The BEAMA Labour and Material Cost indices were primarily designed for use with manufacturing contracts but now have a much wider application and can be used for:-

• Variation of Price Contracts
• Annual Variations to Service and Maintenance Contracts
• Evaluating Costs for Insurance purposes
• Up-dating the Contract Price to a New Base Date
• Monitoring Company Costs against the National Average
• An easy method of obtaining a New Price for Repeat Orders of Equipment

Advantages of Formulae Adjustment

• Speedier Reimbursement
• Return Commensurate with True Price Movement
• Confidence in Tendeirng
• Saving of Staff Effort
• Tender Evaluation