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] 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.
- Revenue.
- Project overheads.
- Tender pricing document.
Featured articles
Check out some of the best features and news from Designing Buildings as well as key stories from around the web.
Bridging the gap between clients and contractors
Concerns remain around contractor quality, capability, and delivery.
Construction Management, 10 June.
Heat pumps beat boilers in new home tests.
Building Safety Act implementation in Wales
CIAT to host industry panel on 26 June.
New and updated CLC building safety guidance.
New UK National Buildings Database.
Building Safety Wiki Interviews
Chief executive of the British Woodworking Federation.
Planning condition discharge in England and Wales
A brief explanation from a building compliance expert, with further links.
Overheating guidance and tools for building designers
Guidance for dealing with element of building fabric control that have increasing importance.
Shading for housing, a design guide
From the Good Homes Alliance and British Blind and Shutter Association.
UK Standard Skills Classification (SSC)
A shared framework for describing skills needs.
Social media ban consultation comes to close
CIOB urges UK Government to consider social media’s role in careers guidance in ban debate.