Bank’s Engineer
An engineer engaged on behalf of a bank or financier to review, assess or carry out work in relation to a project that the bank or financier is financing.
Base Value
A guide for a financial institution's lending rate with loans generally written at a margin above the base value.
Basic Works Contract
Used for small construction projects. See for example the ABIC BW-2018 contract.
Benchmark
A standard of performance set out in a Contract which indicates the required standard for works or services.