Question: What Does PC Mean On An Invoice?

What is PC construction?

Practical Completion, often referred to as “PC”, is considered to mean the building is finished to a state where it can be put to its intended use, but small or minor defects may still be present.

Practical Completion has significant implications under the Standard Building Contract..

What are bathroom PC items?

A PC item is an amount of money included in a contract sum to purchase a specified item such as tiles, taps, doors or bathroom fittings. An agreed estimated amount is included at contract signing but the specific products are not selected until a later stage.

What does bot of mean in an invoice?

Used on transaction slips to indicate the side of a trade in which securities are bought.

What does POS mean in construction?

point of saleDefinition of POS (point of sale) in Construction.

What does PC sum mean on a quote?

The PC Sum, or Prime Cost Sum, mostly refers to the costs of fixtures and fittings. Your house will need taps, doors, handles, flooring etc and if you’ve ever gone shopping for any of these you would have noticed a large difference in their prices.

What is the difference between prime cost and provisional sum?

Traditionally, a prime cost is limited to the cost of supplying the relevant item, and does not include the cost of any work that relates to it (such as its installation). In contrast, provisional sums include allowances for both the supply item and all related work to be performed by the contractor.

What are prime cost items?

A prime cost item is an allowance in the contract for the supply of necessary items not yet finally selected, for example taps or door furniture.

What are preliminary costs?

Preliminary costs are expenses that will be incurred during construction, which are directly related to the running of the project and have not been included in the materials, labour or overheads. … Preliminary costs apply to all projects including those with small tender values.

What does PC price mean?

Prime Cost sums in construction (PC or PC sums) is a sum in the contract to provide an idea of the basic cost/price of some material or items for pricing the tender.

What does C O mean in invoice?

Care/OfC/O stands for Care/Of. C/O can be used on invoices, bills, and contract terms. It alludes to who needs to be addressed in the document. For example, if an invoice is for a company, you can put C/O to have it sent to a specific person like the head of the accounting department.

Does a provisional sum include margin?

Provisional Sums The actual amount that the relevant works cost, plus the builder’s margin, will replace the provisional sum. … If the works actually cost less than the provisional sum allowance, your contract price should reduce.

What is contingency sum?

A contingency sum is an amount of money, usually expressed as a percentage, included in the project budget to allow for the unknown or unresolved aspects of a design. It is usual for the initial allowance to be as much as 25% to 30%.

What is FOC invoice?

Related topics. The following describes the accounting transactions the system creates when you invoice a VAT based item when the FOC field on the sales order line is set to YES, i.e. your customer should not pay anything for the item on the invoice (free of charge).

What is a PC 1?

PC-1 is known as a planning tool for the development and execution of any projects in the Government Departments. Changes in the Planning Commission Proforma of PC-1 necessitated these training workshops.

What is Prime cost example?

The cost of labor and payroll taxes used directly in the production process are part of prime costs. Labor that is used to service and consult the production of goods is also included in prime costs. Direct labor examples might include assembly line workers, welders, carpenters, glass workers, painters, and cooks.

Is C o the same as ATTN?

A similar convention to “Attn” is “c/o,” which stands for “care of.” This marking is used to designate an intermediary who is responsible for delivering the mail to the intended recipient. For example, imagine you need to mail an envelope to John Smith, but only have the address for his mother Mary Smith.

What does PC date mean?

contractor’s planned completion dateThe ‘contractor’s planned completion date’ is the date shown on the contractor’s programme as being the date when the contractor plans to complete the works under the contract. This may be different to the contract completion date.