Yes, Provisional Sum is an amount designated to the contigencies at time of Tendering whereas Prime Cost Sum means a sum designated to work to be executed by a nominated sub-contractor or for materials to be supplied by a supplier
If my equally hazy memory serves me correctly, a “Provisional Sum” is a sum that is provided for work or for costs that cannot be entirely foreseen, defined or detailed at the time of issuing the tender documents, whereas a “Prime Cost Sum” means a sum provided for work or services to be executed by a nominated sub-contractor or for materials or goods to be obtained from a nominated supplier.
[Source: - not my questionable memory, but taken from Hudson’s 10th Edition]
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22 years 4 monthsRE: Prime Cost v’s Provisional Sum
Yes, Provisional Sum is an amount designated to the contigencies at time of Tendering whereas Prime Cost Sum means a sum designated to work to be executed by a nominated sub-contractor or for materials to be supplied by a supplier
Member for
21 years 4 monthsRE: Prime Cost v’s Provisional Sum
Anthony,
If my equally hazy memory serves me correctly, a “Provisional Sum” is a sum that is provided for work or for costs that cannot be entirely foreseen, defined or detailed at the time of issuing the tender documents, whereas a “Prime Cost Sum” means a sum provided for work or services to be executed by a nominated sub-contractor or for materials or goods to be obtained from a nominated supplier.
[Source: - not my questionable memory, but taken from Hudson’s 10th Edition]
Hope this helps,
Stuart
www.rosmartin.com