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BCIS Price Adjustment Formulae Indices Online (PAFI)

BCIS Price Adjustment Formulae Indices Online (PAFI)

This tool provides a comprehensive, detailed and easy to use method of measuring cost movement for building and civil engineering. Widely used in the construction and infrastructure sector to help fairly allocate risk between the client and sub-contractors

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Measure cost movement for building and civil engineering through a 12 month subscription for this online tool

  • Benefits
  • What's included & Indices
  • Pricing

Benefits

Independent reliable data source, widely recognised as the industry standard

It will help you

  • Aid transparency between client and contractors, fairly distributing risk
  • Achieve flexibility and accurate forward planning based on price adjustments that take into account future variations
  • Allows the management of inflationary risk and can offer increased cost certainty at the budgeting stage, procurement stage and final account
  • Get the best price and ensures smooth delivery of payments and projects
  • Reduce negotiation time by using ‘industry standard’ indices
  • Saves you time by reducing the complexity of contracts and frameworks
  • Monitor inflation by choosing from a basket of relevant indices
  • Gives you the option to obtain bespoke forecasting as a cost prediction
  • Help you to pre-qualify costs at the tender stage if there is a ‘Inflation Adjustment clause’ in the contract

Used by

  • Quantity Surveyors and Contractors
  • Cost Consultants
  • Estimator
  • Programme Management
  • Project Controllers
  • Project Management
  • Design Management
  • Development Management
  • Asset Management
  • Local Authorities
  • Civil Engineers

It will help your client

  • Allows a simple way to administer ‘standard contract clauses’
  • Gives a flexible way to models inflation to the project cost
  • Easy management when working with a number of contractors
  • Helps remove the risk of inflation when working on long term projects, making cost prediction robust

It will help your contractor

  • Allows them and sub-contractors to submit competitive tenders in the safe knowledge that any increases in underlying costs will be reimbursed
  • Help ensure they are protected from inflation and offer the best current price
  • Ensure they manage costs at early stage using indices to model a cost for a scheme, client or developer
  • Save time supplying current prices at tender stage

What's included & Indices

Also known as NEDO, Baxter or Osborne Indices and are widely used on variation of price contracts

What's included

  • Comprises of over 200 indices in four index series (Building, Civil Engineering, Specialist Engineering and Highways Maintenance)
  • You can select from the indices a ‘basket‘ of indices which reflect the nature of the project
  • Download indices to use in your own system

Indices

  • Building
  • Civil Engineering
  • Civil Engineering and related Specialist Engineering
  • Highways Term Maintenance
  • Specialist Engineering

Pricing

Based on the number of people in your organisation not the number of users

Prices exclude VAT

Sole Practitioner

£380

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Professional Practice 2-3

£440

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Professional Practice 4-9

£480

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Professional Practice 10-49

£510

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Reviews

How PAFI helped Crossrail...

Robert Stockwell, Programme Cost Manager on 2015/7/30
Crossrail (CRL)

At Crossrail we have administered NEC3 Contracts with Secondary Option X1 clauses using the BCIS Price Adjustment Formulae Indices (PAFI). By using the BCIS Indices we have been able to procure contracts where inflation is identified as an Employers risk which could otherwise have been priced by our Tier 1 Contractors at a potentially high risk premium. The biggest benefit of using the BCIS Price Adjustment Formulae Indices is that it promotes a collaborative commercial arrangement between the project manager and contractor by setting out in the contract tender process exactly how the impact of inflation will be measured and how the Contractor will recover costs through the administration of a periodic Price Adjustment

Download full Crossrail case study (0.14MB)

Need help? Call us on +44 (0)24 7686 8433