Last edited 26 Mar 2018

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CIOB Institute / association Website

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

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