Last edited 26 Mar 2018
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
Our duty to prevent harm and protect each other.
A quality perspective.
If buildings were people, they would be just starting to walk on two legs.
Air filtration and clean air standards.
The Dukes of Normandy and the second world war.
Monuments, walls and metalwork
Conserving structures in historic designed landscapes.
Online platform to showcase acoustic solutions.
The drivers of value and how it is measured.
Do you know your Ionic from your Doric?
Construction output has been stronger than anticipated.
But blame is directed at the construction industry.