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02 Practice Management & Professionalism > Fees > Flashcards

Flashcards in Fees Deck (6)
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1
Q

What should you use to calculate percentage fees?

A

Total construction cost

2
Q

Name 5 key elements of agreeing a fee which should be considered.

A
  • read and understand scope of service
  • use BIM & collaborative working
  • invoice regularly
  • sign agreement based on RIBA appointment models
  • agree disbursements eg. Meeting numbers / travel
3
Q

Lump sum fees - name 3 things that should be considered

A
  • taking on responsibilities you are not being paid for can leave you uninsured
  • assess Design Responsibility Matrix as early as possible - additional fees can be sought for gaps in information
  • keep fee agreements up to date
4
Q

Time charges apply to both percentage and fixed fee agreements. What 2 items should be agreed relating to them?

A
  • whether client will pay overtime

- agree invoice frequency - end of month

5
Q

What should a fee letter contain? Name 6 items

A
  • fee + VAT + expenses
  • agreed hourly rates + expenses cap
  • summary terms and conditions including PII figure
  • expected payment time frame
  • state if fee letter is accepted as letter of appointment - full terms and conditions will be issued
  • services that are NOT included
6
Q

If the Architect is appointing subconsultants what should be agreed?

Once agreed this becomes the project budget and should be monitored in both time and cost.

A

Cash flow via Architects Appointment documents