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 and news
Report on the construction sector in Ireland
TASC/CIOB study looks at post-pandemic struggles and trends.
Revised targets for Carbon Budget 6
The Government announces recalibrated goals.
ECA proposes strategies for the present and the future.
Paul Morrell to lead independent review of the construction products testing regime.
Standard will help employers foster wellbeing and manage psychosocial risks.
The United Nations has approved the IFSS common principles
Global fire standards for safety of people and property.
An introduction to the 5 core principles of lean.
Civil engineers and environmental methods of construction
Can the profession use its skills to save the world from climate change?
How faulty science resulted in sanitation reform.
Conserving the Hilda Besse Building
Improving facilities, accessibility and overall appearance.
BSRIA IAQ topic guide published
Free download of TG 12/2021 available.
Electrotechincal mentors wanted
TESP works with The Youth Group to form skill sharing network.
OpenBuilt supply chain technology in development
Big tech collaborates on platform for the built environment.
Concerns raised over Future Buildings Standard
Letter signed by 21 organisations sent to MHCLG.
Receive the Designing Buildings newsletter
Click the button to subscribe.