ABSTRACT
When work is carried out which cannot be valued in any other way it is customary to assess the value on a cost basis with an allowance to cover overheads and profit. The basis of costing is a matter for agreement between the parties concerned, but definitions of prime cost for the building industry have been prepared and published jointly by the Royal Institution of Chartered Surveyors and the National Federation of Building Trades Employers (now the Building Employers Confederation) for the convenience of those who wish to use them. These documents are reproduced on the following pages by kind permission of the publishers.
