Schedule of tender adjustments
The contract documents for the construction of a built asset may include a schedule of tender adjustments or clarifications. These are adjustments to the tenderer’s prices negotiated and agreed after the receipt of tenders but before signing the contract.
Contractors may want to make tender adjustments because of risk elements, last-minute changes in pricing policy, working methods, and so on. These are usually covered by a lump sum, calculated and inserted in the preliminaries or elsewhere in the bill of quantities.
Some contracts will also allow for adjustment of the contract sum after the contract has been signed, because of variations, fluctuations, prime cost sums and so on. See contract sum for more information.
[edit] Related articles on Designing Buildings Wiki
Featured articles and news
The act of preservation may sometimes be futile.
Twas the site before Christmas...
A rhyme for the industry and a thankyou to our supporters.
Plumbing and heating systems in schools
New apprentice pay rates coming into effect in the new year
Addressing the impact of recent national minimum wage changes.
EBSSA support for the new industry competence structure
The Engineering and Building Services Skills Authority, in working group 2.
Notes from BSRIA Sustainable Futures briefing
From carbon down to the all important customer: Redefining Retrofit for Net Zero Living.
Principal Designer: A New Opportunity for Architects
ACA launches a Principal Designer Register for architects.
A new government plan for housing and nature recovery
Exploring a new housing and infrastructure nature recovery framework.
Leveraging technology to enhance prospects for students
A case study on the significance of the Autodesk Revit certification.
Fundamental Review of Building Regulations Guidance
Announced during commons debate on the Grenfell Inquiry Phase 2 report.
CIAT responds to the updated National Planning Policy Framework
With key changes in the revised NPPF outlined.
Councils and communities highlighted for delivery of common-sense housing in planning overhaul
As government follows up with mandatory housing targets.