Contractor schedule of values
A detailed breakdown of specific work items on a subcontract or purchase order to an upstream contractor.
A contractor schedule of values is a detailed list that allocates the total contract amount to various parts of the project. It serves as a basis for progress payments and helps in monitoring project financials, ensuring that payments are linked to actual work completed.
Used in a sentence
The contractor schedule of values breaks down the project cost into individual work components.
Synonyms/variation
SOV
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