"Quantity Surveying BSc Provide brief answers to the following: 1. What is a Provisional Sum and what is it likely to be used for? 2. What are Statutory Undertakers, and how are they incorporated into the bill of quantities? 3. What is the role of the building control officer? 4. What is selective tendering? 5. How does a cost reimbursement contract operate? 6. Name five standard forms of contract commonly used in the construction industry. 7. Provide brief definitions for the following: a. Contractors Design Portion b. Sectional Completion c. Practical Completion d. Partial possession e. Rectification Period f. Retention g. Liquidated damages h. Collateral warranty"

There is no single agreed definition of the term provisional sum. In general, from what I have researched it refers to a price for work that cannot be accurately specified to be included in the tender documentation. The parties do not try to price it accurately and simply include a provisional sum as their best guess. These sums once defined have to be adjusted into the final account. A building contracts treatment of provisional sums can have a profound impact on the overall cost and speed of a project. So provisional sums are a

great tool to get things moving, however, the more provisional sums in a contract the less cost certainty there is….(short extract)