Abortive works are kind of works which will not be part of the permanent works. Therefore abortive works are a additional cost to the project and it might cause delay the project. Therefore it is very important to minimize number of occurrences of abortive works. The following steps …
Abortive work is the works which are already carried out by the contractor, but those works shall not exist or no longer required to be in part of the permanent works. Therefore those works should be demolished or alter as per requirement. Abortive works could happen due to many …
Dubai Al maktoum airport - Dubai Estimated cost - 32 Billion US dollers Songdo international business district - The world's most futuristic urban area Will be in Soul, south korea Estimated Cost - 40 Billion US Dollars Nicaragua Grand canal project - In …
Management contracts is the type of procurement strategy where Employer appoint a professional team and a management contractor to manage the project. The management contractor does not involve in construction works directly. Instead he will manage the project and he distribute the …
- performing risk and value management and cost control; - advising on procurement strategy; - preparing tender and contract documents, including bills of quantities; - identifying, analysing and developing responses to commercial risks; …
LC - Letter of Credit Letter of Credit is a document which is used in business (Specially in foreign business). It is issued by the Bank guaranteeing that the seller will receive the payment once met the agreed delivery conditions. In case buyer unable to make payment to seller, th…
LOA - Letter of Acceptance Is a formal letter signed and issued by the Employer, of the letter of tender to the selected bidder. Letter of Acceptance shall include annexed memoranda comprising agreement between and signed by both parties.
LD - Liquidated Damages Liquidated Damages is a term used in the construction industry. It is a penalty to the Contractor for delaying the project beyond the completion date. Amount of penalty per day is mentioned in the Appendix to Tender ( Ex : particular conditions of contracts ).…
LOI - Letter of Intention It is a letter issued by the Employer to a tenderer that Employer suppose to award the tendered project that tender. The purpose of issuing such is to keep the tenderer aware about this Employers intention. As the tenderer, he can arrange necessary things to…
DAB - Dispute Adjudication Board Dispute adjudication board is a group of experts in the field consisting one or three members, who are mentioned in the Contact or nominated by other parties as per FIDIC 1999. clause No 20.2 and 20.3
PS - Provisional Sum Provisional sums are the sums listed under the Provisional Sums in contract document. Purpose of provisional sums is to execute any part of the works, supply material, plant or deliver services under the provisional sums.
LPO - Local Purchase Order It is a accountant document issued by a procurement department or division of the to local suppliers and sub contractor to order materials or request to provide sub contracting service.
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FF & E is a short term used in the construction industry. It stands for ; FF & E : Fittings, Fixtures and Equipment Under this category, it include all the fittings, fixture and equipment which are not permanently connected to the structure. This is the most important defi…
· Contractor's All risks insurance – This insures against physical damage to the works (and usually materials on site). All risks insurance typically covers the full reinstatement value of the works plus a mark up for any ancillary costs (such as consultancy and profession…
Once contractor awarded a project to do, he should mobilize in to the size to start work on it. Therefore in order to enter in to the site, The Contractor shall fulfill and submit performance bond and relevant insurances from the recognized financial institutes and should be accepta…
