Priced Option

A contract provision allowing subcontractors to adjust their rates when material, labour, or fuel costs rise beyond a set threshold. It protects field service companies from absorbing unexpected cost increases on long-term projects. Without one, subcontractors are locked into original pricing regardless of market changes.

NPT (Non-Productive Time) is any period when crews or equipment are on-site but not performing billable work. This includes weather delays, equipment breakdowns, or waiting on materials. Subcontractors often absorb NPT costs unless contracts clearly define standby rates.

A contract where the subcontractor agrees to complete a defined scope of work for a set price regardless of actual labour, equipment, or material costs incurred — meaning cost overruns come directly out of your margin. Unlike time-and-material agreements, these contracts reward efficiency but expose field service companies to significant financial risk if scope creep or unforeseen site conditions arise.

When an operator returns a field ticket for correction before approval. Common causes include missing information, rate discrepancies, or insufficient documentation. Rejections delay payment and require rework.

A centralised system used by operators to consolidate and process contractor timesheets, work records, and billing entries. Subcontractors submit field data through CAPE to trigger payment and compliance verification. Accurate, timely entries are critical to avoiding payment delays.

Contracts locking in future heating oil prices, traded on commodity markets. Subcontractors use these trends to forecast fuel-related operating costs on remote or winter job sites. Rising futures signal higher equipment heating and site fuel expenses ahead.

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