Administration Provisional Sums and Prime Cost Sums

The term ‘provisional sum’ refers to an estimate in your builder’s contract for what it’ll cost do a particular part of your building or renovation job. Provisional sums are estimates that are provided where the builder can’t give an exact figure for the work required, after having made reasonable inquiries into what it’ll actually cost.

‘Prime cost’ refers to a set budget allocated for an item or set of items that need to be bought for the project. Taps are a great example – if there are no specified a particular brand, model and style of taps, or if it’s impossible to get an idea of the price for what you want, then you can allocate a certain amount of dollars for taps rather than specifying exact costs.

QSCC is assisting to their Clients for manage those funds effectively.