The half-noble (three shillings and four pence = 40 pence) and, two years later, the quarter-noble of one shilling and eight pence (20 pence) were also issued. These new coins were of the correct weight for the values assigned to them.
Both definitions of AFE refer to money a business or other organization spends, but that is where the similarity ends. An authorization for expenditure must be followed up by an actual cost accounting, as a project may come in under or over the authorized budget.
Owner furnished (supplied) equipment (OFE), also known by other terms such as âfree issueâ presents unique planning and scheduling challenges. The idea is that another party to the contract procures / orders and supplies equipment, material (even services, such as utilities or scaffolding) to the contractor.