An allowance is the amount of money given or given usually at regular intervals for a particular purpose. In the context of children, parents can provide pocket money (English English: allowance ) to their child for their different personal expenses. In the construction industry, this may be the amount allocated to a specific job as part of the whole contract.
The person providing the benefits usually tries to control how or when the money is spent by the recipient so that it fulfills the purpose of the person providing the money. For example, parental allowance may be motivated to teach child money management and may be unconditional or tied to completion of a task or a particular value achievement.
The person who supplies the benefits usually sets goals and can place controls in place to ensure that the money is spent for that purpose only. For example, company employees may be given pocket money or money to provide food and travel when working away from home and then may be required to provide a receipt as evidence. Or they are given certain non-money tokens or vouchers that can only be used for specific purposes such as meal vouchers.
Video Allowance (money)
Benefits type
Allowances in business
Construction contract
In construction, the allowance is the amount specified and included in the construction contract (or specification) for certain work items (eg, equipment, lights, etc.) of which the details have not been determined at the time of the contract. Typical:
- the amount of the allowance includes the cost of the contractor's materials/equipment delivered to the project plus all taxes minus any trade discounts that may be awarded to the contractor in respect of the work item;
- contractor costs for labor (installation), overhead, profits, and other expenses in respect of the benefit item are included in the number of basic contracts but not in the amount of benefits; If the cost of part 1 for the work item is higher (or lower) than the amount of the allowance, the number of basic contracts should be increased (deducted) by the difference in the two amounts and with the change (if any) to the contractor's fee under section 2.
Benefit provisions may be handled otherwise in the contract: for example, a floor allowance may state that the cost of installation is part of the allowance. The contractor may be required to make a recording of a take-off or a preliminary estimate of part 2 fees for each benefit item.
Maps Allowance (money)
See also
- Per diem
- Wages
Annotations
References
Source of the article : Wikipedia
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