Prime cost in construction contracts - Revision history

Designing Buildings at 09:41, 10 September 2020

2020-09-10T09:41:40Z

← Older revision		Revision as of 09:41, 10 September 2020
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	Adjustments may be permitted to prime costs during the period of a contract to allow for inflation (fluctuations).		Adjustments may be permitted to prime costs during the period of a contract to allow for inflation (fluctuations).

−	~~= Find out more =~~	+	= Related articles on Designing Buildings Wiki =
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−	=== Related articles on Designing Buildings Wiki ===	+

	* Attendance.		* Attendance.
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	* Provisional sum.		* Provisional sum.

−	[[Category:Contracts_/_payment]] [[Category:Cost_/_business_planning]]	+	[[Category:DCN_Definition]] [[Category:DCN_Guidance]] [[Category:Contracts_/_payment]] [[Category:Cost_/_business_planning]]

Editor at 11:37, 7 November 2017

2017-11-07T11:37:23Z

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	In general terms, the ‘prime cost’ is the sum of the direct cost of materials and labour associated with a production process. It is the direct cost of the inputs to a process that are necessary to create the output. If the prime cost can be lowered, the process may become more profitable.		In general terms, the ‘prime cost’ is the sum of the direct cost of materials and labour associated with a production process. It is the direct cost of the inputs to a process that are necessary to create the output. If the prime cost can be lowered, the process may become more profitable.

	In construction, the term ‘prime cost sum’ (PC sum) is an allowance for the supply of labour, plant and materials to be provided by a contractor or supplier that will be nominated by the client. The allowance is exclusive of any profit mark up or attendance (such as material handling, scaffolding and rubbish clearance etc) by the main contractor. See prime cost sum for more information.		In construction, the term ‘prime cost sum’ (PC sum) is an allowance for the supply of labour, plant and materials to be provided by a contractor or supplier that will be nominated by the client. The allowance is exclusive of any profit mark up or attendance (such as material handling, scaffolding and rubbish clearance etc) by the main contractor. See prime cost sum for more information.

−	Prime cost contracts (sometimes referred to as cost plus contracts or cost reimbursement contracts) are contracts in which the contractor is paid the prime cost (the actual cost of labour, plant and materials) and a fee for profit and overheads. Prime cost contracts are used where an early or immediate start on site is required even though design information is not complete, for example for urgent alteration or repair work. See ~~prime~~ cost contract for more information.	+	Prime cost contracts (sometimes referred to as cost plus contracts or cost reimbursement contracts) are contracts in which the contractor is paid the prime cost (the actual cost of labour, plant and materials) and a fee for profit and overheads.
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		+	Prime cost contracts are used where an early or immediate start on site is required even though design information is not complete, for example for urgent alteration or repair work. See Prime cost contract for more information.

	Adjustments may be permitted to prime costs during the period of a contract to allow for inflation (fluctuations).		Adjustments may be permitted to prime costs during the period of a contract to allow for inflation (fluctuations).
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	=== Related articles on Designing Buildings Wiki ===		=== Related articles on Designing Buildings Wiki ===
−	*Attendance.
−	*Fluctuations.
−	*Prime contract.
−	*Prime cost contract.
−	*Prime cost sum.
−	*Profit and overheads.
−	*Provisional sum.

−	[[Category:Contracts_/_payment]]	+	* Attendance.
−	[[Category:Cost_/_business_planning]]	+	* Fluctuations.
		+	* Prime contract.
		+	* Prime cost contract.
		+	* Prime cost sum.
		+	* Profit and overheads.
		+	* Provisional sum.
		+
		+	[[Category:Contracts_/_payment]] [[Category:Cost_/_business_planning]]

Designing Buildings: moved Prime cost in consturction contracts to Prime cost in construction contracts

2016-02-19T11:17:51Z

moved Prime cost in consturction contracts to Prime cost in construction contracts

