Today, Swisher International, Inc. is a leader in the tobacco business, accounting for one-third of the United States' cigar sales and is America's largest cigar exporter. Swisher Sweets were introduced in 1958.
Generally provisional sum is an amount allocated for a specialized work by a specialized firm, for which the details are not available at the time of tender. The provisional sum amount will be a best guess at the time of tender by the employer or contractor depending upon the type of provisional sum. Hence claim made by the contractor need not necessarily be the exact amount mentioned in the contract. Definition of Provisional Sum by FIDIC Conditions of Contract. Provisional Sum means a sum (if any) which is specified in the Contract as a provisional sum, for the execution of any part of the Works or for the supply of Plant, Materials or services under Sub-Clauses 13.5(Provisional Sums). Examples of provisional sums.
This type of contract is usually for the maintenance or renovation work of a large sized project and the construction period usually ranges between 2 to 3 years or as otherwise agreed.he Lump Sum Contract can sometimes be called 'Stipulated Sum' and is the most basic form of agreement where the contractor/supplier agrees a fixed lump sum price to undertake all the specified contract works and the employer agrees to pay this price upon completion of works.