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N.I.T. No. 420/tender/RMC/2016Rewa, Dated : 19/10/2016 SECTION1 NOTICE INVITING ETENDERSOnline percentage rate bids for the following works are invited from the Contractors registered in centralized
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How to fill out probable amount of contract

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To fill out the probable amount of a contract, follow these steps:
02
Read the contract thoroughly to understand the scope of work and deliverables.
03
Identify the different cost components involved, such as labor, materials, equipment, and overheads.
04
Estimate the quantity or units required for each cost component.
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Determine the unit price or cost per unit for each component.
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Multiply the quantity or units by the unit cost for each component to calculate the subtotal.
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Add up all the subtotals to obtain the total probable amount of the contract.
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Include any taxes or additional charges, if applicable.
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Document the probable amount clearly in the designated field or section of the contract.
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Review and double-check the calculations to ensure accuracy.
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Seek legal or financial advice if necessary before finalizing the probable amount on the contract.

Who needs probable amount of contract?

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Several parties may need the probable amount of a contract, including:
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Probable amount of contract is the estimated value of a contract. It helps in determining the financial impact and feasibility of the project.
The contracting parties involved in the agreement are required to file the probable amount of contract.
You can fill out the probable amount of contract by estimating the total cost of the project including labor, materials, and other expenses.
The purpose of probable amount of contract is to provide transparency and clarity on the financial aspects of the project.
The probable amount of contract should include details on all anticipated costs and expenses related to the project.
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