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W5PROCUREMENT OF CIVIL WORKS THROUGH REQUEST FOR QUOTATION (RFQ)/SHOPPING PROCEDURES (Lump sum and percentage rate tender) (Envelope with procurement) (For Contracts valued less than the equivalent

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How to fill out cost estimates and tenders

01

Gather all necessary information such as materials, labor costs, overhead costs, and profit margins.

02

Break down the project into individual tasks or components.

03

Estimate the quantity of materials and labor required for each task.

04

Calculate the cost of materials by sourcing quotes from suppliers.

05

Determine the labor costs by calculating the hours needed for each task and the hourly rate of the workers.

06

Add overhead costs such as equipment rental, utilities, and insurance.

07

Factor in profit margins to ensure a competitive yet profitable bid.

08

Present the cost estimate and tender in a clear and organized manner.

Who needs cost estimates and tenders?

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Subcontractors

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What is cost estimates and tenders?

Cost estimates and tenders are formal documents in which the costs of a project are estimated and bids are submitted by contractors for the completion of the project.

Who is required to file cost estimates and tenders?

Contractors, suppliers, or vendors who are interested in bidding on a project are required to file cost estimates and tenders.

How to fill out cost estimates and tenders?

To fill out cost estimates and tenders, contractors need to provide detailed information about the costs associated with the project, including labor, materials, and any other expenses.

What is the purpose of cost estimates and tenders?

The purpose of cost estimates and tenders is to determine the most cost-effective proposal for the completion of a project.

What information must be reported on cost estimates and tenders?

Cost estimates and tenders must include detailed breakdowns of costs, timelines for completion, and any other relevant information related to the project.

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