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.
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