Please clarify for me the meaning and result of owning float.
In certain cases the builder or the client say they own the float, but what does that mean?
What is the consequence of owning float?
In the case of the builder owning the float, does this mean it allows him to claim delays on an activity that has float (i.e. does owning the float mean the builder can claim extensions for non-critical delays?)
If it means that, does that not mean that every non-critical (float) delay will be subject to an eot, even if the builder is not actually delayed on site? If it means that, is that fair to the client?
I understand that any delay that is critical extends the date of project completion. But how can a builder claim delay for an activity that has float (at least until it becomes critical)?
I understand float, how it is calculated etc., but I want to understand the meaning of ‘owing the float’ from the builder and client perspective.
Thanks
Greg
In certain cases the builder or the client say they own the float, but what does that mean?
What is the consequence of owning float?
In the case of the builder owning the float, does this mean it allows him to claim delays on an activity that has float (i.e. does owning the float mean the builder can claim extensions for non-critical delays?)
If it means that, does that not mean that every non-critical (float) delay will be subject to an eot, even if the builder is not actually delayed on site? If it means that, is that fair to the client?
I understand that any delay that is critical extends the date of project completion. But how can a builder claim delay for an activity that has float (at least until it becomes critical)?
I understand float, how it is calculated etc., but I want to understand the meaning of ‘owing the float’ from the builder and client perspective.
Thanks
Greg