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cost of works "cost of works" means the total cost to the client, however incurred, of the builders and specialist or sub-contractors works, services, installations and equipment designed, specified or allowed for and forming an integral part of the total project to enable it to function fully and occupied up to its intended standards of comfort, convenience, decor and finishes and including any payments (before deduction of any liquidated damages or penalties payable by the contractor to the client) made by the client to the contractor by way of bonus, incentive or ex-gratia payments or in settlement of claims; a fair valuation of any labour, materials, manufactured goods, machinery or other facilities provided by the client, and of the full benefit accruing to the contractor from the use of construction plant and equipment belonging to the client which the client has required to be used in the execution of the works; the market value, as if purchased new, of any second-hand materials, manufactured goods and machinery incorporated in the works; price variations arising from escalation of prices; but shall not include operating equipment or machinery that are not an integral or essential part of the building, administrative expenses, costs incurred by the client under the agreement between the client and the Architect, interest on capital employed during construction, and the cost of raising money required for carrying out the construction of the works, cost of land and way leaves. The cost of works shall be arrived at as follows: (a) for completed works, the total final cost of all works including variations or the original contract sum whichever is the greater; (b) for works tendered but not awarded, the lowest acceptable tender received less contingency sum, prime cost, or provisional sums for which no design work has been undertaken; and (c) for works where tenders have not been received, the latest estimate of cost prepared by the client;
PU(A) 333/1986 - ARCHITECTS (SCALE OF MINIMUM FEES) RULES 1986
3. Interpretation. |
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cost of works "cost of works" means the total cost to the client, however incurred, of all the contractors and specialist works, services, installations and equipment designed, specified or allowed for and forming an integral part of the total project to enable the project to be completed and occupied to its intended standards of comfort, convenience, decor and finishes, and includes:- (a) any payment (before deduction of any liquidated and ascertained damages or penalties payable by the contractor to the client) made by the client to the contractor by way of bonuses, incentives or ex-gratia payments, or in settlement of claims; (b) a fair valuation of any labour, materials, manufactured goods, machinery or other facilities provided by the client; (c) the full benefit accruing to the contractor from the use of construction plant and equipment belonging to the client which the client has required to be used in the execution of the works; (d) the market value, as if purchased new, of any second-hand materials, manufactured goods and machinery incorporated in the works; and (e) price variations arising from the escalation of prices, but shall not include:- (A) operating equipment or machinery that are not an integral or essential part of the building; (B) administrative expenses by the client; (C) costs incurred by the client under an agreement between the client and the architectural consultancy practice; (D) interest on capital employed during construction; (E) the cost of raising money required for carrying out the construction of the works; and (F) the cost of land and way leaves;
PU(A) 053/2010 - ARCHITECTS (SCALE OF MINIMUM FEES) RULES 2010
2. Interpretation |