Payment Certificate
A payment certificate is a document that confirms the amount due to a contractor for the work completed during a
Payment Terms
Payment terms are the agreed rules that govern when and how payment is made under a contract, whether between client
Planning Permission
Planning permission is the formal consent, granted by the local planning authority, that is needed before most new building work,
Price
Price is the amount of money one party pays another in return for goods, works or services. In construction, pricing
Procurement
Procurement is the process of acquiring the goods and services needed for a construction project. It involves identifying and selecting
Productivity
Productivity is the ratio of the output produced to the inputs needed to produce it, such as labour hours, plant
Profit
Profit in accounting is the difference between revenue and cost. In an estimate or tender, it is the allowance the
Profit Margin
Profit margin is a measure of profitability, calculated as profit expressed as a percentage of revenue (turnover). In construction it
Progress Payment
A progress payment is a payment made by the client to the contractor during the course of a construction project.
Project
A project is a temporary undertaking, with a defined start and finish, carried out to create a unique product, service
