Time-related charges in construction
The New Rules of Measurement (NRM) are published by the Royal Institute of Chartered Surveyors (RICS). They provide a standard set of measurement rules for estimating, cost planning, procurement and whole-life costing for construction projects.
According to NRM2: Detailed measurement for building works, a 'time-related charge' is for work, the cost of which is to be considered dependent on duration.
This is as opposed to a 'fixed charge', which is for work, the cost of which is to be considered independent of duration.
Charges may be fixed, time-related, or a combination of both.
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