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What are the costs of procurement and who bears them?

Hillebrandt, P. M. and Hughes, W. ORCID: (2000) What are the costs of procurement and who bears them? In: 2nd Int. Conf on Construction in Developing Countries, 15-17 November 2000, Gaborone, Botswana..

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The costs of procurement are transaction costs which are separate from the direct costs of a project. In this paper discussion is concentrated on costs of tendering. Types of cost, including money costs and opportunity costs, short-term and long-term costs, private and social costs are defined and examined in relation to various types of product and methods of procurement. The costs of the contractor and of the client are considered and tentative conclusions drawn as to who bears these costs in the short-run and in the long run. They may fall on the parties to the process for the particular project, on other contractors and clients or on society as a whole.

Item Type:Conference or Workshop Item (Paper)
Divisions:Science > School of the Built Environment > Organisation, People and Technology group
ID Code:4297
Uncontrolled Keywords:cost of estimating; client; contractor; construction industry; procurement
Publisher:Botswana National Construction Industry Council in association with Faculty of Engineering and Technology, University of Botswana.


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