relying on the contractor to invoice the owner for what they believe is owed. TRACK informs the contractor of what they have earned vs.
Near-time (next day) allocation allows owner's representatives to closely link charges to the actual work performed in the field. can only be billed as stipulated in the contract agreement.Īvoidance of double billing, which often goes unnoticed if the invoices are routed to separate owner representatives.
TRACK ensures that "other" costs associated with equipment charges are contractually compliant fuel, repairs, mobilization, demobilization, etc. The successful bidder's rates are locked into TRACK eliminating unauthorized alterations. In addition to the standard hourly rate for the various equipment types, the owner is able to introduce into the bidding process a diverse set of additional bidding variables (daily, weekly, and monthly maximum billable hours) that create cost saving opportunities.Įrror-free downloading of equipment rates via TRACK's import tool avoids costly mistakes during the billing cycle. The use of the TRACK Platform’s standard equipment definitions and rate formats enables the owner to obtain consistent bidding and easily facilitates bid analysis. The equipment module provides contractual and administrative benefits as follows: Contractual
The accountability, utilization, and cost of equipment are important elements that need to be addressed in the overall contracting, maintenance, and capital strategies. At any given time, cranes, trucks, and cherry pickers are either being utilized or sitting idle. Equipment costs account for 10-15% of maintenance spending and up to 20% during a turnaround.
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