FIDIC 2017 · FIDIC 1.1.19
Cost
Expenditure the Contractor reasonably incurs in performing the contract, including overheads but not profit. Each Sub-Clause says whether it pays Cost or Cost Plus Profit.
“all expenditure reasonably incurred (or to be incurred) by the Contractor” (FIDIC 1.1.19)
On the Aldermere project
Claim 1's Cost of GBP 76,500 is the GBP 73,153.15 ECC Defined Cost plus GBP 3,346.85 of overheads.
Where you meet it
- Module 7: Valuing changeNEC4 vs FIDIC 2017