Define: Prime Cost Sum
Prime Cost Sum means a specified sum in the contract designated to cover the cost of work, services, goods, or materials delivered by the contractor
Prime Cost Sum means a specified sum in the contract designated to cover the cost of work, services, goods, or materials delivered by the contractor.
Relevant Circumstances
- When a contractor is delivering specific work, services, goods or materials.
- For agreements where costs can't be determined upfront.
- For contracts where budget mapping is critical.
Relevant Sectors
- Construction
- Manufacturing
- Engineering