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-ESTIMATING & CONTRACT QUESTION 3 a) In the interim payment, the payment is...

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Accounting

-ESTIMATING & CONTRACT

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QUESTION 3 a) In the interim payment, the payment is based on evaluation of work done and material on site. Discuss the term of 'material on site' and prerequisite requirements for the payment. (10 Marks) (CLO2:PLO5:C2) b) The main objectives of a tendering procedure are to select suitable contractor for the project. Three (3) methods of tender are widely used in the industry. There are Open, Selective and Negotiation tender. i) Explain the Selective Tender. ii) Identify the common criteria the client look into in Selective Tender. (15 Marks) (CLO4:PLO5:C2) QUESTION 4

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