What are the implications if the final price of the works exceeds the tender sum returned?
Best advice is to follow a formal specification and tender process, inviting owners to nominate contractors and to nominate a place where tenders can be inspected. The Contract Administrator’s job is to try to bring the contract in on budget, he or she should make an allowance within the contract for reasonably foreseeable works that cannot be quantified before scaffolding is erected. Each situation is a matter of fact and degree.
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Valuation Services provided by Ringley's Valuation Team
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Meet our Expert Property Commentators
What are the implications if the final price of the works exceeds the tender sum returned?
Best advice is to follow a formal specification and tender process, inviting owners to nominate contractors and to nominate a place where tenders can be inspected. The Contract Administrator’s job is to try to bring the contract in on budget, he or she should make an allowance within the contract for reasonably foreseeable works that cannot be quantified before scaffolding is erected. Each situation is a matter of fact and degree.
Valuation Services provided by The Ringley Group
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Meet our Expert Property Commentators
Mary-Anne Bowring FTPI FRICS FARLA FCABE Founder/Head of Asset Management
Strategic partnerships, holistic delivery/ opportunities, growth, value engineering, thought leadership
Ian Barber MD BTR Mobilisation & Leasing
Runs HQ & site lease-up teams. Drives rent pricing, mobilisation, marketing, happy residents!
Jon Curtis MRICS Head of Building Engineering
Chartered Building Surveyor. Lectures on EWS1 & building safety. Runs CapEx programmes.
Kate Robinson MTPI MD Blocks/FM Management (London Region)
Master plan setup, ops and staffing and resident engagement. ISO45001 champion.
Lee Harle Partner Ringley Law
Plot conveyancing. Debt litigation. Group Company Secretary.
Anthony Kingdon MIRPM AssocRICS MD Blocks/FM Management (North Region)
Stakeholder engagement. Mixed tenure specialist. Budget management. Plant audit, PPM compliance.
Chris Georgalis MRICS Head of Commercial Valuation
Chartered Valuer. Rental valuations: retail, leisure. IRR modelling and valuations for secured lending. Compulsory purchase & rent reviews
Nichola Pughe MRICS Head of Residential Valuation
Chartered Valuer. Rental development & mixed use valuations, IRR modelling. Leasehold enfranchisement specialist
Natalie Birmingham Helpdesk Support Manager
Trainer & Helpdesk Manager: people, systems,contractors. ISO45001 supply chain accreditation.
Steve Norman Planning Director
Land due diligence (opportunities & constraints) Has contributed to a number of award winning schemes.