← Older revision

Revision as of 11:17, 19 February 2016

Designing Buildings: moved Prime cost to Prime cost in consturction contracts

2015-12-04T16:26:40Z

moved Prime cost to Prime cost in consturction contracts

← Older revision

Revision as of 16:26, 4 December 2015

Designing Buildings at 06:07, 18 May 2014

2014-05-18T06:07:23Z

← Older revision		Revision as of 06:07, 18 May 2014
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	In construction, the term ‘prime cost sum’ (PC sum) is an allowance for the supply of labour, plant and materials to be provided by a contractor or supplier that will be nominated by the client. The allowance is exclusive of any profit mark up or attendance (such as material handling, scaffolding and rubbish clearance etc) by the main contractor. See prime cost sum for more information.		In construction, the term ‘prime cost sum’ (PC sum) is an allowance for the supply of labour, plant and materials to be provided by a contractor or supplier that will be nominated by the client. The allowance is exclusive of any profit mark up or attendance (such as material handling, scaffolding and rubbish clearance etc) by the main contractor. See prime cost sum for more information.

−	Prime cost contracts (sometimes ~~called~~ cost plus contracts or cost reimbursement contracts) are contracts in which the contractor is paid the prime cost (the actual cost of labour, plant and materials) and a fee for profit and overheads. Prime cost contracts are used where an early or immediate start on site is required even though design information is not complete, for example for urgent alteration or repair work. See prime cost contract for more information.	+	Prime cost contracts (sometimes referred to as cost plus contracts or cost reimbursement contracts) are contracts in which the contractor is paid the prime cost (the actual cost of labour, plant and materials) and a fee for profit and overheads. Prime cost contracts are used where an early or immediate start on site is required even though design information is not complete, for example for urgent alteration or repair work. See prime cost contract for more information.

−	Adjustments may be permitted during the period of ~~the~~ contract to allow for inflation (~~fluctuation~~).	+	Adjustments may be permitted to prime costs during the period of a contract to allow for inflation (fluctuations).

	= Find out more =		= Find out more =

	=== Related articles on Designing Buildings Wiki ===		=== Related articles on Designing Buildings Wiki ===
		+	*Attendance.
	*Fluctuations.		*Fluctuations.
	*Prime contract.		*Prime contract.

Designing Buildings: Created page with " In general terms, the ‘prime cost’ is the sum of the direct cost of materials and labour associated with a production process. It is the direct cost of the inputs to a proce..."

2014-05-18T06:05:18Z

Created page with " In general terms, the ‘prime cost’ is the sum of the direct cost of materials and labour associated with a production process. It is the direct cost of the inputs to a proce..."

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In general terms, the ‘prime cost’ is the sum of the direct cost of materials and labour associated with a production process. It is the direct cost of the inputs to a process that are necessary to create the output. If the prime cost can be lowered, the process may become more profitable.

In construction, the term ‘prime cost sum’ (PC sum) is an allowance for the supply of labour, plant and materials to be provided by a contractor or supplier that will be nominated by the client. The allowance is exclusive of any profit mark up or attendance (such as material handling, scaffolding and rubbish clearance etc) by the main contractor. See prime cost sum for more information.

Prime cost contracts (sometimes called cost plus contracts or cost reimbursement contracts) are contracts in which the contractor is paid the prime cost (the actual cost of labour, plant and materials) and a fee for profit and overheads. Prime cost contracts are used where an early or immediate start on site is required even though design information is not complete, for example for urgent alteration or repair work. See prime cost contract for more information.

Adjustments may be permitted during the period of the contract to allow for inflation (fluctuation).

= Find out more =

=== Related articles on Designing Buildings Wiki ===
*Fluctuations.
*Prime contract.
*Prime cost contract.
*Prime cost sum.
*Profit and overheads.
*Provisional sum.

[[Category:Contracts_/_payment]]
[[Category:Cost_/_business_planning]]