What defines an assumption in the context of subcontractors' bids?

In the context of subcontractors' bids, an assumption refers to any unclear information that must be assumed in order to complete the bid accurately. When subcontractors prepare their bids, they often work with estimates based on the information available to them. If certain details about the project scope, specifications, or conditions are ambiguous or not fully disclosed, the subcontractor must make educated guesses or assumptions to fill those gaps.

These assumptions might pertain to various elements such as project timelines, resource availability, or specific requirements that may not have been detailed clearly in the initial documents. By outlining these assumptions in their bids, subcontractors communicate their level of certainty and the risks associated with those ambiguities. This is crucial because it informs the general contractor or project owner about the basis of the provided bid, helping them to assess the overall reliability and potential for variances in cost or scheduling. Understanding the assumptions made allows for better-informed decision-making and risk management throughout the project lifecycle.