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Order of Cost Estimate
Order of Cost Estimates are for when you are starting out on your development. The purpose of an order of cost estimate is to establish whether the proposed building project is affordable and, if so, to establish a realistic cost limit for the building work. The cost limit is the maximum expenditure that the Employer is prepared to make in relation to the completed building project.
Cost Plan
Cost Planning is undertaken in accordance with the New Rules of Measurement 1 (2021).
There are three levels of cost plan available depending upon the stage that the project has reached and the level of detail available.
Bills of Quantities
The New Rules of Measurement 2 (NRM2) published by The Royal Institution of Chartered Surveyors in October 2021, provides standard detailed rules for the measurement and description of building works. Bills of Quantities may be firm to obtain a lump sum price for fully designed work or approximate for obtaining sub-contract prices.
Tender Document Package
A Tender Document Package provides a basis for the obtaining of competitive tenders from Contractors or Sub-Contractors. The scope of works and basis of contract is clearly defined and tenders received are consistent, comparable and can be utilised for subsequent cost control measures.
Tender Return Review Report
A careful assessment of tenders received is needed to ensure that prices are comparable and that all qualifications and clarifications have been addressed.
Interim Valuation
The Housing Grants, Construction and Regeneration Act 1996 (as amended) stipulates that interim or stage payments are due to any party to a construction contract that has a duration of more than 45 days. In the absence of specific requirements in the building contract default provisions apply.
Variation Assessment
Instructions and variations may alter the nature or scope of the work by providing for additional, varied or less work. Almost all building contracts experiences variations. Mensura reviews the original contract drawings and specifications and the proposed or actual changes and values these in accordance with the agreed terms and conditions of contract.
Financial Statement/Cost Report
Preparing regular financial statements is a key means of keeping the Client informed of the financial health of a project. We collate all the variation information together with anticipated changes to show the estimated final cost of the project each month. This is balanced back to the approved budget by adjusting the available contingency.
Loss and Expense Ascertainment
Construction contracts usually provide for the Contractor to claim direct loss and/or expense as a result of progress of the works being affected by matters for which the Client is responsible. This might include delays in instructions, discrepancies in contract documents, instructions relating to variations, expenditure of provisional sums and so on.
For projects where single loss and expense claim or the aggregate of loss and expense claims is likely to exceed £100k please contact us for a quotation.
Final Account
Final account statements signify the full and final settlement of projects cost between the Employer and Main Contractor. Agreement of the Final Account triggers the Final Account Statement and ultimately enables the Contract Administrator to issue the Final Certificate.
Conditions of Contract (TC1)
Mensura has developed a series of Trade Contracts for use by SME Developers, Contractors and Sub-Contractors. These are simplified terms and conditions suitable for use when there would ordinarily be no written terms. Disclaimer: These contracts are provided "as-is" and are not a substitute for proper and adequate legal advice when entering into contractual relations. Mensura Limited (and its Principals, Directors, staff and consultants) offer these Terms and Conditions as consultants and not as lawyers. If in doubt, please consult your legal or contracts adviser,
Fixed Cost Adjudication Scheme
Decision makers frequently decide not to adjudicate as they are concerned about the costs involved in adjudicating a dispute. Our Fixed Price Adjudication Scheme seeks to address and resolve those concerns by providing decision makers, whether you are a Referring Party or a Responding Party, with access to specialists and the extra benefits of cost certainty.
Expert Witness Services
Our Expert Witness service provides construction related reports for both liability and quantum to claimant and defendant solicitors and insurers.
Should your project require or is likely to proceed to a formal hearing, we can provide expert report and testimony on construction related matters.
Nominate an Adjudicator
Under UK law (The Construction Act) most disputes arising out of commercial building contracts can be referred to the decision of an independent adjudicator. In recent years adjudication has evolved into a complex, legal, procedure that places increasing demands on time, resources and money to the extent that many SME business feel it is now too complicated and costly to use. Our Adjudicator services provide a procedural framework that is simple and cost effective to use where the amount claimed is less than £500,000.
Independent Monitoring Surveying Services
The role of the Lender's Independent Monitoring Surveyor is a specialist service. It requires experienced and skilled professionals who understand the Lender's perspective and requirements. Accurate risk assessment is paramount to how Lender's will regard each funding proposal and a full appreciation of all the costs associated with an appraisal.
Home Survey
The home survey survey is intended for clients (buyers, vendors and owners) seeking a professional and objective report on the condition of the property at an economic price. Reports are available at RICS Level 1, Level 2 and Level 3.
