TeachMeFinance.com - explain Contingencies
Contingencies The term 'Contingencies' as it applies to the area of reclamation can be defined as ' Used in appraisal and feasibility estimates to estimate overruns on quantities, changed site conditions, change orders, etc. Contingencies are considered as funds to be used after construction starts and not for design changes or changes in project planning. Appraisal estimates should have 25 percent added and feasibility estimates should have 20 percent added for contingencies'.
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