Some vital points required for construction bid formation

CAREFUL STUDY OF THE CONTRACT DOCUMENTS: The contract documents which are provided to the contractor or delivered for his inspection comprise of general contract conditions, drawings, specifications, bills of quantities etc.

These documents should have been examined cautiously to ensure whether there are any unusual conditions, specifications as well as any feature of the work which should be taken into consideration throughout pricing.

Sub-contractor’s work: Make relevant quarries about prices with sub-contractors and material suppliers for their relative segments of the job.

Site visit: It is vital to determine the conditions under which the work should have been accomplished and their effect on pricing.

a. Complexity to get entry to the site
b. Restricted space on the site for vehicle movements
c. Type of soil and density of water table
d. Accommodation for space for preserving materials on site
e. Accessibility of materials, their sources and existing market prices
f. Local resources of skilled and unskilled labor, current wages for workmen
g. Source and cost of water required for construction
h. Power and lighting source, and the cost of arranging, preserving and serving power connection to the site.

TIME FOR COMPLETION: The bidder then works out the time period for executing the work and the number and category of permanent staff suitable for the nature of the work for construction management. It facilitates to compute the establishment charges.

TEMPORARY WORKS: The value of any temporary works required to set up the construction and to dispose of on finishing like temporary office necessary for construction management purpose, lay up sheds for building materials, access road, water supply, depreciation of construction equipments, insurances, taxes, etc.

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Some vital points required for construction bid formation