Dayrate Model

A charge issued by an operator or general contractor to a subcontractor for costs incurred due to defective work, delays, or failure to meet contractual obligations.

A formal document issued by prime contractors or operators asking subcontractors to submit detailed pricing and specifications for specific field services, equipment, or labour. RFQs typically include project scope, timelines, and technical requirements that subcontractors must address to compete for the contract.

A fixed daily fee charged by a subcontractor or equipment provider, regardless of hours worked or output produced. It covers labour, equipment, and overhead for that calendar day. Dayrates are common in drilling, rental, and specialised field service contracts.

A pricing model where the contractor bills for actual time spent and materials used, plus markup. Common for work where scope is uncertain.

The process of tracking all costs associated with a specific job or project, including labor, equipment, materials, and overhead. Accurate job costing is essential for understanding profitability.

The amount a subcontractor or field worker actually receives after all deductions — such as taxes, union dues, equipment charges, or mobilisation costs — have been subtracted from gross earnings. For subcontracting companies, tracking net pay against invoiced amounts is critical to maintaining healthy margins on field projects.

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