Pc sum allowance definition
Prime Costs and Provisional Sums Prime Cost (PC) items and provisional sums (PS) are two items in a standard building contract which cause great confusion among homebuyers. Most building contracts are called fixed price contracts, but the final contract sum can vary due to fluctuations in PC and PS items.Prime Cost (PC) Sums, or Items, (as well as Provisional items, costs& quantities) can be used as allowances for items of work required and are to be included in the contract, but that are yet to be specified, identified, confirmed, quoted, fully determined or documented. pc sum allowance definition
While the expression PC sum wasnt defined, it is clear that the words of the contract clearly defined what the actual items were that had been provisionally costed, and what would happen if
Pc sum allowance definition free
PC Sum Prime Cost Item allowance this is an estimated allowance for the supply of an item, it is generally a reasonable alowance, and allows the builder to complete his quote to you even if you havent made all your final selections.
A prime cost sum (PC or PC sum) is an allowance, usually calculated by the cost consultant, for the supply of work or materials to be provided by a contractor or supplier that will be nominated by the client (that is, a supplier that is selected by the client to carry out an element of the works and imposed on the main contractor after the main contractor has been appointed).
There are few different things that can cause costs to blow out on building or renovation project but two of the most common culprits are prime cost (PC) and provisional sum (PS) allocations.
Last month Sarah Wray and I had the pleasure of meeting and talking to the members of the Southern Branch of the Auckland Masterbuilders. The meeting took place the night before Anzac day rather appropriately at the Papakura RSA.
A provisional sum is an allowance in the contract for the cost of foreseeable necessary work, including the supply of materials not fully described or detailed at the time that the contract commenced, for example joinery items or a service connection.
Apr 07, 2012 A PC SUM is an allowance made by an Architect or a builder in the price for a specialist contractor or specialist supplier. In most cases a PC SUM is allowed for electrics, plumbing, heating, kitchens, Windows etc etc.
PC Sum or otherwise referred to as Prime Cost Sum reflects the material allowance being made in the rate for a specific item. A quoted rate normally consists
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