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In the construction industry, an allowance may be an amount allocated to a specific item of work as part of an overall contract. The person providing the allowance usually tries to control how or when money is spent by the recipient so that it meets the aims of the person providing the money.
A Allocation of costs is the transfer of costs from one cost item to one or more other cost items. Allowance - a value in an estimate to cover the cost of known but not yet fully defined work. As-sold estimate - the estimate which matches the agreed items and price for the project scope. B Basis of estimate (BOE) - a document which describes the scope basis, pricing basis, methods ...
an allowance is a planned deviation from the nominal or theoretical dimension. In other words, it is an intended difference between the maximum material conditions of mating parts. [ 1 ]
The contingency allowance is designed to cover items of cost which are not known exactly at the time of the estimate but which will occur on a statistical basis." [ 1 ] The cost contingency which is included in a cost estimate , bid, or budget may be classified as to its general purpose, that is what it is intended to provide for.
Allowance may refer to: Allowance (engineering), a planned deviation between two dimensions; Allowance (money), an amount of money given at regular intervals for a specific purpose; Allowance for bad debts in accounting; Carbon emission trading as an economic tool in climate change mitigation Emissions trading for pollutants in general
The NEC Engineering and Construction Contract, introduced in 1993, has no allowance for retentions in its core clauses. The basic contract relies on the spirit of collaboration between parties to minimise defects, but retentions can be, and often are, introduced by clients through variant clauses (so-called "x clauses").
Each tax allowance you claim on your W-4 reduces the amount of your paycheck subject to income tax withholding. ... meaning you’ll only owe a little or get a small refund when you file your taxes.
For all other contract types combined the relative ranking is reversed to the original cost-plus order, meaning that products are most numerous, followed by service and research. With cost-plus contracting being designed primarily for research and development, cost plus contracts were used in many different efforts unrelated to research and ...