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What Does Unit Price Agreement Mean

By admin

Oct 14

This is called “measurement” and “remeasuration,” and unit-price contracts are often referred to as measurement contracts, dimensional and payment contracts, or revaluation contracts for this reason. Deviations from the estimated quantities are expected to result in a proportional increase or decrease in the contract price. Variations are essential in dredging contracts and can result in additional costs and significantly delay projects. So what`s the best way to get a fair assessment for variations in excavator contracts? In summary, unit price contracts are well designed for projects with familiar materials and repetitive work units. This type of contract results in efficient, competitive and compliant prices in the tender phase and a common risk for all parties involved. These are more difficult to estimate until work begins. (e.B. Geotechnical surveys are not great for measuring excavation/earthmoving requirements) This type of contract is suitable for large public works such as infrastructure projects that involve repetitive tasks and easily quantifiable resources. .

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