Last edited 09 Oct 2015

Tender sum for construction contracts

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The tender sum is the overall pricing figure proposed by a tendering contractor in accordance with the tender pricing document.

The objective of the tender pricing document is to:

Enable like for like comparison between tenders and the cost plan (pre-tender estimate).
Enable the cost consultant to assess where value lies within the different tenders (such as foundations or finishes) allowing assessment of value for money.
Identify any significant differences in pricing between tenderers to ensure the design has been correctly interpreted.
Identify areas of savings that might be negotiated with tenderers while still in competition.
Form the financial basis of the tender report.

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