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GROUP STANDARD BIDDING DOCUMENT WORKS Lump Sum BiddingDHI Group Standard Bidding Document for WorksTABLE OF CONTENTS SECTION I INSTRUCTIONS TO BIDDERs .......................................................................................
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How to fill out lump sum bidding
How to fill out lump sum bidding
01
Determine the scope of work to be completed under the lump sum bid.
02
Create a detailed breakdown of all the tasks and materials required for the project.
03
Calculate the total cost of all the items in the breakdown, including labor, materials, and any other expenses.
04
Add a contingency amount to the total cost to account for unexpected expenses or changes in the project.
05
Submit the lump sum bid to the client or project owner before the deadline.
Who needs lump sum bidding?
01
Contractors and construction companies looking to bid on fixed-price projects.
02
Clients or project owners who want a clear and specific cost for a project upfront.
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What is lump sum bidding?
Lump sum bidding is a procurement method where a contractor submits a single price for all the work required for a project, rather than providing itemized costs for different components.
Who is required to file lump sum bidding?
Typically, contractors or construction firms seeking to bid on public or private contracts are required to file lump sum bids.
How to fill out lump sum bidding?
To fill out a lump sum bidding form, contractors must provide detailed information about their proposed price, project scope, and compliance with specifications. It often includes signing and submitting the official bid form.
What is the purpose of lump sum bidding?
The purpose of lump sum bidding is to provide a straightforward method for project owners to evaluate bids based on a single price, which simplifies the bidding process and reduces the complexity of cost breakdowns.
What information must be reported on lump sum bidding?
Information that must be reported includes the total bid amount, a description of the work to be performed, any applicable licenses, and potential timelines for completion.
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