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
Listed buildings and other heritage assets
Review of the bible for heritage assets and their management.
The David Lloyd Lymington Sports Village was 'Commended' in CIAT's 2018 AT Awards.
How do we make the smart city a reality?
Sir Nicholas Grimshaw has been awarded the UK’s highest honour for architecture.
Protecting the construction industry from Brexit.
Building Information Modelling
Conceiving buildings collaboratively, testing them virtually.
Effective collaboration in post-disaster response and recovery
How do you prepare a claim for an extension of time and ensure it isn't rejected?
How innovative ‘design thinking’ may lead to new surface-water solutions.
What will be this year's office design trends?
Enhancing sustainability and resilience in disaster response.