We will be starting a new class soon on Electrical Estimating. Let us know if interested in joining.
Just a few things not to forget!
Electrical Specifications:
Very important.
Reading the specifications will determine your scope of work and what your bid price is based upon. It is important that the General Conditions of the specifications be read thoroughly. Items of importance will include:
The Bid Form
- This is the when , where and how,
- You must follow the instructions.
- Are there any alternates?
- How to fill out the bid form.
Sales Tax Requirements
- Is this project exempt from sales tax?
Allowances
- Should any cash allowances be included in the bid price?
- Utility fees?
- Special insurance?
- Limits on change orders etc.
Retainage
- This may vary from 10% through completion, from 10% to 5% after the job is half complete, or 10% to 0% after the job is half complete.
Temporary Power
- Who furnishes the temporary power?
- Who pays for the temporary power consumed?
Progress Reports and Photographs
Will you work through Procore?
Bid Bonds, Security Deposits and Performance Bonds
Minority Clauses and Requirements
Construction Time and Liquidated Damages
Owner Furnished Equipment
Change Orders and Extras
Job Close Out
Once this list has been established, each category can be defined by using a simple code. For example:
FBE = Furnished by Electric
IBE = Installed by Electric
FBO = Furnished by Others
IBO = Installed by Others
Also don’t forget indirect cost.
We will talk about that next time.
