The Estimation of bid price or tender cost of a construction project is calculated as the sum of the total cost of construction and mark-up price. Total cost of construction project consists of direct cost and indirect costs for the ...
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3 Types of Tendering Methods in Construction
Three types of tendering methods are used in construction- open tendering, selective tendering, and negotiation. Tendering methods are selected based on requirements of construction works.
Preparing Contract (Tender) Documents for Construction Projects
A contract or tender document in construction industry is an agreement between two parties which they intend to be legally binding with respect to the obligations of each party to the other and their liabilities. The contract thus binds the ...