sum of money in the final account

modification to the contract sum (3.5.32) to allow for increases or decreases in the cost (3.6.1) of labour (3.7.23), plant, and materials occurring during the currency of the contract (3.1.2) using a price variation formula (3.5.46)

surrender possession of the construction works to the client (3.7.2) upon completion (3.5.23) with or without reservation

contractor (10.5) who sub-contracts part of their contract (3.7)

period defined in the contract (3.1.2) generally after completion (3.5.23), during which the contractor (3.7.6) has an obligation to make good inadequacies and shortcomings in the materials and workmanship covered by the contract that are indicated by the client (3.7.2) or his representative

supplier (3.7.30) selected by a client (3.7.2) or his representative

The Payment Certifier is the person or entity identified as such in the Agreement responsible for the issuance of certificates for payment.

stage (3.3.11) covering events up to the point when a contract (3.1.2) is placed

The process in which an owner, based upon financial, management and other qualitative data, determines whether a firm is qualified to compete for a project or class of projects (prequalification should be distinguished from short-listing).

formula for amending contract (3.1.2) price (3.6.5) as a function of the variation in certain indices or parameters