Quantity surveyors are responsible for managing all aspects of the contractual and financial side of construction projects. They help to ensure that the construction project is completed within its projected budget.
A QS is often called in at the feasibility stage to advise the developer or his lenders on the likely construction cost of the project and the most economical way of achieving project requirements.
A system of dispute resolution selected by the world's leading international companies By inserting an arbitration clause into their agreements with trading partners, they opt to have disputes decided by 'arbitral tribunals’ rather than litigating them in national courts.
All developers and some extent owner builders, that require finance for their proposed developments come across the same conundrum: the finance institution requires an approved qualified quantity surveyor to carry out a ‘due diligence’ test on the costs associated with the project and the ‘parties’ involved in the delivery of the project.
Also known as cost consultants, quantity surveyors ensure building projects remain within budget. They provide cost and material estimates, draw up projected budgets, and work alongside a team, noting any design changes and their effect on cost. Quantity surveyors often liaise with builders, architects, engineers, and other contractors.
Inspection services are hired all the time to verify both the quantity and quality of oil shipments. It is a routine practice. To put things in perspective, a 1% “error” on a VLCC cargo of crude oil is worth over $1 million. The task is too important to rely on a service that is unproven.