An allowance is an amount of money set aside for a designated purpose.
Allowing another person to have some money (for whatever reason) is often referred to as an allowance.
Contents |
In construction, an allowance is an amount specified and included in the construction contract (or specifications) for a certain item of work (e.g., appliances, lighting, etc.) whose details are not yet determined at the time of contracting. Typically:
The allowance provisions may be handled otherwise in the contract: e.g., the flooring allowance may state that installation costs are part of the allowance. The contractor may be required to produce records of the original takeoff or estimate of the section 2 costs for each allowance item.
Other issues that should be considered in the contract's allowance provision are:
Parents often give their children an allowance (British English: pocket money) for their miscellaneous personal spending, and also to teach them money management at an early age[1][2]. Allowances may be tied to household chores, or other types of responsibilities.
The average pocket money: age 4-9= $3.00 10-11= $6.00 12-15= $13.00 15+ work outside the home (survey).
|