Measured Contract
Definition
A measured contract (also called a re-measurement or measure and value contract) is a construction contract where the final price is determined by measuring the work actually carried out and applying agreed unit rates, rather than a fixed lump sum. The bill of quantities provides the rates, but quantities are re-measured on completion.
In construction tendering, this means...
Measured contracts are common for civil engineering and infrastructure projects where quantities are difficult to define accurately at tender stage (e.g., earthworks, piling, drainage). They transfer quantity risk to the client but leave rate risk with the contractor. For GCs, measured contracts require careful quantity tracking throughout the project.
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Understanding the terminology is step one. Takshy handles the rest, from extracting scope from project documents to sending structured RFQs and managing the returns.
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