What is ISOR?
During bid evaluations for Construction works, it is often noted that tendered rates for specific work items vary widely between bidders. It is thus difficult to determine which rates reflect the most realistic costs. This situation stems from an absence of any benchmarking or consistent approach to deriving unit rates. Everyone tends to use his own approach and methodology to produce such rates, which could account for the discrepancies noted.
To address this inherent weakness in the market, the need was felt for some form of benchmarking for construction rates. This led to the development of the First Edition of the Indicative Schedule of Rates (ISOR), published by the Construction Industry Development Board (CIDB) in 2012, and known then as the National Schedule of Rates. The present Second Edition of the ISOR was commissioned by the CIDB, with a view to helping it meet its statutory obligation to publish periodically indicative schedules of rates for construction works.
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