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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.

Glossary Term

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