Allocation of costs is the transfer of costs from one cost item to one or more other cost items. Allowance - a value in an estimate to cover the cost of known but not yet fully defined work. As-sold estimate - the estimate which matches the agreed items and price for the project scope. B
Arbitrator Disclosure. Arbitrator disclosure is the cornerstone of FINRA arbitration, and the arbitrator's duty to disclose is continuous and imperative.
Proper disclosure by appraisers includes full disclosure of all work done with any of the parties for the past five years, Reid said. This disclosure requirement applies to umpires as well. He recommended making a request for exchange of disclosures at the outset of the appraisal process.