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Tender Document
The most usual forms of contract for constructional work are based on the used of Bills of Quantities as contract documents.
Bills of Quantities are the translation of the designer's drawings and specification into words and quantities. This enabled each contractor tendering to estimate his price on exactly the same basis as his competitors. Bills are prepared in accordance with methods of measurement in use throughout the building and civil engineering industries. This means that they are recognized and accepted by all concerned with construction work and they provide a tendering basis, which is fair and equitable to both parties to a building or engineering contract.
The Bills of Quantities are later used during the construction of a project to provide a basis for the financial management of the contract.
In certain circumstances, particularly where time is an important factor in the proposed development, or where work must commence before designs are completed, Bills of Approximate Quantities can be prepared. These will incorporate all necessary financial safeguards to the Client and provide a satisfactory basis for valuing the work as finally carried out.
Where other forms of tendering procedure are used Bills of Quantities may be in a modified form, or may be replaced by schedules of prices. The Quantity Surveyor can ensure that such documents are drafted in the form most suited to the circumstances.