LUMP SUM DOCUMENT definition

LUMP SUM DOCUMENT means the document providing the lump sum amount priced by the contractor to reflect the contract sum and is based upon the contract documents where bills of quantities are not used. Such document may include the Preliminaries and a schedule of rates drawn up according to the Standard System of Measuring Building Work or other measuring system as stated in the schedule.
Sample 1Sample 2Sample 3
LUMP SUM DOCUMENT means the document providing the lump sum amount priced by the contractor to reflect the contract sum and is based on the contract documents where bills of quantities are not used. Such a document may include the JBCC Preliminaries and a schedule of rates drawn up according to the measuring system as stated in the schedule In edition 5.0 (Reprint 1) of July 2007 the definition was left out and reference to ‘lump sum’ contracts appeared under The Agreement Structure where it is stated “The Agreement, in catering for both bills of quantities and lump sum contracts, brings about …” No reference to ‘lump sum’ contracts is made in edition 6.2 of May 2018 INTERPRETATION The definition cited above is not correct as, strictly speaking, the term “lump sum” refers to building contracts where it is the employer’s obligation to pay the contractor for the works as properly executed. Thus, whether the price tendered by the contractor has been used on a set of drawings or on bills of quantities, the contract is for a “lump sum” contract. However, confusion has existed for a long time already what exactly the difference is between ‘bills of quantities’ contracts, ‘lump sum’ contracts or ‘fixed price’ contracts. There is in fact no distinction between ‘bills of quantities’ and ‘lump sum’ contracts as they mean the same thing. Xxxxxx’x book: The building Contract – A Commentary on the JBCC Agreements – Third Edition (Footnote 6, 2018: 20) confirms this view by pointing out that: It is a common misconception that the term ‘lump sum contract’ refers only to those contracts where bills of quantities are not employed. This is not so; the term applies to all contracts where the tenderer quotes an all-inclusive price for carrying out the full extent of the works, regardless of whether he was provided with bills of quantities for pricing the work or not, as distinct from cost-plus contracts or contracts based on schedules of rates, where the cost is only capable of being determined when the work is complete However, a clear distinction can be made between ‘bills of quantities’ / ‘lump sum’ contracts and ‘fixed price’ contracts as detailed below: BILLS OF QUANTITIES / LUMP SUM CONTRACTS • The contractor tenders a single predetermined lump sum amount for the erection and completion of the works in terms of the tender requirements • The tender may be based on: o Bills of quantities and preliminaries o Drawings and specifications only • The tenderer, in compiling his tender, makes pro...
Sample 1

Examples of LUMP SUM DOCUMENT in a sentence

  • PART C2 : PRICING DATA C2.1 Pricing Instructions C2.2 Bills of Quantities REPAIRS AND RENOVATIONS TO PORT ELIZABETH REGIONAL OFFICES C2.1 : PRICING INSTRUCTIONS C2.1.1 BILLS OF QUANTITIES / LUMP SUM DOCUMENT C2.1.1.1 The bills of quantities forms part of and must be read and priced in conjunction with all the other documents forming part of the contract documents, the Standard Conditions of Tender, Conditions of Contract, Specifications, Drawings and all other relevant documentation.

  • BILLS OF QUANTITIES / LUMP SUM DOCUMENT (PART OF VOLUME 2) The bills of quantities / lump sum document forms part of and must be read and priced in conjunction with all the other documents forming part of the contract documents, the Standard Conditions of Tender, Conditions of Contract, Specifications, Drawings and all other relevant documentation.

Related to LUMP SUM DOCUMENT

  • RfS Document means the bidding document issued by MSEDCL including all attachments, clarifications and amendments thereof.

  • Plan Document means any of the documents, other than this Plan, to be executed, delivered, assumed, or performed in connection with the occurrence of the Effective Date, including the documents to be included in the Plan Supplement, all of which shall be in form and substance as provided herein and reasonably acceptable to the Debtors and Plan Sponsor.

  • Filed document means a document filed with the Secretary of State under any provision of this Title except chapter 15 or section 1621; and

  • Contract Document means collectively the e-Tender documents, designs, drawings, specifications, agreed variations, if any and such other documents constituting the e-Tender and acceptance thereof.

  • scheduled agreement means the agreement of which a copy is set out in Schedule 1;

  • Acceptance Test Document means a document, which defines procedures for testing the functioning of installed system. The document will be finalized with the contractor within 7 days of issuance of the Letter of Award.

  • Equivalent e-document means an electronic equivalent of a document, issued by the issuing authority of such document with its valid digital signature including documents issued to the digital locker account of the client as per rule 9 of the Information Technology (Preservation and Retention of Information by Intermediaries Providing Digital Locker Facilities) Rules, 2016.

  • Policy Document means this Policy wording the Schedule (which is attached to and forms part of this Policy and includes any Annexure or endorsement to it and, if more than one, then, the latest in time) and the Proposal Form.

  • Settlement Document shall have the meaning set forth in Section 2.02(a).

  • Transaction Document means any agreement, document, certificate or instrument delivered pursuant to or in connection with this Agreement or the transactions contemplated hereby.

  • ballot document means a ballot paper, internet voting record, telephone voting record or text voting record.

  • Program Documentation refers to the user manuals, help windows, readme files for the Services and any Oracle Software. You may access the documentation online at xxxx://xxxxxx.xxx/contracts or such other address specified by Oracle.

  • Order Document means any official Purchaser document and attachments thereto specifying the Software to be purchased from the Vendor under this Contract.

  • Subproject Agreement means any of the agreements referred to in Section 3.07 of this Agreement; and

  • Transfer Document means a document substantially in the form of Exhibit E to the Sale and Servicing Agreement.

  • Participant Documentation means the agreements (together with any applicable schedules, exhibits or appendices thereto required by BSEF) in form and substance acceptable to BSEF, that are required to be executed and delivered to BSEF before a Person may access the SEF operated by BSEF as a Participant. Participant Documentation shall not include DMA Customer Documentation.

  • Operative Document means a bond declaration, trust agreement, indenture, security

  • Termination Benefit means the benefit set forth in Article 7.

  • T E Document means Tender Enquiry Document

  • Individual contract plan means a subcontracting plan that covers the entire contract period (including option periods), applies to a specific contract, and has goals that are based on the offeror’s planned subcontracting in support of the specific contract, except that indirect costs incurred for common or joint purposes may be allocated on a prorated basis to the contract.

  • Plan Agreement means a written agreement, as may be amended from time to time, which is entered into by and between an Employer and a Participant. Each Plan Agreement executed by a Participant and the Participant’s Employer shall provide for the entire benefit to which such Participant is entitled under the Plan; should there be more than one Plan Agreement, the Plan Agreement bearing the latest date of acceptance by the Employer shall supersede all previous Plan Agreements in their entirety and shall govern such entitlement. The terms of any Plan Agreement may be different for any Participant, and any Plan Agreement may provide additional benefits not set forth in the Plan or limit the benefits otherwise provided under the Plan; provided, however, that any such additional benefits or benefit limitations must be agreed to by both the Employer and the Participant.

  • Service Document means a claim form, application notice, order, judgment or other document relating to any Proceedings;

  • Actuarial equivalent means a benefit of equal value when

  • Ancillary Agreement has the meaning set forth in the Separation Agreement.

  • Mandate Agreement means the mandate agreement entered into, on or about the date hereof between the Representative of the Covered Bondholders and the Guarantor.

  • Tender Document means the Document provided by a Purchaser to a Tenderer as a basis for preparation of its Tender;