Hi,
While discussing on LOI with some mates, this is another subject that prop up by one of them.
"Contract Sum or Sub Contract Sum is basically not remeasurable and the sum is the total that should be pay at the end while Tender Sum is subject to Remeasure"
At first, I thought he is right. I tried to look for a defination and distinction between the two but none of my text book gave any reference so that got me thinking.
Can anyone shed some light on the above?
Can anyone recommend a good reference book for all the difference construction contract words or phrase?
While discussing on LOI with some mates, this is another subject that prop up by one of them.
"Contract Sum or Sub Contract Sum is basically not remeasurable and the sum is the total that should be pay at the end while Tender Sum is subject to Remeasure"
At first, I thought he is right. I tried to look for a defination and distinction between the two but none of my text book gave any reference so that got me thinking.
Can anyone shed some light on the above?
Can anyone recommend a good reference book for all the difference construction contract words or phrase?