Tender settlement in construction procurement
The Code of Estimating Practice, seventh edition, published by the Chartered Institute of Building (CIOB) in 2009 suggests the term ‘tender settlement’ refers to:
‘…the conversion of a cost estimate into a tender taking the commercial interests of the contractor into account.’
Where ‘settlement’ is:
‘The action taken by management to convert an estimate into a tender. Also commonly known as ‘appraisal’ or ‘final review’.
The tender settlement meeting is part of the pre-contract planning process, held just before the contractor submits their tender to the client. See tender settlement meeting for more information.
[edit] Related articles on Designing Buildings Wiki
Featured articles
Check out some of the best features and news from Designing Buildings as well as key stories from around the web.
Rethinking passive fire protection in design
PFP demands the same level of design rigour as structure or services.
38% of Gen Zs feel safe when a fire door is wedged open.
Stunning images from around the world
Shortlist for CIOB’s Art of Building photography competition.
Guidance for conversion of traditional pre-1919 stone buildings.
Industrial heritage in the Ruhr
A marked difference to the fate of industrial landscapes in the UK.
Communities will be able to build their own clean energy.
Why diversity and inclusion matters for SMEs
CIOB’s D&I Charter shows how practical changes can support long-term growth.
Cut electricity bills to power growth
Coalition sends joint letter to the Chancellor.
Gasholders: a history in pictures. Book review.
Recognition, influence and growth
SocEnv identifies three strategic pillars in new strategy to 2045.
Discover the future of roofing, cladding and insulation.
New guidance for professional practice, cultural change and regulation in social housing.