WHY CHOOSE A MEASURED TERM CONTRACT (MTC) FOR YOUR CONSTRUCTION PROJECTS?

WHY CHOOSE A MEASURED TERM CONTRACT (MTC) FOR YOUR CONSTRUCTION PROJECTS?

Warrington-based Keelagher Okey Klein (KOK) are experienced, RICS regulated, Chartered Quantity Surveyors who’ve worked with a wide range of commercial, governmental, local authority and NHS clients in the North West and across the UK.

 

More and more of KOK’s clients are choosing to work on a measured term contract (MTC). Here’s why:

Warrington-based Keelagher Okey Klein (KOK) are experienced, RICS regulated, Chartered Quantity Surveyors who’ve worked with a wide range of commercial, governmental, local authority and NHS clients in the North West and across the UK.

 

More and more of KOK’s clients are choosing to work on a measured term contract (MTC). Here’s why:

 

What is a measured term contract?

An MTC is a contract with a contractor to provide construction work for a given period of time. MTCs typically last for three years, but can be extended if required and may concentrate on refurbishment, repair, alteration and minor extension works.

 

Financial benefits of an MTC

Because you’re using one supplier for all jobs, all costs can be predicted and standardised. This makes it easier for you to budget for the length of the term, which reduces the likelihood of any unexpected costs driving you over-budget. MTCs are a great way of budgeting for construction projects of all sizes and can include provisions for refurbishments and repairs. Using a Quantity Surveyor like KOK who are well versed in MTC, you are assured that costs will be maintained within budget.

 

Increased transparency and efficiency when planning construction projects

Measured term contracts have copious benefits when it comes to planning and scheduling multiple projects. For example, when ordering work from the term contractor, each project can be given a priority rating, which not only helps KOK provide an accurate estimate for your work but also gives you an overview of when each project will commence, how long it will take and the costs involved, which is a huge asset when planning both budgets and timescales.

 

No need to put each job out to tender with an MTC

As you’ll have only one provider carrying out your construction work under an MTC, this negates the need to put each individual project out to tender. This saves you time, as you won’t have to introduce separate tenders to your business and explain the idiosyncrasies of each project multiple times. What’s more, each job can begin much faster, as you won’t have to go through a separate tender process at the start of every single project or order.

 

KOK are Chartered Quantity Surveyors

Prior to each order under the MTC being issued, KOK’s highly experienced and disciplined Chartered Quantity Surveyor will issue an estimate. KOK’s fully qualified Quantity Surveyors are RICS qualified and regulated, which guarantees a commitment to working to the highest possible standards. One of KOK’s Chartered Quantity Surveyors will also check the measure of the work as it progresses and report on costs in a disciplined and concise manner. We encourage the Client to use formal change control procedures and to hold regular meetings with the contractor and KOK to discuss progress, quality, safety and cost.

 

KOK use Competent and Pro-active CDM Co-ordinators

Your projects under an MTC from KOK will all include the services of one of KOK’s competent and pro-active CDM Co-ordinators. Our qualified professionals will ensure all of your construction projects meet CDM Regulations and the highest standards of health and safety.

 

To learn more about Keelagher Okey Klein’s Chartered Quantity Surveyors, experienced CDM Co-ordinators and how working with KOK’s measured term contracts can save time and money on your small, frequent, planned or unplanned, or urgent construction works ”“ visit https://www.kok-surveyors.co.uk/measured-term-contracts/