Question

work uncertified is valued at ____
a. market price
b. cost
c. cost or market price, whichever is less
d. cost or market price, whichever is higher​

Answer 1

Answer:

Work certified is valued at contract price (i.e , selling price), and includes an element of profit. Work Uncertified. This is that part of the work-in-progress which is not approved by the architect or engineer. This is valued at cost and thus does not include an element of profit.

Answer 2

We need to answer that the work uncertified is valued at what rate

• Work uncertified is calculated at cost
• The correct option is B
• Work certified is work that has been completed and approved and is hence calculated at the contract price and some profit may be added to it

• Work uncertified can be defined as work in progress or work not yet completed or approved.
• Work that has not received approval from the contractor or engineer is also known as work uncertified.
• In such cases, the work is calculated at cost and no profit amount is added
• However, some retention money may be kept by the employer