment]] [[Category:Cost_/_business_planning]] [[Category:Procurement]]

Designing Buildings at 10:34, 2 January 2018

2018-01-02T10:34:22Z

← Older revision		Revision as of 10:34, 2 January 2018
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	* Payments to nominated sub-contractors or nominated suppliers.		* Payments to nominated sub-contractors or nominated suppliers.
	* Statutory fees.		* Statutory fees.
−	* Payments relating to opening-up and testing ~~the works~~.	+	* Payments relating to opening up works for inspection and testing.

	A truly 'fixed' price contract would not necessarily be in the interests of the client as it would require that the contractor price risks over which they may have no control, and which might not arise.		A truly 'fixed' price contract would not necessarily be in the interests of the client as it would require that the contractor price risks over which they may have no control, and which might not arise.

Designing Buildings: Created page with "The New Rules of Measurement (NRM) are published by the Royal Institute of Chartered Surveyors (RICS) and prepared by the Quantity Surveying and Construction Professional Group. ..."

2018-01-02T10:33:36Z

Created page with "The New Rules of Measurement (NRM) are published by the Royal Institute of Chartered Surveyors (RICS) and prepared by the Quantity Surveying and Construction Professional Group. ..."

New page

The New Rules of Measurement (NRM) are published by the Royal Institute of Chartered Surveyors (RICS) and prepared by the Quantity Surveying and Construction Professional Group. They provide a standard set of measurement rules for estimating, cost planning, procurement and whole-life costing for construction projects.

According to NRM2: Detailed measurement for building works, a fixed charge is:

{|
|…for work, the cost of which is to be considered independent of duration.
|}

Charges may be fixed, time-related, or a combination of both.

NB The Code of Estimating Practice, seventh edition, published by the Chartered Institute of Building (CIOB) in 2009 defines a fixed price contract as, ‘…a contract where the price is agreed and fixed before construction starts’.

However, in reality, contracts tend not to have fixed prices, but allow the price to change under certain circumstances, such as:

* Variations.
* Relevant events.
* Provisional sums.
* Fluctuations.
* Payments to nominated sub-contractors or nominated suppliers.
* Statutory fees.
* Payments relating to opening-up and testing the works.

A truly 'fixed' price contract would not necessarily be in the interests of the client as it would require that the contractor price risks over which they may have no control, and which might not arise.

= Find out more =

=== Related articles on Designing Buildings Wiki ===

* NRM2.
* Code of Estimating Practice.
* Fixed charge.
* Fluctuations.
* Guaranteed maximum price.
* Lump sum contract.
* Procurement route.
* Provisional sums.
* Relevant events.
* Target cost contract.
* Variations.
* Fixed price.

[[Category:Standards_/_measurements]] [[Category:Contracts_/_payment]] [[Category:Cost_/_business_planning]] [[Category:Procurement]]