Mark-up
According to The Code of Estimating Practice, seventh edition, published by the Chartered Institute of Building (CIOB) in 2009, the term ‘mark-up’ refers to:
The sum added to a cost estimate, following the settlement meeting, to arrive at a tender sum. Mark-up will include margin, allowances for exceptional risks, and adjustments for commercial matters such as financial charges, cash-flow, opportunities (scope) and competition. There may be a requirement for the main contractor’s discount when tendering as a sub-contractor and value added tax when required in the tender instruction. |
--CIOB
[edit] Find out more
[edit] Related articles on Designing Buildings Wiki
- Approximate quantities cost plan.
- Bills of quantities.
- Budget.
- Chartered Institute of Building.
- Contract sum analysis.
- Contract sum.
- Cost consultant.
- Cost control.
- Cost engineering.
- Cost plans for construction projects.
- Elemental cost plan
- Final account.
- Initial cost appraisals.
- Main contractor’s discount.
- Margin.
- Measurement.
- New Rules of Measurement.
- Pre-tender estimate.
- Project overheads.
- Tender pricing document.
Featured articles and news
America's economic collapse produced scores of PWA Moderne projects.
The benefits of glowing aggregates and cement.
Rising concern over construction worker wellbeing
Urgent need for open communication to address mental health issues.
New engineering alliance forms
Guidance offered on COVID-19 green recovery, building safety and more.
Providing strength and support above the joists.
Construction Products Regulator
Enforcer will test and investigate product safety.
London landmark receives a high tech upgrade
Underfloor air conditioning comes to 24 St James's Square.
Consultation on public right to buy unused public property.
Guidance for listed building alterations
IHBC resource offers improved consistency.
New laws to ‘retain and explain’ historic statues.
The principles and art of the possible. Book review.
From horse and cart to hypermarket.