# What are scheduled rates?

## What are scheduled rates?

: an insurance merit rating derived from an analysis of the physical characteristics of a risk according to a schedule of charges and credits.

## How do you create a rate schedule?

Important Points to be remembered: The schedule of rates consists of groups of items such as demolishing items, excavation items, concrete items, RCC works, brickwork items etc. and also information regarding the present wages of labour and prices of different items, is given in it.

Is a bill of quantities the same as a schedule of rates?

The decision about whether to use a bill of quantities (BoQ) or a schedule of rates depends on the nature of the project as well as the chosen procurement route. Both can be used to obtain prices from contractors and for valuing variations.

### What is the difference between schedule of works and bill of quantities?

Schedule of Works differ from traditional bills of quantities as each description in the list of the works required is priced as an ‘item’ rather than a quantity. By producing a pricing schedule in this way, the contractor is deemed to have allowed for the quantity required to fulfil the contract requirements.

### What is basic rate schedule?

A schedule of rates is a table of rates for specific activities that can be used to negotiate commercial terms when the broad activities are known but not the precise quantities.

What is sor in tender?

CORE/S/ Due on. Rates and other details are required to be filled in this form by the tenderer.

## How are bill of quantities calculated?

What Does a BOQ Include?

1. The quantity of work for each list item and the measurement unit.
2. The unit price of each item, which is calculated by each of the bidding contractors.
3. The total price of each list item, which is calculated by multiplying the amount of work and the unit price.

## What are the types of bill of quantity?

Height.

• Complex number.
• Euclidean geometry.
• Buckling.
• When should you use a bill of quantities?

Bills of quantities are most useful to the contractor when they are prepared in work sections that reflect likely sub-contract packages. This makes it easier for the contractor to obtain prices from sub-contractors and is more likely to result in an accurate and competitive price.

### What are the advantages of bill of quantities?

A BoQ helps contractors produce an accurate and fair tender. Having this as a standard document ensures that competing contractors price the items of work on the same basis. Thus, reducing the risk of ambiguity through, addendums, omissions or misunderstandings.

### Why do we schedule rates?

A schedule of rates is a table of rates for specific activities that can be used to negotiate commercial terms when the broad activities are known but not the precise quantities. Schedule of rates contracts lend themselves to be used in two different situations.

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